Chicago, Illinois Local News
Chicago Beat: Local Q3 startup fundraising, Foxtrot to reopen 3rd location – Chicago Business Journal
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The Big One:
The three largest funding rounds of the third quarter among Chicago’s tech startups were all in the health care space.
That’s according to data from the latest PitchBook-National Venture Capital Association Venture Monitor report, which showed that life-sciences VC deal counts have continued to decline in 2024 across the United States, with a greater percentage of deals getting done in the later stages.
Of the 10 largest funding rounds for Chicago tech startups in the third quarter, half were in the health care space, including Vanqua Bio, which recently announced positive results for its Parkinson’s treatment.
READ MORE: How growth of Chicago’s life-sciences sector is tied to startup fundraising
What else you need to know
- Pirkx, a London-based insurtech company, plans to open a U.S. headquarters in Chicago.
- Adams Street Partners announced the close of its Venture Innovation Fund program, which received more than $1.2B in capital commitments. The private equity firm’s new fund will target the world’s most “innovative and disruptive companies.”
- American Express announced it completed its acquisition of Chicago restaurant tech startup Tock.
Foxtrot to reopen third location
Foxtrot is reopening its third location this week.
The grocery store that at one point could be found in neighborhoods across Chicago announced that its Wicker Park location is next up in its rebirth.
Once one of Chicago’s most prominent food startups, Foxtrot had as many as 33 locations in Chicago; Dallas; Austin, Texas; and Washington, D.C., but closed suddenly in April after merging with Dom’s Kitchen & Market less than half a year earlier.
The corner store will return Thursday with an expanded coffee bar and new food offering, similar to other reopened locations.
READ MORE: Foxtrot to reopen Wicker Park location this week
Bitnomial raises $25 and announces new platform
Bitnomial announced it landed a $25M funding round, led by Ripple, with participation from new and existing investors.
The Chicago crypto exchange startup also announced it is launching a new trading platform, Botanical.
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Alex Zorn
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