Amplitude Ventures related stories
All articles and analysis
BDC Capital finances PetalMD's acquisition of XactePetalMD Solutions has acquired Xacte, a Québec City-based company specializing in web solutions for medical billing. No financial terms were disclosed. The deal was backed by the Growth and Transition Capital division of BDC Capital as part of its investment in PetalMD's Canadian and European growth strategy. PetalMD, a Québec City-based provider of web and mobile productivity tools to healthcare professionals, said the Xacte buy will add more value to its products. Founded in 2009 by CEO Patrice Gilbert, the company currently serves more than 37,000 physician users in over 150 healthcare institutions and 1,400 hospital departments.
- Canadian VC sees biggest Q1 since dot-com era as top deals nab $927 mln
Canada’s venture capital market has started the year with a bang. The top 10 first-quarter VC financings drew a substantial $927 million from investors. That’s up 40 percent from the $661 million raised by the top 10 deals a year earlier and close to twice the $491 million raised by the top 10 deals in Q1 2016. The estimate is based on PE Hub Canada’s list of the largest rounds announced from January through March, supplemented by Thomson Reuters data.
Coveo raises $100 mln in Evergreen Coast-led investmentCoveo, a Québec City-based provider of artificial intelligence-powered insight engines, has raised $100 million in follow-on financing. The deal was led by Evergreen Coast Capital, the private equity affiliate of U.S. investment management firm Elliott Management Corp. Elliott secured a 27 percent stake as a result. Founded in 2005 and led by CEO Louis Têtu, Coveo serves more than 1,000 customers worldwide. The company will use the funds raised to accelerate growth by investing in sales and marketing, channels, new product lines and R&D, and by making acquisitions. Coveo's existing investors include BDC Capital, Fonds de solidarité FTQ, Tandem Expansion Fund and Telesystem.
Venture-backed Element AI heads to Europe via LondonMontréal artificial intelligence solutions company Element AI has expanded to Europe, opening an AI lab in London. The office, which will be led by Dr. Julien Cornebise, formerly of DeepMind Technologies Ltd, will serve as the company's European hub, building networks with corporations, governments and research bodies to support "AI for good" and advance Element AI's global network. Its focus will include leveraging AI applications, contributing to research, and connecting talent. Last year, Element AI raised $137.5 million in a Series A financing /canada/2017/6/element-ai-raises-137-5-mln?preview=true
SDTC invests $5.9 mln in VC-backed agtech company HortauHortau Inc, a Lévis, Québec-based provider of precision irrigation management services for agriculture, has received an investment of $5.9 million from Sustainable Development Technology Canada (SDTC). The funds raised will support Hortau's platform, consisting of hardware, software and communication systems, which help farmers better manage irrigation and reduce water consumption and pesticide use. Founded in 2002, Hortau is backed by /canada/2016/2/smart-irrigation-platform-hortau-secures-10-mln-in-funding/ Advantage Capital Partners, Avrio Capital, BDC Capital, Capital régional et coopératif Desjardins, Telesystem and other investors.
Canadian VC hits 16-year high in 2017 as top deals raise $1 blnFor Canada’s venture capital market, 2017 was a remarkable year. The story is told partly in milestones. They include the largest financing of a local IT company in 25 years (Lightspeed); the largest round on record for an artificial-intelligence startup (Element AI), and strategic funding of a top maker of laser sensors used in self-driving cars (LeddarTech). They were among Canada’s top 10 venture-capital financings last year, which together raised more than $1 billion from investors. The number is based on PE Hub Canada’s list of the largest deals announced in 2017, supplemented by preliminary data from Thomson Reuters.
- Temasek, Tencent among backers of Real Ventures IV’s $180 mln close
Real Ventures has raised $180 million for its fourth early-stage fund with the help of an expanded LP base, including two powerhouse Asian investors won over by the firm’s artificial-intelligence strategy. The Montréal venture firm this week announced the close of Real Ventures IV at its hard cap. It is backed by more than 60 LPs, among them new LPs Caisse de dépôt et placement du Québec, Boston-based HarbourVest, Singapore sovereign-wealth fund Temasek and Chinese tech giant Tencent. They join returning LPs Teralys Capital, BDC Capital and Investissement Québec.
Element AI helps launch $45 mln Korean AI innovation fundMontréal artificial intelligence solutions company Element AI has helped launch a new US$45 million fund to invest in emerging AI technologies in Korea and around the world. The fund, backed by Korea's SK Telecom Co Ltd, Hyundai Motor Co and Hanwha Group, will target the most promising sectors of commercial AI applications and infrastructure, including autonomous vehicles, household robots, manufacturing, drones and hardware. It will be managed by the three Korean companies and advised by Element AI. In June, Element AI raised $137.5 million in a Series A round /canada/2017/6/element-ai-raises-137-5-mln?preview=true to create and incubate AI solutions in partnership with corporations and research institutions.