Canada

Osprey Informatics nabs $3.75 mln in Shell and Evok-led round

Osprey Informatics, a Calgary-based provider of intelligent visual monitoring solutions for industrial operations, has raised $3.75 million in financing. The round was led by Shell Ventures, the investment arm of Royal Dutch Shell plc, and Evok Innovations, a partnership of BC Cleantech CEO Alliance, Cenovus Energy Inc and Suncor Energy Inc. They were joined by InterGen Capital and existing investors. Founded in 2011, Osprey's technology is used by more than 30 North American energy companies to manage field operations, assets and facilities. The funds raised will be used for sales growth and to market new artificial intelligence-enabled solutions.

SPUD.ca secures $11 mln to advance Food-X delivery platform

Vancouver-based grocery e-commerce company Sustainable Produce Urban Delivery Inc (SPUD.ca) has raised $11 million in a pre-initial public offering financing. The deal was led by CIC Capital Ventures, an investment arm of French private equity firm CM-CIC Investissement. It was joined by existing investors, including Walter Capital Partners, which backed SPUD.ca last year. The funds raised will be used to advance Food-X Urban Delivery Inc, an online grocery platform that allows retailers to access technology, warehousing, food preparation and delivery services. Food-X plans to open locations across Canada through 2019 and beyond. SPUD.ca and Food-X are led by CEO Peter van Stolk.

U.S.-Israeli analytics startup Chorus.ai raises $33 mln: Reuters

Chorus.ai, a U.S.-Israeli provider of analytics for sales teams, has raised US$33 million in a Series B funding round led by Canadian growth equity firm Georgian Partners, Reuters reported. Returning investors Redpoint Ventures and Emergence Capital also participated in the round, bringing the total raised to date to US$55 million. Georgian Managing Partner Simon Chong will join the board. The funds raised will be used to accelerate customer acquisition and continue product innovation. Chorus.ai CEO Roy Raanani said his company’s technology provides visibility into video conferencing platforms and phone calls to understand how top performers sell and coach the rest of the team.

NACO chief executive Yuri Navarro to step down

Yuri Navarro, CEO and executive director of the National Angel Capital Organization (NACO), is leaving his role in early 2019. Navarro, who joined NACO in 2012, will pursue a new career in the innovation ecosystem. Under Navarro's leadership, NACO said it grew and diversified membership, became a more Canada-wide organization, and added to angel education and best practice programs. Today, NACO represents more than 40 networks consisting of over 3,000 angel investors. NACO said its board has assembled a task force to search for a new CEO.

RootSecure acquired by venture-backed Arctic Wolf

Arctic Wolf Networks has acquired RootSecure Corp, a Kitchener, Ontario-based advanced cybersecurity risk assessment startup. No financial terms were released. Founded last year and led by CEO James Mignacca, RootSecure quantifies cyber and data risk, providing information technology and security teams with real-time, actionable insight. Sunnyvale, California's Arctic Wolf said the acquisition enhances its security-operations-center-as-a-service offerings. Earlier this year, Arctic Wolf raised US$45 million in Series C financing led by Future Fund.

Black Diamond to set up shop in Toronto with $20 mln round

Black Diamond Therapeutics, a Stony Brook, New York-based cancer precision medicine platform, has emerged from stealth with a US$20 million Series A financing. The round was backed by U.S. life sciences venture capital firm Versant Ventures. The company will use a share of the proceeds to set up operations in Toronto, giving it access to the city’s pool of computing talent. Black Diamond, the first startup launched out of Versant's Swiss discovery engine, is developing precision medicines directed against allosteric mutant oncogenes.

CPPIB to increase bets in China despite political tensions: Reuters

Canada Pension Plan Investment Board (CPPIB) plans to continue deploying capital in China, despite political tensions between the two nations, CEO Mark Machin told Reuters. Following the arrest of Meng Wanzhou, Huawei Technologies Co Ltd’s CFO on December 1, China warned Canada it would face consequences if it did not immediately release her. “If we cut aside all of the rhetoric, I think China will take a mature, cool-headed attitude toward pragmatic negotiations, so we won’t get too much wild action,” Machin said. CPPIB has 8 percent of its funds invested in China and has previously indicated it plans to increase that significantly in the next few years.

Accenture to buy assets of VC-backed fintech company Zafin

Ireland's Accenture (NYSE: ACN) has agreed to acquire select professional services assets of Zafin, a Toronto-based provider of banking solutions software. Terms weren't released for the deal, which is expected to close in Q1 2019. Founded in 2002 by CEO Al Karim Somji, Zafin's technology supports pricing, product and customer strategies for more than 35 global banks. Accenture said the transaction will enhance its capabilities in financial innovation and modernization. Accenture will also serve as a preferred integrator of Zafin's platform as part of a joint go-to-market strategy. Zafin's investors include Beedie Capital, Kayne Partners and Vistara Capital Partners.

Ontario Teachers'-backed Stem acquires Constant Power

Stem Inc has acquired most of the assets of Constant Power Inc, a Toronto-based developer, integrator and operator of distributed energy resources with an energy storage-as-a-service solution. No financial terms were disclosed. Stem, a Millbrae, California-based artificial intelligence-enabled energy storage provider, said it has also appointed Brad Marks as country manager for Canada. The announcements come several months after the company secured $200 million from Ontario Teachers’ Pension Plan. The investment by Ontario Teachers' was intended to support Stem's acquisition of Ontario energy storage projects and delivery of its systems.

BCF Ventures grows pool to $12 mln, backs six tech startups

BCF Ventures, a Montréal-based pre-seed and seed-stage venture capital firm, has increased the potential size of its fund to $12 million. Initially capitalized at $5 million by BCF Business Law partners, the fund raised additional commitments from family offices and accredited investors. Led by CEO and Partner Sergio Escobar, BCF and its co-investors provide financing to cloud and software-as-a-service companies leveraging artificial intelligence, big data, analytics and security, primarily in North America. To date, BCF has invested in six companies, including Canada's Bridgr, CareTeam and FleetOps.