Chicago Startups Raised $257 Million in May

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Chicago’s venture funding dropped in May but remains healthy, with startups raising $257 million according to Chicago Inno. 

Some of the leading startups and tech companies in Chicago to raise funds in May include: 

  • Fintech startup Amount, which raised $100 million in a Series D round run by VC firm Westcap
  • Digital marketplace BluePallet, which “came out of stealth mode” to receive $4 million in funding 
  • Cryptocurrency insurance company Evertas which raised $5.8 million in a seed round
  • Biotech startup Grove Biopharma, which raised $4 million for a new project which could lead to a treatment for conditions such as MS, Alzheimer’s and Parkinson’s. 
  • Startup Kin Insurance, which raised $64 million in a round co-led by Senator Investment Group and Hudson Structured Capital Management.  
  • Obie, which raised $10.7 million following last year’s $2.8 million seed round