Canada

Reonomy pulls in $60 mln Series D

Stradigi AI nets Series A

Montreal-based Stradigi AI, an artificial intelligence company, has secured C$53 million (US$40.3 million) in Series A funding. The Fonds de solidarité FTQ and Investissement Québec led the round with participation from other investors that included Holdun Family Office, Segovia Capital Ltd and Cossette Inc.

HBC closes sale of Lord + Taylor to VC-backed Le Tote

Canadian retailer Hudson’s Bay Co has closed its previously announced sale of department store chain Lord + Taylor to Le Tote Inc, a San Francisco-based fashion rental subscription service. The purchase price was C$99.5 million (US$75 million). As part of the deal, Le Tote has acquired the Lord + Taylor brand and related intellectual property as well as the operations of 38 stores, Lord + Taylor digital channels and the associated inventory. Le Tote's backers include Andreessen Horowitz, Azure Capital Partners, GV, Lerer Hippeau Ventures, Sway Ventures and Y Combinator.

ITPS snags $3.5 mln from BDC Capital

London, Ontario-based The International Test Pilots School has secured $3.5 million in funding. The investor was BDC Capital's Growth & Transition Capital division. ITPS provides test flight training to pilots and engineers of approximately ten countries.

AI chip startup Untether AI secures Series A

Toronto-based artificial intelligence chip startup Untether AI has raised US$20 million in Series A funding. The investors include Toronto-based Radical Ventures and Intel Capital. In addition to the funding, Arun Iyengar has been named CEO of Untether AI while Tomi Poutanen, a partner at Radical Ventures, is joining Untether AI's board.

VC invested in Canadian tech companies reaches $5.6 bln YTD 2019

Venture capital investment in Canadian technology companies increased its pace in Q3 2019, with $2.8 billion deployed across 151 rounds, bringing total investment for the first nine months of the year to $5.6 billion. This marked the most active first three quarters in a year in dollar terms on record, according to final data released by Refinitiv. The number of financings in the third quarter was also up 34 percent year over year, while volumes in the first nine months rose 11 percent. Late-stage companies accounted for 29 percent of all rounds at the end of September, the third largest share ever.

Quartic.ai garners Series A

Toronto and San Jose, California-based Quartic.ai, a full-stack industrial AI and IIoT software provider, has raised US$5 million in Series A financing. WRVI Capital led the round. The capital infusion will be used by Quartic.ai to accelerate deployment of its Industry 4.0 technology and serve a larger customer base.

Coveo nabs $227 mln in OMERS-led round

Coveo said Nov. 6 that it raised $227 million in funding led by OMERS Growth Equity. Existing investors participated as well as other financial institutions, including Evergreen Coast Capital, Fonds de solidarité FTQ and IQ. Québec City-based Coveo uses artificial intelligence and intelligent search technologies to personalize digital experiences for customers, partners, dealers and employees.

Coveo raises C$227 mln in Series F financing

Coveo said Nov. 6 that it raised C$227 million ($172 million) in funding led by OMERS Growth Equity. Existing investors participated as well as other financial institutions, including Evergreen Coast Capital, Fonds de solidarité FTQ and IQ. Québec City-based Coveo uses artificial intelligence and intelligent search technologies to personalize digital experiences for customers, partners, dealers and employees.

Amplitude unveils $200 mln fund

Amplitude Venture Capital has launched a $200 million fund. So far, the fund has raised 50 percent of its target. The fund will invest in Canadian healthcare companies. Amplitude was co-created with cornerstone investor BDC Capital.