Independence Equity I

Independence Equity is a venture capital firm founded in 2010 and based in Northbrook, Illinois. The firm specializes in early-stage investments, focusing on companies that are developing technologies aimed at enhancing resource utilization. By targeting innovative startups in the Midwestern United States, Independence Equity seeks to support the commercialization of solutions that improve efficiency and sustainability across various industries. The firm is committed to fostering growth in its portfolio companies through strategic investments and guidance.

Michael Gruber

Investment Partner of Fund and Member of Investment Committee

Michael McCullough

Administrative Partner of Fund and Investment Committee Member

Donald Sackman

Managing Partner

9 past transactions

EatStreet

Venture Round in 2018
EatStreet, Inc. is an online and mobile food ordering service that connects customers with local restaurants across the United States. Founded in 2009 and headquartered in Madison, Wisconsin, the company caters primarily to college students and young professionals, offering a straightforward and affordable way to order delivery and takeout. The platform serves as a centralized hub, providing users with access to a comprehensive listing of partnered restaurants in their area, enabling quick and convenient food ordering. For restaurant owners, EatStreet offers a one-stop solution for online ordering and marketing, helping them attract new customers and increase sales. Through its web, mobile, and social products, EatStreet enhances the dining experience for consumers while supporting local businesses.

Algal Scientific

Convertible Note in 2016
Algal Scientific Corporation, founded in 2009 and based in Plymouth, Michigan, specializes in the development and commercialization of algae-based products and technologies for various industries, including animal health, human nutrition, and water treatment. The company offers Algamune, a beta glucan derived from algae that enhances immune health in livestock and aquatic species, and AlgaGLUCAN, a similar product aimed at human nutraceuticals and functional foods. Additionally, Algal Scientific provides the Hypertrophic water treatment technology, which is designed to treat dissolved organics, nitrogen, and phosphorus in wastewater while generating a natural fertilizer byproduct. This technology serves customers in the food and beverage sector, including breweries, dairies, and meat producers, contributing to sustainable practices and resource conservation. The company also maintains an office in Beijing, China, to support its international operations.

Algal Scientific

Series B in 2015
Algal Scientific Corporation, founded in 2009 and based in Plymouth, Michigan, specializes in the development and commercialization of algae-based products and technologies for various industries, including animal health, human nutrition, and water treatment. The company offers Algamune, a beta glucan derived from algae that enhances immune health in livestock and aquatic species, and AlgaGLUCAN, a similar product aimed at human nutraceuticals and functional foods. Additionally, Algal Scientific provides the Hypertrophic water treatment technology, which is designed to treat dissolved organics, nitrogen, and phosphorus in wastewater while generating a natural fertilizer byproduct. This technology serves customers in the food and beverage sector, including breweries, dairies, and meat producers, contributing to sustainable practices and resource conservation. The company also maintains an office in Beijing, China, to support its international operations.

NuCurrent

Series A in 2014
NuCurrent, Inc. is a Chicago-based company specializing in the design, fabrication, and integration of high-efficiency wireless power antennas and surface-mount inductors. Founded in 2009, the company develops antennas for both low and high frequency systems, catering to a variety of applications such as power electronics, RF electronics, and frequency synthesis. NuCurrent's innovations adhere to industry standards set by the Alliance for Wireless Power, Wireless Power Consortium, and Power Matters Alliance. The company collaborates closely with original equipment manufacturers (OEMs) and integrators to deliver custom-designed prototypes that enhance performance while reducing costs and sizes. Its patented technologies effectively address high-frequency challenges, resulting in improved efficiency and durability for wireless power applications.

Algal Scientific

Series A in 2014
Algal Scientific Corporation, founded in 2009 and based in Plymouth, Michigan, specializes in the development and commercialization of algae-based products and technologies for various industries, including animal health, human nutrition, and water treatment. The company offers Algamune, a beta glucan derived from algae that enhances immune health in livestock and aquatic species, and AlgaGLUCAN, a similar product aimed at human nutraceuticals and functional foods. Additionally, Algal Scientific provides the Hypertrophic water treatment technology, which is designed to treat dissolved organics, nitrogen, and phosphorus in wastewater while generating a natural fertilizer byproduct. This technology serves customers in the food and beverage sector, including breweries, dairies, and meat producers, contributing to sustainable practices and resource conservation. The company also maintains an office in Beijing, China, to support its international operations.

EatStreet

Series B in 2014
EatStreet, Inc. is an online and mobile food ordering service that connects customers with local restaurants across the United States. Founded in 2009 and headquartered in Madison, Wisconsin, the company caters primarily to college students and young professionals, offering a straightforward and affordable way to order delivery and takeout. The platform serves as a centralized hub, providing users with access to a comprehensive listing of partnered restaurants in their area, enabling quick and convenient food ordering. For restaurant owners, EatStreet offers a one-stop solution for online ordering and marketing, helping them attract new customers and increase sales. Through its web, mobile, and social products, EatStreet enhances the dining experience for consumers while supporting local businesses.

Intellihot

Seed Round in 2013
Intellihot is a manufacturer of tankless water heater systems for both residential and commercial applications. Established in 2005, the company emerged from the founder's experience with a traditional water heater malfunction. Intellihot's innovative designs, which have several patents pending, focus on conserving space and eliminating the need for bulky storage tanks. The systems are equipped with advanced connectivity features, including Wi-Fi and 3G/4G capabilities, allowing users to connect to a router or internet hub. This connectivity enables the analysis of water usage patterns, providing clients with on-demand water heating solutions that are both efficient and space-saving.

EatStreet

Series A in 2013
EatStreet, Inc. is an online and mobile food ordering service that connects customers with local restaurants across the United States. Founded in 2009 and headquartered in Madison, Wisconsin, the company caters primarily to college students and young professionals, offering a straightforward and affordable way to order delivery and takeout. The platform serves as a centralized hub, providing users with access to a comprehensive listing of partnered restaurants in their area, enabling quick and convenient food ordering. For restaurant owners, EatStreet offers a one-stop solution for online ordering and marketing, helping them attract new customers and increase sales. Through its web, mobile, and social products, EatStreet enhances the dining experience for consumers while supporting local businesses.

Intellihot

Seed Round in 2012
Intellihot is a manufacturer of tankless water heater systems for both residential and commercial applications. Established in 2005, the company emerged from the founder's experience with a traditional water heater malfunction. Intellihot's innovative designs, which have several patents pending, focus on conserving space and eliminating the need for bulky storage tanks. The systems are equipped with advanced connectivity features, including Wi-Fi and 3G/4G capabilities, allowing users to connect to a router or internet hub. This connectivity enables the analysis of water usage patterns, providing clients with on-demand water heating solutions that are both efficient and space-saving.
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