Astrix Networks Inc, which operates as Memex Automation, has obtained up to $800,000 from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). FedDev Ontario said members of the Niagara Angel Network also committed $1.6 million of financing to the company. Based in Burlington, Ontario, Memex is a provider of technology solutions that enable automated machine tools to work and connect on the factory floor. The company will use investment proceeds to commercialize the latest version of its product MERLIN and additional features to be rolled out in the coming years.
4 min read · 19 March 2015
Spartan Bioscience Inc, an Ottawa-based provider of on-demand DNA testing technology, has received an undisclosed strategic investment from Canon USA Inc, a subsidiary of Japan's Canon Inc. The partnership is intended to help fund the research and development of new diagnostic testing products. Canon BioMedical Inc will focus on working with Spartan on these products, which will include rapid genetic testing. Founded in 2005, Spartan is a portfolio investment of Canadian angel organization Maple Leaf Angels.
3 min read · 19 March 2015
Opera Software ASA has bought SurfEasy Inc, a Toronto-based provider of virtual private network solutions for protecting online privacy and security. The financial terms of the deal were not published. Opera Software, an internet business with headquarters in Oslo, Norway, said the acquisition will expand its security-focused product footprint. SurfEasy was co-founded in 2011 by CEO Chris Houston, CTO Athir Nuaimi and COO Steve Kelly. It has been backed by a number of investors, including Canadian venture capital firms Mantella Venture Partners, MaRS Investment Accelerator Fund and BrandProject, as well as U.S. financial services firm Comerica.
3 min read · 19 March 2015
Ottawa-based Interset, a provider of advanced threat detection solutions, has received $10 million in follow-on financing. The round was led by U.S. venture capital firm Toba Capital and was joined by another new investor, U.S. data integration software company Informatica Corp (Nasdaq: INFA). It was also backed by existing investors Anthem Venture Partners and Telesystem, a Canadian technology investment firm. Update: Interset said proceeds of the round will help it expand capabilities and accelerate the adoption of its cybersecurity platform. Founded in 2002, the company is led by President and CEO Dale Quayle.
5 min read · 18 March 2015
CrowdCare Corp has secured $750,000 from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). FedDev Ontario said $1.5 million in funding was also obtained from Canadian venture capital firms Extreme Venture Partners and Mantella Ventures Partners, as well as investors from Extreme Angels. Proceeds of the round will support several CrowdCare goals, including additional upgrades to its Wysdom software platform, which helps mobile carriers solve the technical problems of customers. Last October, Extreme Venture Partners led a $3.5 million investment in the Richmond Hill, Ontario-based company.
3 min read · 17 March 2015
SD Tech Fund, a venture capital fund sponsored by Sustainable Development Technology Canada (SDTC), has invested $27.3 million in ten clean technology projects based in British Columbia. The companies that are developing the projects are: West Fraser Mills Ltd; BBCP Conductor Inc; David Bromley Engineering Ltd; Carbon Engineering Ltd; ZincNyx Energy Solutions; Saltworks Technologies Inc; SWITCH Materials Inc; Terramera Inc; Polymer Research Technologies; and Unit Electrical Engineering Ltd. To date, SD Tech Fund has backed 269 projects with $684 million from the federal government.
7 min read · 17 March 2015
Blue Pillar Inc has secured US$14 million in a follow-on round of financing. The deal was led by EnerTech Capital and was joined by Allos Ventures, Arsenal Venture Partners, Claremont Creek Ventures and the Maryland Venture Fund. Based in Frederick, Maryland, Blue Pillar is a provider of software solutions that help organizations to monitor, manage and control distributed energy assets. The company said it plans to use proceeds of the investment to meet demand for its products. EnerTech Capital, which has offices in Toronto, Calgary, Montréal, Philadelphia and Menlo Park, earlier this month led the latest funding of Terralux Inc.
4 min read · 16 March 2015
VarageSale, a Toronto online marketplace that provides people with a trusted environment in which to buy and sell goods, has closed a Series A financing, according to a report by a U.S. media outlet. The report said the round, the value of which was not disclosed, was led by Silicon Valley venture capital firm Sequoia Capital.
2 min read · 16 March 2015
Checkfront Inc, a provider of cloud-based online booking management solutions, has secured $1 million in seed-stage financing. The round was led by Rasool Rayani, the co-founder of Metalogix Software, and was joined by a number of angel investors and entrepreneurs. Checkfront, which has its headquarters in Victoria, British Columbia, said it will use deal proceeds to accelerate growth, pursue strategic partnerships, and expand its team. The company said it has processed over US$350 million in online bookings in the last twelve months, and has seen 100 percent revenue growth year-over-year since launching in 2010.
3 min read · 13 March 2015
Prevtec Microbia Inc, a Canadian biotechnology company developing technologies for the prevention of diseases in food-animals, has raised $4.7 million in follow-on financing. Most of the round was accounted for by VVC, a Canadian venture capital firm focused on investing in animal health. The other investors included existing backers Telesystem, Groupe Jafaco Gestion and Desjardins-Innovatech. Founded in 2001, the Montréal-based Prevtec is led by President and CEO Michel Fortin. The company said it plans to bring a number of new innovative products to market in the coming years.
2 min read · 13 March 2015
