Canada

iGan appoints new CFO/COO

Canadian healthcare technology venture firm iGan Partners has named Mark Bhattacharya as its new chief financial officer and chief operating officer. Previously, he worked at Morneau Shepell Asset and Risk Management Ltd where he was head of operations and chief compliance officer. Last year, iGan closed its debut fund at $100 million.

Toronto AI SaaS startup ODAIA fetches $1.6 mln

Toronto-based ODAIA, an AI SaaS startup, has secured $1.6 million in funding. Panache Ventures and StandUp Ventures led the round with participation from BDC Capital’s Women in Technology Venture Fund, Inovia Capital and MaRS IAF. This new group of investors joins pre-seed investors that include Toronto Innovation Acceleration Partners, University of Toronto’s UTEST, N49P, Ontario Centres of Excellence and Amar Varma, co-founder of Autonomic.ai (acquired by Ford). The capital infusion will be used to make key technical hires, support early customers and prepare for the public launch of ODAIA’s AI SaaS platform.

Hydrostor racks up $49 mln

Toronto and Australia-based Hydrostor, a developer of advanced compressed air energy storage projects, has secured $49 million in growth financing. The investors included Elemental Energy, Canoe Financial, ArcTern Ventures, MaRS Catalyst Fund and Lorem Partners. RBC Capital Markets advised Hydrostor on the transaction. Also, Meridiam, a global developer, asset and fund manager specializing in sustainable infrastructure and energy transition projects, has formed a strategic partnership with Hydrostor to support the origination and development of Hydrostor projects. In conjunction with this partnership, Elisabeth Hivon, a partner at Meridiam, has joined Hydrostor’s board of directors.

Daisy Intelligence inks Series A

Vaughan, Ontario-based Daisy Intelligence, an AI-powered platform for retail and insurance, has raised $10 million in Series A funding. Framework Venture Partners led the round with participation from Sonae IM, a European-based corporate investor. The capital will be used by Daisy for growth, global expansion, sales and marketing and support for its customer success teams.

Finger Food picks up $3.5 mln

Port Coquitlam, British Columbia-based Finger Food Advanced Technology Group, an enterprise technology solution provider, has secured up to $3.5 million in funding. The investor is Opportunity Calgary Investment Fund. The capital infusion will be used by Finger Food to accelerate the incubation of new digital technologies and develop local tech ecosystems. In addition to the investment, Finger Food will open an advanced technology center in Calgary.

Talent data platform Plum fetches seed funding

Waterloo-based Plum, a talent data platform, has raised $4.2 million in seed funding. Real Ventures led the round. As a result of this investment, Plum has raised a total tally of $6.1 million.

ArcTern Ventures wraps up sophomore fund

Toronto-based ArcTern Ventures, a venture firm that invests in clean tech companies, has closed its second fund at $200 million. The fund's investors include TD Bank Group, Suncor, BDC, The Ivey Foundation and another Canadian pension fund. The anchor investors were OMERS and Equinor, a Norwegian energy company. Last October, ArcTen raised $60 million in the first closing of its second fund, as reported by PE HUB. ArcTern’s Managing Partners Murray McCaig and Tom Rand co-founded ArcTern Ventures in 2012.

Telemedicine platform Maple takes in funding

Toronto-based Maple, a telemedicine platform that connects patients and healthcare providers, has secured $15.5 million in funding. Acton Capital leads the latest funding round with participation from Canadian home health institution SE Health.

OMERS Growth Equity leads Series E round for TouchBistro

TouchBistro has raised $158 million in Series E funding. OMERS Growth Equity led the round with participation from Barclays Bank, RBC Ventures, BMO Capital Partners, OMERS Ventures, JPMorgan Chase, Napier Park Financial Partners, BDC IT Venture Fund and Kensington Capital Partners. The capital infusion will be used for acquisitions, growth, international market expansion, technology advancements and personnel hiring. With offices in Toronto, New York, Chicago, Los Angeles, the UK and Mexico, TouchBistro is an iPad POS for restaurants.

Fintech startup Patchell Brook raises $360k in funding, NBIF invests

Patchell Brook Equity Analytics, a Miramichi, New Brunswick-based provider of valuation analysis technology, has secured $360,000 in financing. New Brunswick Innovation Foundation (NBIF) invested $150,000 in the round. The balance was accounted for by Miramichi Technology Fund, Technology Venture Corp and several angel investors. Founded in 2013 by CEO Brian Donovan, Patchell Brook has developed software, called StockCalc, and other tools that help customers determine the equity valuation of publicly-traded businesses and investment funds. The company will use the round's proceeds for additional product development and growth initiatives.