July brought soaring temperatures and significant funding rounds to the Chicago area. Five of the largest rounds raised by local tech startups totaled a combined $123.6 million last month. Read on to see which companies raised the most capital and what they plan to do with their new funds.
#5. $15.2 million, July 26
Helping restaurants manage their equipment, 86 Repairs’ platform can schedule repairs, troubleshoot issues and check the equipment’s warranty status. The company is trusted by major food chains like McDonald’s and recently closed a $15.2 million Series A round. According to 86 Repairs, the new cash will aid in its push to 3x its revenue year-over-year.
#4. $16.4 million, July 6
Cloud fulfillment software Logiwa raised $16.4 million in a Series B round in July. The company develops software used by high-volume direct-to-consumer brands and warehouses. According to the company, its software can boost processing capacity by 200 percent. With the new funding, the logistics company plans to develop an AI-backed automation platform.
#3. $25 million, July 13
NutriSense is helping people understand and track their glucose levels using its platform and accompanying sensors. The platform also connects users with dieticians and helps them make better lifestyle decisions regarding their metabolic health. Founded in 2019, NutriSense will use its new funding to grow its operational team and make its platform available to more people.
#2. $30 million, July 28
Founded as a way to better price Airbnb properties, PriceLabs uses AI to analyze and predict rental prices for all rental properties. In July, the company raised $30 million in a round led by Summit Partners. The fresh funding follows a successful year for PriceLabs in which it grew threefold.
#1. $37 million, July 28
Last month Fly.io closed two funding rounds — a $12 million Series A and $25 million Series B. The company helps small startups and developers access delivery networks where they can host their applications at affordable prices with low latency speeds. With the new funding, Fly.io is set to hire and expand its global presence.