Wealthsimple, which in September secured $1.9 million in venture capital financing, has received regulatory approvals to expand its operations into Alberta, Manitoba and Québec. The Toronto-based startup has created a platform for delivering low-cost wealth management strategies and personalized services to investors. The initial funding of Wealthsimple came from a number of investors, including Eric Kirzner, Roger Martin, Joe Canavan and Canadian venture capital firm Impression Ventures.
3 min read · 09 December 2014
Canadian specialty finance firm Wellington Financial has provided $6 million in venture debt financing to a Canadian mobile software technology enterprise. The company, which Wellington said is backed by venture capital investors, was not identified. Proceeds of the deal are intended to facilitate development and the launch of the company's new product offering. Based in Toronto, Wellington provides term, venture and amortizing loans of up to $30 million.
2 min read · 08 December 2014
Export Development Canada (EDC) has provided $2 million to Diacarbon Energy Inc, a startup that produces renewable fuels from biomass, to provide waste solutions for pulp and paper, forest, and agriculture industries. Investment proceeds will allow the company to complete its thermal biomass refinery in British Columbia, which will convert wood waste into low carbon bio-fuels ready for distribution. Founded in 2009, Diacarbon has its headquarters in Burnaby, British Columbia. The company has also received funding from Sustainable Development Technology Canada (SDTC).
3 min read · 04 December 2014
Vancouver LED technology startup Cooledge Lighting has raised US$18.4 million in a Series B financing, peHUB Canada has learned. The round was led by an unidentified alternative assets firm and was joined by Yaletown Venture Partners, ARCH Venture Partners, Export Development Canada and GE Ventures. Yaletown's Kirk Washington told peHUB Canada that the deal reflects a tipping point for the fast-growing LED lighting market.
3 min read · 04 December 2014
The Sampler App Inc, an online product sampling management and analytics platform, has received $645,000 in funding. The backers of the round included MaRS Investment Accelerator Fund, Export Development Canada, Ryerson Futures and several angel investors. Founded in 2013, Sampler has developed software-as-a service technology that integrates into the marketing channels of brands, and encourages online sharing of product samples. The company said funding proceeds will support its technology, sales, marketing teams in Toronto, as well as the launch of its New York branch in 2015.
3 min read · 03 December 2014
BlueDot, a social benefit enterprise spun out of the University of Toronto's St. Michael's Hospital, has received Series A funding. The undisclosed investment was made by Hong Kong-based Horizons Ventures, the private investment arm of Asian businessman Li Ka-shing. Founded by Dr. Kamran Khan, Blue Dot is a technology company focused on assembling data to track and analyze risks posed by global infectious diseases. MaRS Innovation previously provided seed funding to the company and helped it incorporate and establish a go-to-market plan. Ontario Centres of Excellence also provided commercialization grants.
5 min read · 03 December 2014
FATHOM, a provider of data solutions technology to water utilities, has raised a new strategic investment. The undisclosed deal was co-led by XPV Capital Corp, a Canadian venture capital firm focused on emerging water companies, and U.S. firm Silver Lake Kraftwerk. Headquartered in Phoenix, Arizona, FATHOM has developed a software-as-a service platform that helps water utilities grow revenue, reduce costs and enhance customer service. It plans to use the capital infusion for product development and expansion of its market position. Last February, XPV obtained a commitment for its second fund, XPV Water Fund II, from Northleaf Venture Catalyst Fund.
4 min read · 03 December 2014
Borrowell has secured $5.4 million in seed-stage financing and commitments. The funds came from a mix of angel and corporate investors, including Equitable Bank, Oakwest Corp, Roger Martin, John Bitove and Dan Debow. Planning on an official launch in early 2015, the Toronto-based Borrowell has established an online lending platform intended to provide consumers with better borrowing options. Investment proceeds will be used to support the platform's launch and help the company in hiring new employees.
2 min read · 03 December 2014
Naurex Inc, a U.S.-based biopharmaceutical company that develops novel drugs for diseases of the central nervous system, has closed a US$80 million Series C financing. Investors in the round included existing backer Genesys Capital, a Canadian life sciences venture capital firm. Adams Street Partners, Baxter Ventures, Druid BioVentures, Latterell Venture Partners, PathoCapital and Savitr Capital were among the other investors. Naurex, which is headquartered in Evanston, Illinois, said the deal's proceeds will support the ongoing clinical development of its lead compounds, including GLYX-13, which treats major depressive disorder.
4 min read · 03 December 2014
Enevate Corp has disclosed that Infinite Potential Technologies LP, a fund affiliated with former Blackberry Ltd co-founder Mike Lazaridis, has provided it with financing. The investment's value was not released. Concurrent with the funding announcement, Enevate, a U.S. advanced rechargeable energy storage technology company, said Lazaridis has joined its board of directors and will contribute to its transition from R&D to mass production. Infinite Potential Technologies forms part of Quantum Valley Investments, a Waterloo, Ontario-based firm established by Lazaridis and Doug Fregin to invest in early-stage quantum technology companies.
3 min read · 02 December 2014
