Communitech, a Waterloo-based innovation and company development centre, recently announced the launch of Manulife's RED Lab within the Communitech Hub.
3 min read · 02 September 2014
Response Biomedical Corp has appointed Lewis J. Shuster as chairman of its board of directors. Outgoing chairman Dr. Peter A Thompson will remain on the board. Shuster is CEO of U.S. angel investor and strategic advisory firm Shuster Capital. Headquartered in Vancouver, Response Biomedical is a maker of on-site diagnostic tests. Update: The company is a portfolio investment of U.S. life sciences-focused venture capital firm Orbimed Advisors, 3M Co and other investors.
3 min read · 29 August 2014
Self Care Catalysts, a patient intelligence health solution company based in Toronto, has received $100,000 from the Rick Hansen Institute. The funding has been provided to the company's Patient Storylines platform and is intended to support and engage people with acute spinal cord injuries and their healthcare assistants in rehabilitation and community integration. The Patient Storylines project is one of 11 projects targeted for funding by the Vancouver-based Rick Hansen in the area of spinal cord injury research and innovation.
3 min read · 27 August 2014
IntelliView Technologies Inc has received a top-up to a January 2014 financing round provided by Canadian energy company Enbridge Inc. Export Development Canada (EDC) contributed to a second closing of the round, adding an undisclosed amount to Enbridge's original $1.5 million investment. The Calgary-based IntelliView will use the funds to support deployment of its video analytic hardware and software technologies for industrial applications, such as liquid leak detection and intrusion monitoring. Founded in 2003, the company also has been backed by Canadian early-stage venture capital firm AVAC.
3 min read · 27 August 2014
Venture capital invested in Québec declined in the first half of 2014, due primarily to the presence of more small-sized, early-stage financings, reports Réseau Capital in partnership with Thomson Reuters. A total of $161 million was invested at the end of June, down 58 percent from the first half of 2013. Early-stage companies took an above-average share of disbursements in this period. At the same time, buyout and related private equity transactions accounted for a disclosed $2.9 billion invested in Québec in the first half, an amount that already exceeds the $2.5 billion invested during the whole of 2013. Large-cap deals drove dollar flows, however; deals sized $10 million or less made up 61 percent of the total.
5 min read · 26 August 2014
Trulioo Inc, an Internet identity verification company, has received an undisclosed strategic investment from U.S.-based IT services provider UST Global. As part of the deal, UST Global's managing director of global operations Saurabh Ranjan will join Trulioo's board of advisers. In March, the company raised US$6 million in a Series A financing round led by Tenfore Holdings and joined by BDC Capital and Blumberg Capital. Based in Vancouver, Trulioo said it has verified over 100 million online identities since its launch in 2011 and today serves more than 300 customers worldwide.
3 min read · 26 August 2014
Canadian social relationship platform HootSuite Media is expected to soon secure financing from U.S. mutual fund and financial services firm Fidelity Investments, reports the Wall Street Journal citing "a person familiar with the matter." While the possibility "is still months away," the source also said an investment by Fidelity signals that an initial public offering remains HootSuite's "ultimate goal." The amount of the expected financing was not disclosed, however, it was said that HootSuite has been valued in advance at US$725 million.
2 min read · 26 August 2014
Appcelerator Inc has secured a US$22 million round of Series D financing led by U.S. venture capital firm Rembrandt Venture Partners. Another new investor, Union Grove Venture Partners, joined the round along with existing investors, which include Canadian mobile-focused venture capital firm Relay Ventures, as well as Storm Ventures, Sierra Ventures, Mayfield Fund, Translink Capital and others. Appcelerator's platform enables companies to build, analyze and connect suites of mobile apps rapidly and efficiently. It plans to use the new funds to increase growth and accelerate the adoption of its technology. Founded in 2006, it is based in Mountain View, California.
3 min read · 25 August 2014
Smart Energy Instruments Inc (SEI) has received US$5 million in follow-on funding. 3M New Ventures, the corporate venture capital investment arm of U.S.-based 3M, led the round with the participation of return Canadian investors VentureLink Funds, ArcTern Ventures and the Ontario Capital Growth Corp. Based in Toronto, SEI is a developer of next-generation technology that precisely measures power flows on the electrical grid. Update: The company said it sees 3M as an important strategic partner with which to develop solutions for utilities and electrical equipment manufacturers. SEI was profiled in a peHUB Canada feature article in June.
3 min read · 25 August 2014
Verold Inc, a software company that streamlines the development of web-based interactive 3D content, has received a follow-on financing totaling $1.6 million. The investors included Canadian venture capital firms GrowthWorks and Ontario Capital Growth Corp (OCGC), as well as Softimage founder Daniel Langlois and former Autodesk Media & Entertainment senior executive Marc Petit. Founded in 2010, the Toronto-based Verold's online tools are used in education, media, entertainment, health, automotive, e-commerce and gaming markets. The company previously has been backed by GrowthWorks and the MaRS Investment Accelerator Fund.
3 min read · 20 August 2014
