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Klipfolio raises $9 mlnKlipfolio said Jan. 5 that it raised C$12 million ($9 million) in a Series B funding round led by OMERS Ventures. All the investors from Klipfolio's 2015 Series A and 2014 seed rounds also took part. Klipfolio, of Ottawa, is a provider of cloud business dashboard.
BDC, RBC finance TeraXion's buyback of shareholders' equityTeraXion has repurchased the equity held by its long-time venture capital investors Fonds de solidarité FTQ, Caisse de dépôt et placement du Québec, Fondaction CSN and Accès Capital. The buyback deal, the terms of which were not disclosed, was financed by BDC Capital's Growth and Transition Capital and Royal Bank of Canada (RBC). Québec City's TeraXion said it has undergone a business review and restructuring since it sold /canada/2016/1/vc-backed-teraxion-to-sell-photonics-assets-to-ciena-for-47-mln/ its integrated photonics division to Ciena Corp in early 2016. It added that BDC and RBC will support its continued growth and development.
Encycle secures initial tranche of $11.5 mln financing roundEncycle Corp, formerly known as Regen Energy Inc, has closed an initial tranche of an $11.5 million financing. Prelude Ventures and NGEN Partners led the investment and were joined by BDC Capital, Duke Ventures, Export Development Canada and EnerTech Capital. Founded in 2005, Toronto's Encycle has developed technology that enhances the performance of heating, ventilation and air conditioning systems to help commercial and industrial companies incur savings and reduce their carbon footprint. It will use the funds raised to support the launch of its latest product. Encycle also has offices in San Marcos, California and Taunton, United Kingdom.
Smart factory platform Worximity inks $2 mln financing dealWorximity Technology Inc has raised $2 million in funding, adding to the $2 million raised in the company's seed round /canada/2015/12/smart-factory-platform-worximity-raises-2-mln-in-seed-funding/ last year. The latest financing was backed by existing investors, W3 Investments and Fonds de solidarité FTQ, as well as a new investor, BDC Capital. Montréal-based Worximity provides connectivity solutions that enable factory managers and workers to monitor production in real time. Since it was founded in 2011 by President Yannick Desmarais, the company reports helping to improve the performance of over 500 North American production lines. It will use the funds raised to advance development of its monitoring technology.
- Worximity nets $2 mln
Montreal-based Worximity Technology, a producer of smart industrial technologies, has inked an agreement to secure $2 million in financing. The investors are W3 Investments, the Fonds de solidarité FTQ and BDC Capital.
AIMCo provides $219 mln in financing to Savanna Energy ServicesAlberta Investment Management Corp (AIMCo) has agreed to provide a $200 million second lien senior secured term loan facility to Savanna Energy Services Corp (TSX: SVY), a Calgary-based contract drilling and oilfield services company operating in North America and Australia. AIMCo also agreed to provide a private placement that will generate gross proceeds of about $18.8 million. The funds raised by the company will be used in part to reduce indebtedness. In a separate release http://www.aimco.alberta.ca/DesktopModules/AIMCoNews/Documents/AIMCo%20Savanna%20Energy%20Services%20Announcement%20November%202016.pdf AIMCo CEO Kevin Uebelein said the deal will give Savanna the "flexibility to weather this current market downturn" and allow it to "position for future growth."
- BDC Capital unveils $135 mln fund to help fill yawning gap in cleantech investing
BDC Capital launched a second cleantech fund to support Canadian startups that are feeling the continuing effects of venture capital’s boom-and-bust experience in the fledging sector. The investment arm of BDC unveiled ICE Venture Fund II this week. Capitalized at $135 million, the fund aims to fill a key market gap by investing in 15 to 20 cleantech and energy-tech companies, especially in areas where Canada has a comparative advantage, such as resource efficiency.
Genesys, BDC invest in Profound Medical's $17.4 mln offeringCanadian venture capital firms Genesys Capital and BDC Capital have acquired additional common shares in Profound Medical Corp (TSX-V: PRN), a Toronto medical device company focused on treatments for prostate cancer. The investments were made as part of Profound's $17.4 million bought deal offering, announced https://www.globenewswire.com/news-release/2016/11/14/889690/0/en/Profound-Medical-Corp-Completes-Previously-Announced-17-4-Million-Bought-Deal-Offering-of-Common-Shares.html earlier this week. Genesys invested via its latest fund, Genesys Ventures III, which raised $90 million in an initial close /canada/2016/8/genesys-ventures-iii-raises-most-of-125-mln-target-from-harbourvest-other-lps/ in August. It now owns about 21.4 percent of the company's total shares. BDC announced its investment in a separate release http://www.marketwired.com/press-release/bdc-capital-inc-acquires-common-shares-in-profound-medical-corp-2176515.htm taking a 24.3 percent interest.
Procurify secures $7 mln in Runa Capital-led Series A roundProcurify, a Vancouver cloud and mobile procure-to-pay software company, has raised $7 million in a Series A financing. U.S. venture capital firm Runa Capital led the round. It was joined by Point Nine Capital, Nexus Venture Partners and the Business Development Bank of Canada (BDC), which contributed to the company's seed financing last year /canada/2015/7/procurify-seeded-with-4-mln-from-vcs-hootsuite-executives/ Founded in 2012, Procurify provides spend management software that helps enterprises to make more informed decisions about expenditure. It plans to use the funds raised to "scale aggressively", in part through new hires. With the Series A, Procurify announced its hire of Angela Baldonero as COO.