Appili Therapeutics Inc, a Halifax-based anti-infective pharmaceutical development company, has raised $3.27 million in seed-stage financing. The investors included Canadian venture capital firm Innovacorp, a number of undisclosed private investors, and federal government agencies, including the Atlantic Canada Opportunities Agency (ACOA). Founded last year with the support of Canadian healthcare investment bank Bloom Burton & Co, Appili is a developer of novel therapeutics for infectious disease. The funds raised will be used to advance development of its two antibiotic programs and move towards clinical studies.
3 min read · 25 May 2016
Rover Labs Inc, a Canadian location-based mobile marketing platform, has raised $1.1 million in seed-stage financing. BDC Capital and 500 Startups invested in the round, alongside a number of angel investors. Founded in 2014, Toronto-based Rover has developed technology that helps retailers and brands deliver smarter, location-powered mobile content. The company said it will use the funds raised to enhance its product and strengthen its sales and marketing teams. It will also intensify hiring in Rover's Toronto and San Francisco offices. Earlier this year, 500 Startups launched 500 Canada, a new US$30 million fund earmarked for Canadian startups.
4 min read · 25 May 2016
Canadian mobile app development platform Buddybuild has secured about $10 million (US$7.6 million) in a Series A financing. The round was led by Kleiner Perkins Caufield and Byers (KPCB), a U.S. venture capital firm. It was joined by the company's existing backers, which include Amplify Partners, Bloomberg Beta, First Round Capital and several angel investors. Founded in October 2015 by CEO Dennis Pilarinos and Engineers Christopher Stott and Johnny Ting Shi, Vancouver-based Buddybuild has created technology that improves the development workflow used by mobile app developers. Along with its funding announcement, the company released a new crash reporting feature called Instant Replay.
6 min read · 25 May 2016
Canadian mobile app development platform Buddybuild has secured about $10 million (US$7.6 million) in a Series A financing. The round was led by Kleiner Perkins Caufield and Byers (KPCB), a U.S. venture capital firm. It was joined by the company's existing backers, which include Amplify Partners, Bloomberg Beta, First Round Capital and several angel investors. Founded in October 2015 by CEO Dennis Pilarinos and Engineers Christopher Stott and Johnny Ting Shi, Vancouver-based Buddybuild has created technology that improves the development workflow used by mobile app developers. Along with its funding announcement, the company released a new crash reporting feature called Instant Replay.
6 min read · 25 May 2016
WSP Global Inc (TSX: WSP) has agreed to acquire Sweett Group plc, a London, U.K.-based provider of professional services for the construction and management of building and infrastructure projects. Under the deal's terms, WSP will pay Sweett shareholders 67 cents per share, valuing the company's entire issued share capital at about $46.1 million. Montréal-based WSP said the acquisition, one of several closed in recent years, enhances its project and cost management services. WSP is backed by Canada Pension Plan Investment Board and the Caisse de dépôt et placement du Québec.
7 min read · 25 May 2016
IMS Health Inc (NYSE: IMS) has acquired Privacy Analytics Inc, a Canadian provider of technology solutions for de-identifying and anonymizing healthcare data. No financial terms were disclosed. IMS Health, a U.S. health information business, said the acquisition will extend its real-world evidence capabilities and reinforce its commitment to patient data privacy. Based in Ottawa, Privacy Analytics was backed by Vanedge Capital, which led its $3.5 million financing in July 2014, BDC Capital IT Venture Fund, MaRS Investment Accelerator Fund, and other investors. IMS Health, a portfolio company of Canada Pension Plan Investment Board, agreed to merge with Quintiles Transnational Holdings Inc earlier this month.
4 min read · 25 May 2016
Montréal-based MTY Food Group Inc (TSX: MTY) has agreed to acquire the shares of Kahala Brands Ltd, a Scottsdale, Arizona-based restaurant franchising company with 2,800 stores worldwide. The deal has a total consideration of US$300 million, US$240 million of which will be paid in cash, and is expected to close within the next 75 days. MTY said the acquisition will facilitate the U.S. expansion of its quick-service franchising business. Kahala was acquired in August 2013 by Canadian private equity firms Serruya Private Equity and Delavaco Group. It has since closed several add-on acquisitions, including Planet Smoothie and Tasti D‑Lite, which were bought last June.
8 min read · 25 May 2016
A joint venture of Brookfield Property Partners (BPY) and Starwood Capital Group have agreed to sell the Interhotel portfolio to FDM Management. No financial terms were disclosed for the deal, which is expected to close in August. The Interhotel portfolio comprises nine hotels located in a number of cities across eastern Germany, including Park Inn Berlin, which is adjacent to Berlin's Alexanderplatz. FDM is an investment vehicle created by French real estate holding company Foncière des Regions and its institutional partners. BPY is an affiliate of Toronto-based alternative assets manager Brookfield Asset Management.
4 min read · 24 May 2016
U.S. private equity firm ABRY Partners has provided $25 million in growth financing to ROOT Data Center, a Canadian data centre company that provides colocation solutions to the global computer industry. ROOT, which is based in Montréal, said it would use the funds raised to complete the development of its existing data centre in LaSalle, Québec, build a second data facility, and fund its operational and staffing growth. The second data centre will be located in Baie-D'Urfe, Québec. ROOT, which is led by President and CEO AJ Byers, said it aims to make Montréal "the leading data centre city in Canada."
3 min read · 24 May 2016
Canadian venture capital firm TandemLaunch has secured $12 million in the first close of its third fund, TandemLaunch Ventures II. BDC Capital was the lead investor in the fund, committing $4 million, with the balance accounted for by Guy Laliberté's Lune Rouge Innovation, Speed of Trust Ventures, YUL Ventures, Nathalie Marcoux and Jean-Francois Grenon. Founded in 2010 by General Partner Helge Seetzen, TandemLaunch creates, incubates and provides seed funding to companies in consumer electronics and multimedia technologies. Its portfolio investments include Landr Audio, Mirametrix, which PE Hub Canada profiled along with TandemLaunch in June 2014, and Sportlogiq.
3 min read · 24 May 2016
