From online commerce solutions to AI-powered political campaigning technology, Chicago tech companies are developing an array of innovations with their fresh capital from last month. Startups here in the Windy City pulled in a total of $38.7 million in July. Here’s how they plan to use it.
Largest Chicago Tech Funding Rounds, July 2023
- CoPilot
- Ambient
- MSPbots
- Hubly Surgical
- Quiller
#5. $1.2 million, July 11
Quiller, a platform that leverages artificial intelligence to modernize email fundraising for Democratic campaigns and allied organizations, secured $1.2 million in pre-seed funding for its solution. The round was led by Grassroots Analytics. Quiller also announced the appointment of its new CEO alongside its capital raise.
#4. $3 million, July 21
Medical device company Hubly Surgical developed a cranial drill to be used during neurosurgical procedures. Having already obtained FDA clearance for its solution, Hubly’s next steps are to invest its seed funding in launching its product into more U.S. regions, securing clinical data collection and fueling new product development.
#3. $5 million, July 27
Offering an AI-powered solution for managed service providers, MSPbots plans to fuel substantial product development with its new round of seed funding from Mercury. The company wants to further its work with generative AI, including investing in large language models, as well as grow its sales and marketing departments. MSPbots plans to double the size of its 110-person team over the next year.
#2. $6.5 million, July 12
BlockTower Capital led a round of seed funding for Ambient, an exchange platform aiming to make decentralized finance, or DeFi, more sustainable. The company uses a single-contract architecture to reduce gas and taxes while enabling users to manage their collateral. Its new capital will go toward expanding its team and furthering R&D on decentralized markets.
#1. $23 million, July 19
The company’s mobile platform allows consumers to shop for new and used cars available at dealerships. Max Levchin, co-founder of payments company PayPal, led the company’s latest funding round. The investment came following CoPilot’s addition of an AI-powered feature to its solution.
