Videogami Inc has secured undisclosed funding from York Angel Investors. Headquartered in Toronto, Videogami has developed a cloud-based platform that allows fans to engage in live video of concerts and sporting events, and save and share content with their social networks. The company was founded in 2013. Based in Toronto, York Angel Investors is a group of accredited investors who typically invest between $150,000 and $1 million in early-stage technology companies.
2 min read · 02 December 2014
Emerald Technology Ventures, which has offices in Toronto and Zurich, Switzerland, has led an undisclosed growth investment in Optimatics, a provider of software platforms and tools that enable optimal water services. As a result of the funding deal, Emerald investment director Dr. Helge Daebel has joined the company's board of directors. Established in 1996, Optimatics operates from offices in Overland Park, Kansas and Adelaide, Australia. Emerald is focused on investing in the areas of energy, water, advanced materials and industrial information technology.
3 min read · 02 December 2014
Redlen Technologies Inc recently raised an additional $2 million in funding. BC Advantage Funds (VCC) made a $1.5 million preferred share investment in the company, with a further $500,000 coming from Redlen shareholders and directors. Headquartered in Saanichton, British Columbia, Redlen is a maker of high-resolution cadmium zinc telluride (CZT) semiconductor materials, radiation detectors and modules for the medical and security imaging industries. In March, the company secured $5.5 million in a round led by Canadian venture capital firm Pangaea Ventures.
2 min read · 01 December 2014
Canadian venture capital firm GrowthWorks Capital has obtained a loan of around $1 million from R.C. Morris & Company Special Opportunities Debt Fund II LP. The loan adds to the fund's previously extended $5.4 million loan, announced in 2013. In November, the Vancouver-based GrowthWorks said that Christopher Morris, principal of the R.C. Morris & Co fund, had been named the firm's new president and CEO.
3 min read · 01 December 2014
Wellington Financial has provided US$10 million in venture debt financing to a specialist in advertising planning and sales solutions for the media industry. The identity of the venture-backed company was not published. Proceeds of the transaction will support the development and launch of the company's improved delivery platform. Mark McQueen, president and CEO of the Toronto-based Wellington, said American venture-backed technology companies now make up 80 percent of the specialty finance firm's portfolio.
2 min read · 01 December 2014
Intel Corp said it has acquired PasswordBox, a Montréal-based identity management service that gives users a convenient way to log into websites and applications from any device without having to type or recall passwords, Reuters reported. The acquisition's value was not disclosed. PasswordBox last year secured US$6 million in a Series A financing round led by the OMERS Ventures and joined by several Silicon Valley angel investors.
2 min read · 01 December 2014
Technology startups in Canada are seeking to lure back expatriates from Silicon Valley with the promise of executive roles, generous stakes and the chance to stamp their mark on a nascent industry, Reuters reported. Michael Katchen is one of the first. He came home to Toronto after helping to build and then sell a company in California. Four of the 40-odd employees of his new startup, Wealthsimple, were once expatriates too.
3 min read · 28 November 2014
ChainSync has secured $500,000 in funding from an unnamed angel investor. The London, Ontario-based company said it will use the proceeds to hire additional employees. Founded in 2012 by CEO Mike DeLorenzi, ChainSync's technology enables franchise organizations to recruit more franchisees, streamline operations, monitor performance, and turn leads into customers. Earlier in 2014, the company announced that is product users in Canada, the United States, the Caribbean and the Middle East had grown to over 500.
2 min read · 27 November 2014
U.S. renewable chemical company Allylix Inc recently agreed to be acquired by Evolva Holding SA in an all-share deal estimated by Thomson Reuters to value US$61 million. Evola, a Swiss biosynthetic company that develops ingredients and processes for nutrition, health care, and wellness products, said the acquisition will expand and enhance its product and intellectual property portfolio. Founded in 2002, Allylix has been venture-backed since 2005. Its investors include Canada's Avrio Capital, which in 2012 participated in Allylix's US$18.2 million follow-on financing led by BASF Venture Capital.
6 min read · 27 November 2014
Dealmaking in Canada’s venture capital (VC) market stayed on a growth path in dollar terms in Q3 2014, according to data released by the Canadian Venture Capital and Private Equity Association (CVCA) and research partner Thomson Reuters. VC funds invested $734 million in this period, up 26 percent year over year. In the first nine months of 2014, market activity was also tracking ahead of trends in 2013, with more than $1.6 billion invested to date, up 16 percent from the year before.
5 min read · 27 November 2014
