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Five Questions with Yaletown Partners’ Brad Johns and Salil MunjalVancouver-based Yaletown Partners in April unveiled a new $135 million fund earmarked for emerging-growth technology companies in Canada. PE Hub Canada sat down with General Partners Brad Johns and Salil Munjal to talk about the fund and its goals. We also took the opportunity to discuss the latest financing of Bit Stew Systems, a data integration platform for the industrial Internet. Bit Stew has been backed by Yaletown since 2013.
- 5 Qs with Yaletown Partners’ Brad Johns and Salil Munjal
Vancouver-based Yaletown Partners, backers of Bit Stew, in April unveiled a new $135 million fund earmarked for emerging-growth technology companies in Canada. Two GPs talk about the fund and its goals.
Bit Stew Systems closes first tranche of Series C fundingBit Stew Systems Inc, a Canadian data integration platform for the industrial Internet, has wrapped up the initial close of its Series C financing. The undisclosed tranche was backed by existing investors, including Yaletown Partners, GE Ventures and BDC Capital, and new investors, including Canadian fund of funds Kensington Capital Partners. Based in Vancouver, Bit Stew has recently expanded its customer base and introduced its technology to new industries and applications. Raising more than $30 million in funding, including $20.6 million from its Series B round /canada/2015/5/bit-stew-to-expand-commercial-horizons-with-ge-led-17-2-mln-funding/ last May, the company reported record growth of late. In 2015, Bit Stew's revenue increased 171 percent year over year.
Bit Stew raises Series CBit Stew Systems announced May 19 an initial close of a Series C found. Financial terms weren’t disclosed. Investors include Yaletown Partners, GE Ventures, BDC Capital and Kensington Capital Partners. Burnaby, British Columbia-based Bit Stew provides a platform for complex data integration, data analysis, and predictive automation for connected devices on the Industrial Internet of Things (IIoT).
Dashboard: M&A trending up, but fundraising falls sharply in AprilU.S.-based fundraising fell dramatically month-over-month from March to April by 81 percent
- Hyperloop One raises $80 mln from Sherpa, EightVC, GE Ventures, Khosla, others
Hyperloop One, formerly Hyperloop Technologies, said it raised $80 million of Series B financing from existing investors Sherpa Ventures, EightVC, ZhenFund and Caspian Venture Partners, and new investors 137 Ventures, Khosla Ventures, Fast Digital, Western Technology Investment, SNCF, the French national rail company, and GE Ventures. The company is conducting an open-air technology test on Wednesday north of Las Vegas.
- Maana raises $26 mln from Saudi Aramco, Shell, GE, Chevron, Intel, Frost
Maana said it raised $26 million of Series B funding in a deal led by Saudi Aramco Energy Ventures. Also new to the round is Shell Technology Ventures. The financing was joined by existing investors GE Ventures, Chevron Technology Ventures, Intel Capital, and Frost Data Capital. The company has now raised more than $40 million.
- Arterys raises over $12 mln in Series A financing
Arterys Inc, a medical imaging company using machine learning to create diagnostic software, closed its Series A financing round at over $12 million. The investment round was led by Emergent Medical Partners with participation from new investors GE Ventures, Stanford-StartX Fund and Norwich Ventures as well as existing backers Asset Management Ventures, AME Cloud Ventures and Morado Ventures.
Northwater Capital joins $19 mln Series B funding of Arctic SandCambridge, Mass.-based semiconductor company Arctic Sand Technologies Inc has raised US$19 million in a Series B financing. The round was led by Murata Manufacturing Co Ltd and was joined by the company's existing investors, including Canadian venture capital firm Northwater Capital Management. Founded in 2011, Arctic Sand has developed technology based on power conversion intellectual property developed and licensed from the Massachusetts Institute of Technology. Its products help to significantly improve power conversion efficiency.
A new approach to innovationThe current cycle of corporate venturing is showing a rise in groups with more independence, who more readily joining follow-on rounds