Canada's BlackBerry Ltd said it has completed its acquisition of Secusmart, Reuters reported. The terms of the deal were not disclosed. The German maker of encryption and anti-eavesdropping services was previously a portfolio investment of several European venture capital firms, including Ammer Partners.
2 min read · 19 December 2014
Avigilon Corp (TSX: AVO), a portfolio company of BC Discovery Fund, has acquired the patent portfolio and the patent licensing program of U.S. video software provider ObjectVideo Inc. The purchase price was US$80.3 million. Avigilon, a Vancouver-based provider of end-to-end security solutions, said the deal adds to its portfolio of U.S. and international patents and patent applications, which now total 124 and 202, respectively. BC Discovery Fund is a retail venture capital fund managed by Discovery Capital Management Corp. Avigilon went public in 2011.
5 min read · 18 December 2014
U.S. molecular diagnostics company CardioDx Inc has secured US$35 million in new financing. Canadian pension fund manager Alberta Investment Management Corp (AIMCo) participated in the round along with existing investors. Based in Redwood City, California, CardioDX specializes in cardiovascular genomics, and is focused on developing clinically validated tests that help clinicians care for patients. The company, which is reported to have raised US$21 million in July, is backed by Artiman Ventures, Kleiner Perkins Caufield & Byers, Longitude Capital, Mohr Davidow Ventures, Pappas Ventures and Temasek Life Sciences, among others.
5 min read · 18 December 2014
The Canadian government has announced its new Immigrant Investor Venture Capital (IIVC) pilot program, which is intended to attract experienced business immigrants to Canada. The program, which will begin accepting applications in late January 2015, targets approximately 50 immigrant investors who have a net worth of $10 million and can make a commitment of $2 million for a period of 15 years. Commitments will capitalize an IIVC fund vehicle, which will invest in Canadian innovative startups with high growth potential. The IIVC fund is expected to raise at least $100 million.
3 min read · 16 December 2014
BP Ventures, the technology investment arm of U.K. energy business BP Group, has invested in Saltworks Technologies Inc. The deal, the value of which was not disclosed, follows an investment in May made by ConocoPhillips Co. Based in Vancouver, Saltworks has developed desalination systems for demanding applications which require freshwater from highly impaired saline water sources. It said the investment from BP, which has partnered with the company in test projects, will allow it to continue its technology development. Saltworks is also backed by the venture capital program of Cenovus Energy Inc and by Teck Resources Ltd.
2 min read · 16 December 2014
Foko Inc, a photo-sharing and messaging service for enterprises, has raised $2 million in seed-stage financing, adding to the $450,000 in funds that the company secured earlier this year. The investors in the latest round included Canadian venture capital firms BDC Capital and Real Ventures, as well as senior technology executives and entrepreneurs Sarah Imbach, Brian O'Higgins, Peter Griffiths, Sebastien Marineau, Paul Tsaparis, Eric Yau and Ricardo Poupada. Update: Headquartered in Gatineau, Québec, Foko said investment proceeds will be used to enhance its service and raise its market profile.
3 min read · 16 December 2014
Canadian specialty pharmaceutical company Knight Therapeutics Inc (TSX: GUD) has committed a total of US$35 million to new funds managed by U.S. life sciences venture capital firms Domain Associates and Sanderling Ventures. The fund commitments, which follow the company's $30 million commitment in October to Teralys Capital Innovation Fund LP, a life sciences fund managed by Canadian fund of funds manager Teralys Capital, reflect Knight Therapeutics' continuing product sourcing strategy.
3 min read · 16 December 2014
Toronto-based product information network Hubba has closed $3.1 million in seed-stage funding. The round's backers included Canadian venture capital firm Brightspark and U.S. firm The Social + Capital Partnership, as well as a number of angel investors. Update: Founded in 2012, Hubba is a business-to-business technology startup that helps brands and networks to exchange product information. It said that it brought on 500 companies within the first 90 days of launching its platform and doubled the size of its employee base in 2014. Hubba is led by CEO Ben Zifkin.
3 min read · 16 December 2014
Neurio Technology Inc, formerly known as Energy Aware Technology Inc, has received $1.5 million in seed-stage financing. The investor was BDC ICE Venture Fund, one of three sector-focused venture capital funds managed by BDC Capital. Headquartered in Vancouver, Neurio is a home intelligence platform that has developed technology for monitoring home electrical devices, such as appliances, water tanks and heating, and cooling systems. It plans to use BDC's investment to fuel growth through development of its platform and additional employee hires. Founded in 2005, Neurio is led by president and CEO Janice Cheam and CTO Dr. Ali Kashani.
3 min read · 16 December 2014
Visual intelligence platform TRACE Live Network has secured $2.5 million in seed-stage funding. The round was led by principals of Canadian investment dealer Salman Partners and was joined by private investors in the network of Business Instincts Group, which created the company. Based in Venice, California and Calgary, Alberta, TRACE is the developer of TRACEr1, a visually intelligent camera that facilitates video capture and live streaming. The startup's founders include CEO Cameron Chell and CTO Paul Beard. TRACEr1 is expected to see retail availability in late 2015. A Canadian serial entrepreneur, Cameron Chell has contributed feature articles to peHUB Canada.
3 min read · 16 December 2014
