Dozr, a Kitchener, Ontario-based online marketplace for heavy equipment, has secured $14 million in its latest financing. U.S. growth equity firm BaseCamp Equity Partners led the round. It was joined by FairVentures, the venture capital arm of Fairfax Financial Holdings, which led the company's $2.5 million seed round in 2016. BaseCamp's partner in the deal, construction executive Juan Carlos Mas, will join the board. Founded in 2015 by CEO Kevin Forestell, COO-CMO Erin Stephenson and Tim Forestell, Dozr uses artificial intelligence and machine learning to give platform users access to pricing and availability data from a range of equipment owners.
3 min read · 27 February 2019
Hortau, a Lévis, Québec-based provider of precision irrigation management services for agriculture, has closed a $20 million financing. The round was backed by Export Development Canada and Fonds de solidarité FTQ. These new investors and Fondaction join existing investors Aviro Capital, Advantage Capital Partners, BDC Capital and Capital régional et coopératif Desjardins. The funds raised will support product development and continued global growth. Founded in 2002 by CEO Jocelyn Boudreau and Jean Caron, Hortau helps growers manage irrigation scheduling and crop stress, optimize growth, and reduce water use, energy consumption and nutrient loss.
4 min read · 27 February 2019
MedStack, a Toronto-based privacy and security compliance solution for healthcare apps, has raised $2.4 million in a seed-stage financing. The round was led by Telus Ventures, the strategic investment arm of Telus Corp. It was joined by ScaleUP Ventures, Panache Ventures, Ontario Centres of Excellence and angel investors. Founded in 2015 by CEO Balaji Gopalan and CTO Simon Woodside, MedStack builds and manages healthcare privacy compliance in cloud hosting tools. To date, more than 50 companies have leveraged its platform. The funds raised will be used for the recently-launched MedStack Control, growing teams to enhance the platform’s capabilities, and other priorities.
4 min read · 26 February 2019
MVC Technologies Inc, operating as CB2 Insights, a Toronto-based medical cannabis data company, has raised C$5.74 million in a private placement. Merida Capital Partners, a U.S. cannabis private equity firm, led the deal, investing C$3.68 million. Founded in 2014, CB2 uses clinical management and data collection software at the point-of-care to create predictive analytics for the medical cannabis sector.
3 min read · 26 February 2019
MVC Technologies Inc, operating as CB2 Insights, a Toronto-based medical cannabis data company, has raised $5.74 million in a private placement. Merida Capital Partners, a U.S. cannabis private equity firm, led the deal, investing $3.68 million. Founded in 2014, CB2 uses clinical management and data collection software at the point-of-care to create predictive analytics for the medical cannabis sector. The company, which is undertaking a reverse takeover to gain a public listing in Canada, will use the funds raised for a clinical acquisition strategy in the United States.
3 min read · 26 February 2019
Vancouver-based cybersecurity startup Cmd has raised nearly $20 million (US$15 million) in a Series B financing. The round, which brings total funding to $28.6 million (US$21.6 million), was led by GV, formerly Google Ventures. It was joined by Expa Capital, Amplify Partners and other investors. GV General Partner Karim Faris was appointed to the board. Founded in 2016 by CEO Jake King and Executive Chair Milun Tesovic, Cmd has created a security platform that helps organizations control and gain visibility into production workloads in the cloud and on-premise. The company will use the funds raised to grow product and engineering teams as it develops new defensive capabilities for its platform.
4 min read · 26 February 2019
Breathe Life, a Montréal-based provider of consumer-focused solutions for the insurance industry, has raised C$4.5 million in a seed-stage financing. The round was led by Diagram Ventures and joined by Real Ventures, both Canadian venture capital firms. The company is also backed by angel investors. Founded in 2017, Breathe Life provides life and health insurance carriers, distribution organizations and advisors with white-label solutions to find, convert and retain customers.
4 min read · 26 February 2019
LXRandCo Inc (TSX: LXR), a Montréal-based omni-channel retailer of branded vintage luxury handbags and accessories, has launched a private placement to raise about $5 million. The investors are affiliates of Gibraltar & Co, a Canadian consumer-focused private investment firm, and Star Orange Enterprise Pte Ltd, an affiliate of Rattha Group. LXR will use the proceeds to fund its strategic plan, which includes expanding the company's retail network in Canada and the United States. In 2017, Gibraltar Growth Corp, a Canadian special purpose acquisition corporation (SPAC), acquired LXR Produits de Luxe International Inc for $82.5 million. The SPAC was renamed LXRandCo.
5 min read · 26 February 2019
Swiss mining private equity firm Pala Investments has acquired about $19 million worth of common shares in Cobalt 27 Capital Corp (TSX-V: KBLT), a Toronto-based electric metals investment vehicle. The deal increases Pala's interest in the company to about 18.5 percent. Established in 2017, Cobalt 27 invests in metals key to technologies of the electric vehicle and battery energy storage markets. It is led by Chairman and CEO Anthony Milewski, a Pala managing director. In January, Cobalt 27 agreed to acquire Highlands Pacific Ltd, an Australian mining company.
2 min read · 26 February 2019
Equinox Gold Corp (TSX-V: EQX) has struck a deal to receive $172 million (US$130 million) in convertible notes from Mubadala Investment Co, an affiliate of the Abu Dhabi government. With full conversion of the notes, Mubadala would hold an 18 percent stake in Equinox. The investor will also be able to nominate a board member. The Vancouver-based mining company will use the deal's proceeds for refinancing debt, working capital and construction of Phase One of its Castle Mountain Gold Mine in California. Equinox was established in 2017 through a merger. It is also backed by Australian mining private equity firm Pacific Road Resources Funds.
4 min read · 26 February 2019
