The inaugural Chaifetz STLaunch competition saw two startups take home a combined $1.2 million in investment. | Via Arch Grants/Facebook

St. Louis startup scores $1 million in Chaifetz competition

Two St. Louis startups won a total of $1.2 million in investment from the Chaifetz Group Monday night at Chaifetz STLaunch, a new pitch competition akin to “Shark Tank.”

KNOWiNK, an election technology startup, won $1 million equity investment after presenting to Chaifetz Group Chairman Richard Chaifetz.

Another startup, Juristat, which tracks patent data, won a $200,000 investment.

After the event, Chaifetz said he plans to host the event every year. He’s also signalled that his firm intends to grow its presence in the St. Louis region.

While his firm is based in Chicago, Chaifetz has deep roots in St. Louis. Last year, St. Louis University renamed its business school following a $15 million donation from the investor, who is an alum of the schoo.

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