About Independence Equity
Independence Equity is a venture capital firm founded in 2010. It is primarily based out of Northbrook, United States. As of Dec 2021, Independence Equity has invested in 12 companies. It primarily invests in Series A round in United States based startups. Its investments are spread across a wide range of sectors from High Tech to Retail and Transportation and Logistics Tech. Most recently it participated in the $***** Series B round of Intellihot A lot of funds co-invest with Independence Equity, with names like Cornerstone Angels sharing a substantial percentage of its portfolio. Independence Equity has team of 7 people including 3 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Locations
Rounds of Entry
Series A & Venture Debt
Portfolio Soonicorns
Independence Equity's List of Top Investments
Independence Equity has a portfolio of 12 companies. Their most notable investments are in Intellihot and Algal Scientific.Their portfolio spans across and United States. They have invested in High Tech, Retail, Transportation and Logistics Tech and 10 other sectors, across stages such as Series A, Venture Debt stages. Here is the list of top investments by Independence Equity:1. EatStreet
EatStreet is an online and mobile food ordering service that streamlines commerce between restaurants and diners. Diners enjoy the upside of fast, simple ordering from local restaurants on its iOS and Android app. EatStreet offers restaurants online ordering, custom websites, mobile apps, Facebook integration, and digital marketing services. Founded in 2010, the company has quickly expanded to over 5,000 restaurants in over 75 markets nationwide.
Key facts about EatStreet
- Founded Year: 2010
- Location: Madison (United States)
- Stage: Series C
- Total Funding till date: $48.8M
- Employee Count: 529 as on Dec 31, 2022
- Investors: Prime Ventures, Lumia Capital and 13 Others
- Latest Funding Round: Series C, Oct 09, 2018, $*****
- Highlight: Editors' Pick
2. Intellihot
Manufacturer of commercial tankless water heaters and related support services. It offers electric and gas powered products for diverse industry applications. The company provides sizing calculators, technical downloads, and training resources. Product support, along with professional service and maintenance, is available to customers.
Key facts about Intellihot
- Founded Year: 2005
- Location: Galesburg (United States)
- Stage: Series B
- Total Funding till date: $65.5M
- Employee Count: 81 as on Feb 28, 2026
- Investors: Energy Foundry, Avenue Capital Group and 15 Others
- Latest Funding Round: Series B, Dec 07, 2021, $*****
- Highlight: Editors' Pick
3. NuCurrent
NuCurrent is a fabless semiconductor company which develops high-efficiency antennas for wireless charging applications. It sells both pre-designed / customized antenna modules to OEMs to be integrated into their devices. Their product range also covers surface-mount inductors or induction heating coils.
Key facts about NuCurrent
- Founded Year: 2009
- Location: Chicago (United States)
- Stage: Series C
- Total Funding till date: $23.1M
- Employee Count: 20 as on Dec 31, 2024
- Investors: IU Ventures, Lakewest Venture Partners and 10 Others
- Latest Funding Round: Series C, Sep 12, 2025, $*****
- Highlight: Editors' Pick
Advanced Diamond Technologies (ADT) develops diamond wafer, called UNCD (ultrananocrystalline diamond) of 2-5nm thickness through a controlled process - of converting natural gas into diamond. This thin film of diamond can be integrated with other materials to develop a new class of diamond machines. ADT wafers have the ability to be made as smooth as possible with controllable thermal conductivity and optical properties. As such the wafers have been successfully applied in areas such as water treatment by proprietary Diamonox Technology. They have also developed NaDia Probes - which are all diamond AFM probes.
Key facts about Advanced Diamond Technologies
- Founded Year: 2003
- Location: Chicago (United States)
- Stage: Series D
- Total Funding till date: $5.88M
- Employee Count: 17 as on Dec 31, 2022
- Investors: Energy Foundry, VentureLab and 6 Others
- Latest Funding Round: Grant (prize money), Mar 01, 2014, $*****
Beauty, food, and health insights for a vibrant lifestyle. This platform delivers diverse content spanning beauty trends, nutritious recipes, and healthy living tips. Explore articles on skincare secrets, culinary delights, and wellness advice designed to enhance your daily life. Discover the latest in beauty innovations, from Korean cushion foundations to natural face masks. Indulge in flavorful and wholesome food options like quinoa salads and Middle Eastern falafel. Stay informed about essential health practices, including sun protection and skincare routines. This is a B2C platform that offers insights and inspiration for a balanced and fulfilling lifestyle, focusing on beauty, food, and health categories.
Key facts about Autonomic Materials
- Founded Year: 2005
- Location: Champaign (United States)
- Stage: Series D
- Total Funding till date: $16.2M
- Employee Count: 3 as on May 24, 2025
- Investors: Solvay Start-Ups Accelerates Innovation, VentureLab and 6 Others
- Latest Funding Round: Series D, Jun 13, 2022, $*****
Independence Equity's Year-on-Year Investment Trends
Independence Equity has invested in 12 companies over the last 14 years, with an average of 0 new investment annually in the last 10 years. Its most recent first time investment was in NuCurrent and most recent follow-on round was in Intellihot.Independence Equity's Investments by Stage
Independence Equity has made 3 investments in Series A stage with an average round size of $3.6M and 1 investment in Venture Debt stage with an average round size of $3.1M.Stage of entry | No. of Investments |
|---|---|
Series A | 3 |
Venture Debt | 1 |
Note: We have considered here, only first round of investments
Independence Equity's Investments by Sector
Independence Equity has a diverse portfolio, with companies operating in the Energy Tech, Environment Tech, Sustainability Tech, Auto Tech and Consumer. Notably, it has invested in 9 Tech companies, 8 Enterprise (B2B) companies, 6 Consumer (B2C) companies and at least 3 companies focusing on Software.Sector | No. of Investments |
|---|---|
Energy Tech | 2 |
Environment Tech | 2 |
Sustainability Tech | 2 |
Auto Tech | 1 |
Consumer | 1 |
Others | 7 |
Note: We have considered here, only first round of investments
Independence Equity's Investments by Geography
Independence Equity has made most investments in United States (4).Independence Equity's recent investments
Independence Equity has not made any investment in 2026 so far.Here are the most recent investments by Independence Equity:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Dec 07, 2021 | United States | Series B | 1829 | [+5] | |
Oct 13, 2017 | United States | Series A | 1282 | ||
Dec 03, 2015 | United States | Series C | 4980 | [+6] | |
Apr 01, 2015 | United States | Series B | 5537 | [+1] | |
Apr 25, 2014 | United States | Series A | 6352 | [+1] |
Team profile of Independence Equity
Independence Equity has a team of 7 members including 3 Partners located in United States. Independence Equity's team sits on the board of 1 company.Here is a list of all team members in Independence Equity:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Chicago | - | ||
Partner | Chicago | |||
Partner | Northbrook | - | - |
Co-investors of Independence Equity
Over the past 14 years, 29 investors have co-invested in Independence Equity's portfolio companies. This includes funds and angels.
- Invested before Independence Equity: Gener8tor and Galesburg.il.us have invested in rounds before Independence Equity. There is 1 company where Gener8tor has invested before Independence Equity and 1 company where Galesburg.il.us has invested before Independence Equity.
- Top Co-investors of Independence Equity: 8 investors entered a company along with Independence Equity. These include investors like Cornerstone Angels (2 companies).
- Invested after Independence Equity: A total of 19 investors have invested in Independence Equity's portfolio after their investments. Top Investors include Lumia Capital (1 company), GCI Capital (1 company) and MATH Venture Partners (1 company).
Recent News related to Independence Equity
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Intellihot Raises $50 Million from InvestorsPHCP Pros•Dec 09, 2021•Intellihot, Aegon Am, Avenue Capital Group, Evergreen Climate Innovations and 4 others
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Algal Scientific Secures $7M in Series BMassinvestor•Mar 31, 2015•Algal Scientific, Formation 8, Independence Equity, Evonik Venture Capital
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