Spring has sprung in Chicago and various local startups are fueling growth after last week’s announcements. From an innovative car maintenance solution to a foodtech startup developing seafood alternatives, these and other companies raised funds last week. Catch up on the latest local tech news with the Built In Chicago Weekly Refresh.
CarmaCare secured $4.5M. Offering a car maintenance subscription service, CarmaCare allows vehicle owners to purchase extended warranties and car insurance. The $4.5 million funding round led by Inspired Capital will allow CarmaCare to grow its tech team and hire data scientists and underwriters. [TechCrunch]
Chicago’s largest funding rounds totaled $185.7M last month. The six largest tech funding rounds raised in March by companies in the Windy City came from the healthtech, security, insurtech, greentech and e-commerce industries. These businesses have big plans to innovate, and some will hire new talent. [Built In Chicago]
Chicago Tech Quote of the Week
“Being good stewards of investor capital is important to us, so along with hitting milestones earlier than expected, we are benefiting from government programs, academic resources, and other advantages to get to market quickly.” — Anne Palermo, CEO of Aqua Cultured Foods
Aqua Cultured Foods pulled in $5.5M. The startup, which is developing alternatives for calamari, scallops, shrimp and other seafood, will use the seed funding to bring its products to market. This includes scaling production, bringing on new talent and launching new partnerships with restaurants this year. The seed round was led by Stray Dog Capital, a VC firm that invests in alternative protein companies. [NewsDirect]
Coast raised $2.1M. Founded by former Northwestern University students, Coast offers simple integration tools for API-first companies. The startup allows companies, specifically sales teams, to demonstrate their APIs through a live dashboard and show customers what API integrations are possible. The fresh capital comes from Y Combinator, Liquid2 Ventures and others. [TechCrunch]
