Toronto-based mobile on-demand dating service Clover has closed a $7 million equity and convertible debenture financing. Jackson Investment Group, a U.S. private investment firm, led the round. Launched in 2013 by Isaac Raichyk, the startup's CEO, Clover has so far helped streamline the dating process for 4 million mobile users, most of them based in the United States and in the 18-to-34 age group. The company, which is also backed by Social Starts, plans to use the funds raised to expand its team, launch new features, and accelerate user acquisition.
2 min read · 17 January 2018
Hyr, a Toronto- and New York-based labour marketplace for the new economy, has secured about $1.6 million (US$1.3 million) in a seed-stage financing. The round, which brings Hyr's total funding to date to US$2.4 million, was led by Flybridge Capital Partners and joined by Newark Venture Partners and XFactor Ventures. Founded in 2015 by CEO Joshua Karam and CMO Erika Mozes, Hyr's mobile platform connects businesses like restaurants, hotels and retailers with workers to fill shifts, on-demand. It will use the funds raised to expand, reach into new Canadian and U.S. locations, and add new sectors and workers to the platform.
3 min read · 17 January 2018
Instacart has acquired Unata, a Toronto-based provider of digital solutions to grocery retailers. Terms weren’t disclosed; however, Bloomberg reported the deal’s value at $65 million. Instacart, a U.S. on-demand grocery delivery service, said the deal will create a one-stop shop for brick-and-mortar retailers to “effectively compete in an increasingly online world.” It added that Unata will retain its name and headquarters and continue to be led by CEO Chris Bryson. Founded in 2011, Unata was backed by GTAN, Mantella Venture Partners, MaRS Investment Accelerator Fund and others. Instacart is backed by Andreessen Horowitz, KPCB, Sequoia Capital and others.
3 min read · 17 January 2018
EStruxture Data Centers Inc has raised an additional investment from Fengate Real Asset Investments and a new, expanded debt financing facility, bringing its total funding to $180 million. Fengate joins Caisse de dépôt et placement du Québec and Canderel, which last year capitalized the launch of eStruxture, a Montréal-based provider of network and cloud-neutral data centre solutions. The facility was provided by Scotiabank, National Bank of Canada and Investissement Québec. EStruxture said the additional funds raised will help it continue growing across Canada through both organic and inorganic expansion opportunities.
3 min read · 17 January 2018
Wattpad, a Toronto-based multi-platform entertainment company for original stories, has raised about $61.25 million (US$51 million) in fresh funding. Investors included Tencent Holdings, BDC Capital, Kickstart Ventures, Peterson Group and Raine. Founded in 2006, Wattpad has created a social platform that builds direct connections between readers and writers. Its community now totals more than 65 million people. The company, which has so far secured US$117.8 million in venture capital, will use the latest funds raised to grow its team, invest in machine learning and interactive storytelling, expand its footprint in TV, film, digital media and publishing, and for other innovations.
4 min read · 17 January 2018
Ontario Capital Growth Corp (OCGC), an agency of the Ontario government, said it plans to commit $60 million to venture capital funds investing in sectors of interest to the provincial economy. OCGC, launched in 2009, will commit the capital alongside institutional, corporate and other investors in specialty funds focused on opportunities in clean technology, information technology, and life sciences. Led by President and CEO Steve Romanyshyn, OCGC reports its market activity has helped leverage more than $300 million invested in technology companies.
2 min read · 16 January 2018
Canada Pension Plan Investment Board and Australian property and infrastructure firm Lendlease have launched an investment partnership focused on the United Kingdom's build-to-rent private rental sector. The partnership will target an initial £1.5 billion ($2.6 billion) to investments with Lendlease developing and managing the build-to-rent homes. An investment of £450 million has already been made in the next phase of new homes at a Lendlease development in London's Elephant and Castle. CPPIB will account for 80 percent of the deployment, with Lendlease investing the balance.
4 min read · 16 January 2018
Vention, a Montréal-based digital manufacturing platform dedicated to machine design, has secured $3.5 million in seed-stage financing. White Star Capital led the round with participation from Bolt, Real Ventures and several technology executives. Founded in 2016 by CEO Etienne Lacroix and CTO Max Windisch, Vention with the round announced the first public launch of its free, cloud-based 3D MachineBuilder, which with a modular component library allows users to design and assemble custom industrial equipment directly from a web browser in a short time. The company said it will use the funds raised to accelerate development of the platform on the hardware and software fronts.
5 min read · 16 January 2018
A study by the Business Development Bank of Canada (BDC) has found that Canadian small and mid-sized enterprises (SMEs) plan to invest more this year. Inspired by higher-than-expected economic growth in 2017, SMEs intend to invest $140.5 billion in 2018, up 3 percent from a year ago. Much of the increase in planned investment is due to an enhanced focus on acquisitions, which will account for $18.9 billion in 2018, up 79 percent year over year. SMEs also plan to invest more on R&D and employee training, an area that seen consistent growth since 2015. The BDC study is based on a survey conducted late last year of 4,019 business owners.
3 min read · 16 January 2018
Instacart has acquired Unata, a Toronto-based provider of digital solutions to grocery retailers. Terms weren't disclosed; however, Bloomberg reported the deal's value at US$65 million. Instacart, a U.S. on-demand grocery delivery service, said the deal will create a one-stop shop for brick-and-mortar retailers to "effectively compete in an increasingly online world." It added that Unata will retain its name and headquarters and continue to be led by CEO Chris Bryson. Founded in 2011, Unata was backed by GTAN, Mantella Venture Partners, MaRS Investment Accelerator Fund and others. Instacart is backed by Andreessen Horowitz, KPCB, Sequoia Capital and others.
3 min read · 16 January 2018
