The Business Development Bank of Canada related stories
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BDC, EDC, Roynat back Highland West-led investment in BIDExport Development Canada (EDC) said it invested $13.5 million in BID Group Holdings Ltd, a Prince George, British Columbia-based turnkey supplier of equipment, services, software and installations to the forest products industry. As reported by PE Hub Canada last month /canada/2017/6/highland-west-goes-big-with-investment-in-forest-industry-supplier-bid/ the deal was led by Highland West Capital, a Canadian private equity firm. Other members of the investor group included BDC Capital's Growth & Transition Capital and Roynat Equity Partners. Founded in 1983, BID's operations reach into the main sawmilling areas of North America. Backed by the consortium, it plans to continue growing organically and via acquisitions.
Hubdoc raises $4.85 mln in BDC, Round13-led seed roundToronto cloud accounting platform Hubdoc Inc has secured about $4.85 million in seed-stage financing. The round was led by Canadian venture capital firms BDC Capital and Round13 Capital and joined by Hyde Park Venture Partners and other investors. Hubdoc is led by co-CEOs Jamie Shulman and Jamie McDonald.
Hubdoc raises $6.4 mln in BDC, Round13-led seed roundToronto cloud accounting platform Hubdoc Inc has secured about $6.4 million (US$4.85 million) in a seed-stage financing. The round was led by Canadian venture capital firms BDC Capital and Round13 Capital and joined by Hyde Park Venture Partners and other investors. Founded in 2011, Hubdoc has developed an accounting application that uses cloud computing and machine learning to collect and analyze documents for financial reporting, reconciliation and audit proofing. It will use the funds raised to scale growth globally, accelerate innovation and hire new team members. Hubdoc is led by co-CEOs Jamie Shulman and Jamie McDonald.
Xpertdoc raises $2.3 mln in mezz funding from BDC CapitalTerrebonne, Québec-based software company Xpertdoc Technologies Inc has secured $2.285 million in mezzanine financing from BDC Capital's Growth and Transition Capital. The funds raised helped the company invest in the construction of a new building and attract and retain information technology professionals. Founded in 2000 by CEO Francis Dion, Xpertdoc provides document generation and customer communications management solutions. It reports achieving a 40 percent year-over-year growth rate over the past six years, in part due to U.S. sales.
- BDC Capital provides $1.725 mln to Xpertdoc
Xpertdoc Technologies, a Canadian provider of customer communications management solutions, has raised $1.725 million in funding. The investor was BDC Capital, the investment arm of the Business Development Bank of Canada.
Element AI raises $137.5 mln in DCVC-led Series A financingMontréal artificial intelligence solutions company Element AI has raised about $137.5 million (US$102 million) in a Series A financing. The round, which Element AI said is the largest on record for an AI startup, was led by DCVC and joined by Real Ventures, BDC Capital, Fidelity Investments Canada, Hanwha Investment, Intel Capital, Microsoft Ventures, National Bank of Canada, NVIDIA, Tencent and several unidentified sovereign wealth funds. Founded last October /canada/2016/10/real-ventures-helps-found/ Element AI creates and incubates AI solutions in partnership with corporations and research institutions. It will use the funds raised to accelerate its capabilities and invest in AI projects internationally.
Urban data platform Local Logic nets $1.15 mln in Cycle-led roundLocal Logic Inc, a Montréal specialist in urban data collection and analysis, has secured $1.15 million in a first-time financing. The round was led by Canadian venture capital firm Cycle Capital Management, with participation from BDC Capital, 500 Startups Canada and Yellow Pages Group. Founded in 2014, Local Logic is focused on collecting, cleaning, and combining data to help consumers, real estate companies, investors, urban planners and others make more informed decisions about locations. Led by CEO Vincent-Charles Hodder, it plans to use the funds raised to expand into the United States and develop new markets for its technology.
Lumira IV to donate profit portion to healthcare foundationsCanadian life sciences venture capital firm Lumira Capital said that a portion of the profit share from its latest fund, Lumira Capital IV, will be donated to up to fifteen healthcare foundations in Canada. The donation will support foundations' research, translational medicine and healthcare access missions. Additionally, affiliated foundation institutions will gain access to Lumira's team and networks to accelerate their strategies. Lumira said the initiative was welcomed by fund investors, including BDC, Caisse de dépôt et placement du Québec, Fondaction CSN, Fonds de solidarité FTQ, Iljin, Kensington Capital Partners, Northleaf Capital Partners and Teralys Capital.
Zoom.ai secures $2.1 mln in EVP-led seed financingCanadian chatbot startup Zoom.ai Inc has raised $2.1 million in a seed-stage financing. Ten venture capital firms and angel investors backed the round, including leader Extreme Venture Partners (EVP) as well as Betaworks NYC, MaRS IAF, Golden Triangle Angel Network, BDC Capital, Good News Venture Partners, TribalScale and others. Founded last year by CEO Roy Pereira, Toronto-based Zoom.ai has developed an automated virtual assistant that helps offload unimportant workplace tasks and increase productivity. The company will use the funds raised to expand its team to include sales, customer success, support and marketing.