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BDC Capital provides $1 mln in funding to Mobi724 GlobalMontréal-based financial technology company Mobi724 Global Solutions Inc has secured $1 million in financing from the Growth & Transition Capital division of BDC Capital. The company said it will use the proceeds to accelerate its growth, including the addition of sales and marketing resources. Founded in 2008, Mobi724 provides EMV payment, card link couponing and digital marketing solutions. It is led by CEO Marcel Vienneau. Earlier this year, BDC Capital made available $1.8 billion in fresh funding /canada/2017/4/bdc-capital-earmarks-1-8-bln-for-mezzanine-growth-equity-investing/ for investments by Growth & Transition Capital.
BDC funds, advises 49k Canadian business owners: reportThe Business Development Bank of Canada (BDC) currently provides financing or advisory services to a record 49,000 Canadian small business owners, up 17 percent from the year before. That's according to BDC’s 2016-17 annual report, released today. Montréal-based BDC, which provides entrepreneurs with risk funding through BDC Capital's venture capital, mezzanine and growth equity arms, has in the past year unveiled several new initiatives. They include a $50 million commitment /canada/2016/11/3419350/ to women-run technology companies and the launch of a second $135 million clean technology fund /canada/2016/11/bdc-capital-unveils-135-mln-fund-to-help-fill-yawning-gap-in-cleantech-investing/ BDC said its consolidated net income stood at $465 million last year.
Venture-backed Clementia raises $152 mln in Nasdaq debutMontréal biopharmaceutical company Clementia Pharmaceuticals Inc last week raised about $152 million (US$120 million) from its initial public offering on the Nasdaq Global Market. The news was noted by BDC Capital Healthcare Fund, an investor in Clementia since 2012. The company's other backers include Fonds de solidarité FTQ, Janus Henderson, OrbiMed Advisors and New Enterprise Associates. Clementia's IPO is the second completed this year by a Canadian life sciences company. In May, Vancouver's Zymeworks Inc secured about $86 million (US$64 million) /canada/2017/6/biotech-boom-continues-with-repares-90-mln-series-a-zymeworks-ipo/ from its Canadian and U.S. offering.
SDTC invests $15.5 mln in six Ontario cleantech companiesSustainable Development Technology Canada (SDTC) has invested $15.5 million in six Ontario clean technology companies. The companies are Electrovaya Inc, an electric batteries developer; BionX International Corp, a maker of electric drive systems; 3E Nano Inc, a creator of energy-efficient window coatings; GreenMantra Technologies/canada/2017/7/3464631/ a converter of recycled plastics into waxes; Peak Power Inc, a battery storage capacity specialist, and; Vive Crop Protection, an agricultural technology company. The federal government this year committed $400 million to SDTC's SD Tech Fund, which backs early-stage clean technology projects.
Milestone Pharmaceuticals nets $68 mln in Novo-led Series CMontréal clinical-stage cardiovascular company Milestone Pharmaceuticals Inc has secured more than $68 million (US$55 million) in a Series C financing. The round, which brings Milestone's total funding to more than $100 million, was led by Denmark's Novo Holdings A/S. It was joined by new and existing investors, including Forbion Capital Partners, Tekla Capital Management, Domain Associates, Fonds de solidarité FTQ, BDC Capital, Pappas Capital and GO Capital. The funds raised will be used to advance Milestone's lead product, etripamil, into Phase 3 and pre-launch development. Founded in 2005, Milestone is led by President and CEO Joseph Oliveto.
- Power Survey raises $24 mln in Series A2 financing round
Montréal-based power quality systems maker Power Survey and Equipment Ltd has raised about $24 million in Series A2 financing. The round was initiated by the company’s majority investor EnerTech Capital and Investissement Québec alongside new investors led by Cycle Capital Management joined by Fonds de solidarité FTQ and BDC Capital. Power Survey used part of the funds raised to buy Power Standards Lab Inc, a U.S. maker of electric power instruments, earlier in July.
Power Survey raises $30 mln in Series A2 financing roundMontréal-based power quality systems maker Power Survey and Equipment Ltd has raised about $30 million (US$24 million) in a Series A2 financing. The round was initiated by the company's majority investor EnerTech Capital and Investissement Québec (IQ) alongside new investors led by Cycle Capital Management, joined by Fonds de solidarité FTQ and BDC Capital. Power Survey used part of the funds raised to buy Power Standards Lab Inc, a U.S. maker of electric power instruments, earlier in July /canada/2017/7/enertech-backed-power-survey-acquires?preview=true They will also be used for geographic and product line expansion. Led by President and CEO Mario Barbaresso, Power Survey last year raised $10 million from EnerTech and IQ.
Medtech startup Highmark Interactive nets $2 mln in seed roundHighmark Interactive has raised $2 million in a seed-stage financing. The round's investors were not disclosed; however, the Toronto-based company said they include capital-market investors, medical practitioners, and Olympic and professional athletes. Founded this year, Highmark develops digital media and therapeutics solutions to address concussions and other brain injuries and diseases. Led by CEO Andy Smith, it plans to use the funds raised to grow the development team and build distribution partnerships for its games. Earlier in 2017, Highmark acquired mobile games company XMG Studio Inc.
- Greenspring Associates leads funding round for Assent Compliance
Canada-based Assent Compliance, a SaaS and data firm, has raised C$40 million in funding. Greenspring Associates led the round with participation from other investors that included Volition Capital, OpenText Enterprise Application Fund, Business Development Bank of Canada, National Research Council of Canada Industrial Research Assistance Program and Royal Bank of Canada.