Vancouver-based dropshipping marketplace Spocket has raised $1.5 million in funding, according to a report by BetaKit. The round's investors included 7 Gate Ventures, Mistral Venture Partners, Panache Ventures and Plug and Play Ventures, the report said. Launched last year by CEO Saba Mohebpour, Spocket helps small online retailers manage product shipping and inventory through the dropshipping model. More than 20,000 retailers use its technology, the company reports. Spocket will use the funds raised for new hires, marketing and platform growth, BetaKit said.
1 min read · 22 August 2018
Latch, a New York-based maker of a smart access system, has raised US$70 million in a Series B financing. The round was led by Brookfield Ventures, the technology investment arm of Canadian alternative assets manager Brookfield Asset Management. It was joined by Lux Capital, RRE Ventures, Primary Venture Partners, Third Prime, Camber Creek, Corigin Ventures, Tishman Speyer and Balyasny Asset Management. Brookfield Properties is installing Latch's system throughout its multi-family properties in development, the company said.
5 min read · 22 August 2018
U.S. financial services provider BTIG LLC and its affiliate, Pacific View Asset Management LLC, have invested in Indigena Capital, an investor in partnerships with Indigenous Nations. Terms weren't disclosed. Based in Dallas and Calgary, Indigena identifies, capitalizes and executes on opportunities generated from the rights and resources controlled by Tribal Nations in the United States, and First Nations, Inuit and Métis peoples in Canada. The firm has investments in agriculture, renewable power, real estate, infrastructure and other sectors. Indigena is led by CEO John Jurrius, who previously headed Native American Resource Partners, a Calgary-based, private equity-funded investment firm.
3 min read · 22 August 2018
CIBC Innovation Banking has provided undisclosed growth financing to Chatkit, a Toronto-based artificial intelligence-enabled conversational marketing platform. Founded in 2016 and led by CEO Mazdak Rezvani, the former CTO of Chango, Chatkit’s chatbot technology helps brands manage and automate conversations with their customers on chat channels. Last year, Chatkit closed a seed-stage financing backed by Mantella Venture Partners, iNovia Capital and 500 Startups Canada. CIBC Innovation Banking launched in January with CIBC’s acquisition of the assets of Canadian specialty finance firm Wellington Financial.
2 min read · 22 August 2018
Caprion Biosciences Inc has acquired Primity Bio Inc, a Fremont, California-based provider of biomarker and immune monitoring services. Terms weren't disclosed. Caprion is a Montréal-based provider of immunology and proteomics laboratory services to the pharmaceutical and biotechnology industry. It said the buy will expand its immunology and molecular profiling service offering and give the company an operational location in the United States. The add-on deal is Caprion's second since it was acquired two years ago by U.K. healthcare private equity firm GHO Capital Partners. GHO bought the business from Chicago Growth Partners.
4 min read · 22 August 2018
Slack, an enterprise messaging software provider, said it raised US$427 million in a Series H financing at a post-money valuation of more than US$7.1 billion. The round was led by Dragoneer Investment Group and General Atlantic. They were joined by T. Rowe Price Associates, Wellington Management, Baillie Gifford, Sands Capital and the company's existing investors. The Series H round brings total financing raised by Slack to about US$1.3 billion. San Francisco-based Slack, which has an office in Vancouver, was launched in 2014 by CEO Stewart Butterfield, a Canadian entrepreneur.
2 min read · 21 August 2018
A joint venture that includes Public Service Pension Investment Board (PSP Investments) has agreed to acquire Bengerang Ltd, an owner and operator of agricultural land and water assets in Australia. The joint venture, called AFF JV, is buying the business from Webster Ltd for about A$132.7 million ($126.8 million). As part of the deal, PSP Investments will become the largest shareholder in Webster, an Australian agribusiness, acquiring a 19.15 percent stake and the right to a board seat. PSP Investments' partner in AFF JV is the holding company of Australia's Robinson family.
5 min read · 21 August 2018
OMERS Ventures has invested in DuckDuckGo, a Paoli, Pennsylvania-based internet search engine that protects web searchers’ privacy. The investment's value was not disclosed; however, the Globe and Mail reported OMERS led the company's US$10 million financing. Founded in 2008 by CEO Gabriel Weinberg, DuckDuckGo's technology facilitates private searching online without storing or sharing any personal information. It said the partnership with OMERS will support its global growth. DuckDuckGo's other backers include Union Square Ventures and several angel investors.
2 min read · 21 August 2018
OMERS Infrastructure Management has agreed to acquire a 50 percent interest in BridgeTex Pipeline Co LLC, owner of the BridgeTex pipeline, a 400,000 barrel-per-day crude oil pipeline system located in Texas. OMERS will pay US$1.438 billion for the stake, which is being sold by Plains All American Pipeline and Magellan Midstream Partners. Plains and Magellan will retain 20 percent and 30 percent interests respectively, while Magellan will continue to operate the pipeline. The deal is expected to close in the fourth quarter. BridgeTex will be OMERS' third investment in U.S. energy infrastructure this year.
3 min read · 21 August 2018
Canvass Analytics, a Toronto-based provider of artificial intelligence (AI)-enabled predictive analytics for the industrial internet of things, has raised about $6.5 million in financing. The round was led by Gradient Ventures, the AI venture capital arm of Google. It was joined by new investors Bedrock Industries and Viaduct Ventures, as well as existing investors Real Ventures and Barney Pell. Launched in 2016 and led by CEO Humera Malik, Canvass' technology helps industrial customers to rapidly implement and scale automated industrial operations. Its users include automotive, aerospace, energy, and food and agriculture companies. Canvass said it will use the funds raised for growth.
4 min read · 21 August 2018
