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SpherePlay raises $1.26 mln from Anges Québec, BDC CapitalSpherePlay, a Montréal-based developer of media player software and video rendering engines, has raised $1.26 million in funding. The round was backed by 16 members of Québec angel network Anges Québec, Anges Québec Capital Fund and BDC Capital. SpherePlay has created a multi-platform solution that allows broadcasters and media companies to distribute virtual reality content on their own platforms. Launched in 2014 by CEO Christian Eve-Lévesque and CTO Stéphane Lévesque, the company will use the funds raised to continue optimizing its product and accelerate deployment.
Large share of SMEs expect to acquire in five years: BDCForty-four percent of Canadian companies with 20 employees or more expect to acquire another business in the coming five years, according to a new report from the Business Development Bank of Canada (BDC). What Do Buyers Look for When Purchasing a Business? found most buyers are targeting a profitable, stable business, often to achieve horizontal integration or increased geographic presence. The study, conducted by BDC in partnership with Nielsen, is based on a survey of more than 2,500 small and medium-sized enterprises in the spring of 2017.
Digital trends to reshape Canadian business landscape: BDCA new report from the Business Development Bank of Canada (BDC) identifies six emerging trends that pose both challenges and opportunities to the owners of Canadian small businesses. In Future-Proof Your Business: Adapting to Demographic and Technology Trends, BDC highlights the results of a survey of 1,413 business leaders about the influence of workforce and technological changes. The survey found, for example, that while small businesses that have adopted digital technologies have seen major benefits to customer experience, revenue growth, cost efficiency and productivity, current levels of adoption remain "quite low" overall.
VC-backed Metamaterial Technologies wins $5.4 mln from SDTCSustainable Development Technology Canada (SDTC) has invested about $5.4 million in Metamaterial Technologies Inc (MTI), a Halifax-based smart materials and photonics company. Dr. George Palikaras, founder and CEO of MTI, said the funds raised will help advance the company's development and commercialization of a light-weight and high-efficiency silicon-based solar cell technology suitable for the transportation industry. The SDTC investment follows the close of MTI's $8.3 million Series A financing /canada/2017/4/3447730/ earlier this year. The round was led by Radar Capital and joined by Innovacorp and other investors.
Volta Labs, BDC, Innovacorp launch Atlantic Canada micro-fundHalifax innovation hub Volta Labs has partnered with BDC Capital and Innovacorp to launch Volta Cohort, a program to help early-stage company founders in Atlantic Canada secure venture capital sooner. The program will feature a micro-fund that supplies investments of $25,000 to up to five companies selected in a pitch event hosted biannually by Volta Labs. Venture-backed startups will be given space at Volta Labs and access to mentoring and other resources. BDC Capital's Michelle Scarborough said the program will help local first-time founders "turn their startup ideas into actual revenue-generating businesses."
Sophie Forest named angel of the year by NACO, BDC CapitalSophie Forest, managing partner at Brightspark Ventures, has won the 2017 Canadian Angel of the Year Award, the National Angel Capital Organization (NACO) announced. The award, which is sponsored by BDC Capital, recognizes an individual who has made a significant contribution to the evolution of angel investing in Canada. Since joining Brightspark in 2003, Forest has led and managed more than 50 investments in technology companies. She played an especially key role in growing Radian6, acquired in 2011 by Salesforce for US$326 million. Prior to Brightspark, Forest was a partner at CDP Capital Technology Ventures.
Robotics maker Kinova raises $25 mln in FMQ-led financingKinova, a Canadian designer and manufacturer of robotic solutions, has secured $25 million in funding. The investment was led by Fonds Manufacturier Québécois, a fund sponsored by Caisse de dépôt et placement du Québec. It was joined by South Korea's KTB Network, Taiwan's Foxconn and BDC Capital's Growth and Transition Capital. Based in Boisbriand, Québec, Kinova develops robotics platforms to empower people with disabilities and support industrial safety and efficiency. It will use the funds raised to pursue R&D, including in the medical robotics field, sales and marketing, and production. Founded in 2006, Kinova is led by CEO Charles Deguire.
Transit rides away with $5 mln Series AMontreal-based Transit, a transit app, has raised $5 million in Series A funding, according to a blog post https://medium.com/@transitapp/transit-gets-an-a-6b62d149eefc Accel led the round with participation from Accomplice, Real Ventures and the Business Development Bank of Canada.
Over 40 pct of Canadian SME owners to exit within five years: BDCA new study by the Business Development Bank of Canada (BDC) has found that 41 percent of owners of Canadian small and medium-sized enterprises (SMEs) are likely to leave within the next five years, which is up from the mid-2000s. Most are preparing to retire, with 52 percent expecting to sell or transfer SME interests outside the family. The study found owners preparing to exit are slowing down too soon, with most showing reluctance to take risks to improve performance or undertake growth. The result may be a sale below market value. As part of its recommendations, BDC said an advanced "staging" strategy may lead to more successful exits.