North secures $54 mln in bridge financing from existing VCs: G&M

Kitchener, Ontario-based wearable technology company North has raised about $54 million (US$40 million) in convertible debt financing, according to a report by the Globe and Mail. The money came from the company's existing investors Amazon Alexa Fund, Intel Capital and Fidelity Investments Canada, the report said. Formerly called Thalmic Labs, North in 2018 launched a line of augmented reality eyewear called Focals. The funds raised will support operations prior to a more significant round, potentially earmarked for a new version of the glasses, the report said. Founded in 2012, North's other investors include First Round Capital, Inovia Capital and Spark Capital.