Chicago tech companies raised capital and announced new acquisitions last week. Catch up on NanoGraf’s $65 million raise, or read up on the startup combining blockchain technology and music streaming. This is the Built In Chicago Weekly Refresh.
NanoGraf raised $65M. NanoGraf is a lithium-ion battery producer that uses silicon anodes to produce a higher power output. The company raised $65 million in a Series B round co-led by Volta Energy Technologies and CC Industries. With the new capital, NanoGraf will expand its local manufacturing capabilities. [Built In Chicago]
Meridix was acquired. Meridix is a sports streaming platform based in Naperville. It is used by high school, college and professional sports leagues to stream matches and games. Last week the company was acquired by Plano, Texas-based Stack Sports, a SaaS platform for the sports industry. The acquisition will combine marketing and streaming solutions into one platform. [Send2Press Newsire]
Chicago Tech Quote of the Week
“We aren’t building any custom blockchain technology or issuing any kind of special token. We’re hoping this helps inspire other companies and developers to make new and interesting music applications that are both fairer to artists and more enjoyable for fans.” — Michael Rhee, Wavlake co-founder
Wavlake was featured in the Built In Future 5 series. Wavlake is a Web3 and music streaming platform where fans can send Bitcoin payments to their favorite artists. Michael Rhee and Sam Means co-founded the company and recently secured seed funding. Going forward, Wavlake will expand its platform and draw more artists to the streaming platform. [Built In Chicago]
Monad Labs secured $19M. Monad Labs is a blockchain startup that developed the Monad blockchain and helps other blockchain developers improve their application efficiency. The company raised $19 million in seed raise led by Dragonfly Capital. The funding will go toward enhancing the Monad blockchain. [PR Newswire]
