Steve Grzanich has the business news of the day with the Wintrust Business Minute.

Cannect Wellness, a Chicago-based craft cannabis company, has raised $7 million in a second round of equity funding. The company has raised $14.5 million to date and plans to use the new cash infusion to increase production capacity and double its headcount, which currently stands at 26. The first funding round was used to build out its 22,000-square-foot facility in Franklin Park. Cannect Wellness has also expanded product offerings, including edibles, pre-rolls and concentrates. The company also plans to launch new brands and evaluate other expansion opportunities. 

Also, Chicago software company Logik.io has raised $25 million in a series B funding round. Listen for more below: