Rivet Relocated, Rhaeos Got $10.5M, and More Chicago Tech News

Catch up on the latest Windy City tech news with the Built In Chicago Weekly Refresh.
Written by Abel Rodriguez
February 27, 2023Updated: February 27, 2023
Photo of Rivet co-founders.
Photo: Rivet

From new office announcements to the latest in funding, catch up on tech news from the Windy City. Read up on an AI company that recently moved to Chicago and learn which medical device company raised $10.5 million. This is the Built In Chicago Weekly Refresh.  

Spot announced a new Chicago office. Spot is a logistics company headquartered in Indianapolis. Last week the company announced it will open an office in Chicago in October. The office will be located in the Marshall Field and Co. building. The company also plans to expand and will hire 200 employees. [Built In Chicago]

Rhaeos Raised $10.5M. Rhaeos is a medical device company spun out of Northwestern University that develops sensors to treat chronic conditions. The company raised $10.5 million in a Series A round led by the Steele Foundation for Hope. The new capital will accelerate Rhaeos’ product pipeline. [PR Newswire]

Chicago Tech Quote of the Week

“We’re really excited about tapping into the music scene out here. There’s an incredible ecosystem that we’re just scratching the surface of. It’ll be exciting to start building Rivet’s new community in the Chicago ecosystem.” — Simran Pabla, Rivet co-founder

Rivet relocated to Chicago. Rivet recently relocated from Boston and secured a $500,000 investment in a round led by Drive Captial. Rivet developed a fanbase management platform that uses AI to help musicians understand their fans. The company will grow its platform by moving to Chicago and embedding itself in the local music scene. [Built In Chicago]

Tastyworks changed its name to tastytrade. Tastytrade is a do-it-yourself financial platform with various services like trading and retirement saving. Last week the company rebranded to tastytrade to better reflect its business and its offered services. [tastytrade]

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