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Canadian VC begins 2019 with heft as top Q1 deals raise $667 mlnAfter nine straight years of growth, Canada’s venture capital market showed no signs of slowing down in early 2019. The top 10 first-quarter VC financings drew $667 million from VC funds. While that’s down 28 percent from the $923 million raised by the top 10 deals a year earlier, it exceeds first-quarter results in other recent years. The estimate is based on PE Hub Canada’s list of the largest rounds announced from January through March, supplemented by preliminary data from Refinitiv. It suggests that despite increasing market uncertainty, trends in early 2019 reflect many of the same factors that drove soaring Canadian VC investment activity last year.
Australia's BHP invests $7.9 mln in Carbon EngineeringAustralian mining company BHP has invested $7.9 million (US$6 million) in Carbon Engineering Ltd (CE), a Squamish, British Columbia-based emissions reduction company. The investment comes two months after CE secured undisclosed financing from Occidental Petroleum Corp and Chevron Corp. The company told Reuters it expects to raise /canada/2019/01/chevron-occidental-invest-in-carbon-engineering-reuters/ US$60 million by the end of Q1 2019. CE makes technologies that remove carbon dioxide from the air and convert it into clean transportation fuels. It emerged in 2009 from research conducted at the University of Calgary and Carnegie Mellon University. Led by CEO Steve Oldham, CE will use the funds raised for its global commercialization strategy.
BDC, Chevron top up Inventys’ Series C round to $16 mlnInventys, a Vancouver-based carbon technology company, has raised $5 million from BDC’s cleantech practice as well as a follow-on investment from Chevron Technology Ventures. The investments add to the Series C financing raised by Inventys in 2018, bringing the total to about $16 million. The round’s first tranche was led by OGCI Climate Investments. The company said it is planning for a final close of about $21 million before the end of June.
- BDC, Chevron top up Inventys' Series C round to $21 mln
Inventys, a Vancouver-based carbon technology company, has raised about $6.6 million (US$5 million) from BDC’s cleantech practice as well as a follow-on investment from Chevron Technology Ventures. The investments add to the Series C financing https://admin.venturecapitaljournal.com/canada/2018/07/inventys-raises-initial-14-5-mln-of-planned-series-c-financing/ raised by Inventys in 2018, bringing the total to about $21 million (US$16 million). The round’s first tranche was led by OGCI Climate Investments. The company said it is planning for a final close of about $28 million (US$21 million) before the end of June. The funds raised will help Inventys complete and commercialize a CO₂ capture demonstration plant project with Husky Energy Inc.
- Chevron Technology Ventures backs Natron Energy
Santa Clara, California-based Natron Energy, a developer of new battery products, has secured an undisclosed amount of funding. The investor was Chevron Technology Ventures.
- Electric vehicle charging network ChargePoint procures $240 mln
Campbell, California-based ChargePoint, an electric vehicle charging network, has secured $240 million in Series H funding. The investors included Pension Plan Investment Board, Chevron Technology Ventures, Quantum Energy Partners, BMW i Ventures, Braemar Energy Ventures, Linse Capital and Siemens. In addition to the funding, Jeffrey Harris, a venture partner at Quantum Energy Partners, will join the ChargePoint board of directors.
- Mission Secure nabs Series A funding
Charlottesville, Virginia-based Mission Secure Inc, a control system cybersecurity company focused on energy, defense, and transportation, has raised an undisclosed amount of Series A financing. Energy Innovation Capital and Chevron Technology Ventures led the round.
- Seeq raises $23 mln from Altira, Chevron Technology and others
Seattle-based Seeq Corp, a provider of industrial internet of things advanced analytics software, announced it has raised $23 million in Series B funding. Altira Group led the round with participation by Chevron Technology Ventures, next47, the Siemens-backed global venture firm, Second Avenue Partners and other existing investors. As part of the round, J.P. Bauman, a principal with Altira, has joined the board. Next47 and Chevron will each have observer status. The company, founded in 2013, has now raised about $35 million in total funding.
Inventys raises initial $14.5 mln of planned Series C financingVancouver-based clean technology company Inventys has secured an initial $14.5 million (US$11 million) for its Series C financing. The round was led by U.K.-based OGCI Climate Investments and joined by existing investors Roda Group and Chevron Technology Ventures. Inventys plans to raise additional funding for the Series C, increasing it to about $27.6 million (US$21 million). Inventys is developing a CO2 marketplace using next-generation carbon-capture technology at half the cost of conventional systems. The company will use the funds raised to back a CO₂ capture pilot plant demonstration program with Husky Energy Inc as well as its time-to-market strategy.