Private Equity
Calgary-based Pason Systems Inc, a provider of specialized data management systems for drilling rigs, has agreed to acquire a minority stake in Intelligent Wellhead Systems Inc for $25 million. In addition to Pason's investment, Werklund Growth Fund LP has invested $10 million in IWS. Credit Suisse acted as financial adviser to WFO. Headquartered in Calgary, IWS is an oil and gas technology and service company.
4 min read · 03 October 2019
Montreal-based Korbit Technologies, a education technology startup, has secured over US$2 million in seed funding. Khosla Ventures was the lead investor. Korbit is a spin-off from the Montreal-based Mila lab led by professor Yoshua Bengio.
3 min read · 03 October 2019
AmacaThera, a Toronto-based developer of injectable hydrogel technology for medical applications, has secured US$3.6 million in seed funding. The investors were Sprout BioVentures/ Viva Biotech, Grey Sky Venture Partners and Toronto-based Lumira Ventures. AmacaThera is currently a resident company at the Johnson & Johnson Innovation – JLABS incubator.
1 min read · 03 October 2019
Toronto-based MindMed, a neuro-pharmaceutical company for psychedelic-inspired medicines, has secured US$6.2 million in funding. The investors included Bruce Linton, ex-CEO and founder of cannabis company Canopy Growth, Canadian businessman and "Shark Tank" co-host Kevin O'Leary, Compass Pathways and James Bailey, a partner at Bail Capital. In addition to the funding, Linton will join MindMed's board.
3 min read · 02 October 2019
Toronto-based AudienceView, a provider of e-commerce software for events and entertainment organizations, has acquired New York-based UniversityTickets, a ticketing and event management solution for higher education campuses and college athletics. No financial terms were disclosed. AudienceView is backed by Rubicon Technology Partners, a U.S. enterprise private equity firm.
3 min read · 02 October 2019
San Francisco and Toronto-based Naborly, a credit bureau for the rental industry, has secured US$7.5 million in seed funding. First Round Capital‘s Bill Trenchard led the round with participation from Liquid 2, Village Global VC, Assurant Insurance and Third Prime.
1 min read · 02 October 2019
Ontario Teachers' Pension Plan has teamed up with BCG Digital Ventures, the corporate venture, investment and incubation arm of Boston Consulting Group, to launch Koru, a Toronto-based venture incubator. Koru is focused on new digital businesses. Bryan Marcovici, a venture architect director at BCG Digital Ventures, will join Koru as the incubator's general manager and managing partner.
3 min read · 02 October 2019
Canopy Rivers, the venture capital arm of Canadian cannabis producer Canopy Growth Corp, has invested US$10 million in TerrAscend Canada Inc, a subsidiary of its portfolio company TerrAscend Corp. TerrAscend is a Toronto-based cannabis business. Canopy Rivers, along with Canopy Growth Corporation, first invested in TerrAscend in November 2017.
1 min read · 02 October 2019
MESH/diversity, a Moncton-based inclusion-focused software company, has secured over $950,000 in seed funding. The investors included New Brunswick Innovation Foundation, which provided $250,000 to that round. Founded in 2013, MESH/diversity is led by CEO Mike Wright.
2 min read · 01 October 2019
Montreal-based Chronometriq, a provider of access-to-care and patient engagement tools, has secured more than C$20 million in Series B funding. Full In Partners led the round. The capital will be used to “help further Chronometriq’s leadership position in Canada and give them significant opening traction in the U.S.”
1 min read · 01 October 2019
