Gearflow’s $5.5M Raise, TechRise’s Winners, and More Chicago Tech News

A lot happened in the world of tech last week. Catch up on the latest with the Built In Chicago Weekly Refresh.

Written by Abel Rodriguez
Published on Dec. 05, 2022
Gearflow’s $5.5M Raise, TechRise’s Winners, and More Chicago Tech News
TechRise winnners during the season 2 finale
Photo: TechRise

Chicago tech companies kicked off December in high gear with fresh funding rounds and new office openings. Catch up on Vyond’s plans to open an office in Chicago, or read up on Gearflow’s $5.5 million raise. This is the Built In Chicago Weekly Refresh.

Gearflow raised $5.5M. Gearflow is a construction tech startup that connects equipment owners with part suppliers to keep their machines running. The company’s recent $5.5 million round was led by Brick & Mortar Ventures. Gearflow has now raised $10.3 million since launching in 2018. [Built In Chicago]

Indoor Drone Tours was featured in the Built In Future 5 series. Indoor Drone Tours is a tech startup that uses drones to create flashy real estate and promotional videos for clients. The company was founded in 2020 and has been self-funded since its launch. In that time, the startup has also worked with high-profile customers, including the Chicago Bulls. [Built In Chicago]

Chicago Tech Quote of the Week

“Enterprise companies everywhere — including so many great firms in the Midwest — are obtaining tangible business benefits from the use of smart video creation software from Vyond.” — Van Diamandakis, Vyond’s chief marketing officer

Vyond announced plans for a Chicago office. Vyond, a video software company founded in California, opened a regional office in Chicago on December 5. The office is located in Fulton Market. According to the company, the new space will help it better serve its midwest customers. [Built In Chicago]

Five Chicago startups raised a collective $380M in November. Ranging from bioscience to logistics, several Chicago startups raised new capital last month. Emalex Biosciences, a pharmaceutical company, raised $250 million, topping the list of largest venture capital rounds in November. Project44, Attain, Better Trucks and Logiwa also raised high-dollar rounds. [Built In Chicago]

TechRise announced its pitch competition winners. TechRise is a tech community powered by P33. Last week, TechRise announced that Chicago-based SMART Charts, a healthtech platform, won the $100,000 grand prize for the 2022 pitch competition. Eventnoire, another local startup connecting users to Black cultural events, won $25,000 and the People’s Choice Award. [TechRise]

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