A rainy week in Chicago didn’t stop these tech companies from planning new developments for the spring. With new funding and more on the Windy City tech scene, read up on the latest news. This is the Built In Chicago weekly refresh.
Fyllo secured $30M. With its cloud-based software, the startup is working to help cannabis companies and other companies in regulatory spaces streamline their business, offering them tools for marketing, analytics and compliance. Its Series B round was co-led by investors JW Asset Management and Sol Global, and the capital will enable Fyllo to grow its footprint and hire new talent across engineering and more. [Built In Chicago]
Volexion pulled in $2.2M. With the first installment of its seed funding round, the battery developer is investing $1.1 million in scaling up its tech. Volexion devised a method to extend the life of typical lithium-ion batteries to potentially provide use in sustainable energy. Clean Energy Ventures and Energy Foundry contributed to the round so far. [Built In Chicago]
Chicago Tech Quote of the Week
Bartesian raised $20M. For those looking to indulge in cocktails at home without the need for mixology talent, the startup raised new funding to ramp up production of its alcoholic drink maker. With reservoirs for hard liquor and insertable flavor capsules, customers can make 30 different cocktails with Bartesian’s product. The Series A round was led by Cleveland Avenue, and the startup also welcomed actress Mila Kunis to its board of directors. [Built In Chicago]
1871 to acquire Hub88. With its sights set on the Naperville-based tech accelerator, 1871 plans to provide members with access to the suburban organization’s tech like LTE and 5G and drones. 1871 will also give members access to its Chicago co-working space, Hub88’s Naperville lab space and several virtual resources. [Built In Chicago]
MoLo expands into Tennessee. Headquartered in the Windy City, the company provides third-party logistics services. MoLo Solutions announced the location of its newest office in the fast-growing southern city of Nashville. At its new site, the company anticipates hosting both customers and carriers while offering them access to the city. [Yahoo Finance]