Private Equity
Smart Skin Technologies, a Fredericton-based developer of a pressure-sensitive skin technology, has raised $3.1 million in financing. The lead investor was Schott AG, a German maker of glass and glass-ceramics. It was joined by New Brunswick Innovation Foundation (NBIF), an existing investor. Founded in 2011, Smart Skin's pressure-sensing container devices and analytics are used by brands in beverage, food production and pharmaceutical industries. CEO Evan Justason said the funds raised will support platform development and market growth. In 2014, Smart Skin closed a $3.9 million Series A backed by Build Ventures, East Valley Ventures, GrowthWorks Atlantic Venture Fund, NBIF and Rho Canada Ventures.
2 min read · 01 November 2018
Validere Technologies, a Calgary-based oil and gas internet-of-things and artificial intelligence platform, has raised $7 million in a seed-stage financing. The round was led by Sallyport Investments, a U.S. energy investment firm. It was joined by Y Combinator, Real Ventures, Moment Ventures and ZhenFund. Founded in 2015 by Nouman Ahmad, Joanna Aizenberg and Ian Burgess, Validere's technology helps midstream and upstream companies in the oil and gas sector to optimize blending, logistics and trading decisions. Validere will use the seed round's proceeds to fuel its U.S. expansion and further enhance its platform.
3 min read · 31 October 2018
BDC Capital said its co-investments team has deployed $38.1 million to Canadian technology financings over the past 18 months. The team, set up to increase late-stage deal capitalization alongside other funds, backed seven financings in this period. Examples include the latest rounds of Ecobee, a Toronto-based smart Wi-Fi thermostat maker, Element AI, a Montréal-based artificial-intelligence solutions company, and Miovision, a Kitchener, Ontario-based smart-traffic technology provider. BDC's co-investments team, led by Managing Partner Dominique Bélanger, works with more than 70 venture capital fund managers.
3 min read · 30 October 2018
Toronto-based digital sports platform theScore Inc (TSX-V: SCR) has launched a private placement offering intended to generate $8.5 million in proceeds. Relay Ventures, a Canadian mobile venture capital firm that has backed theScore since 2013, will invest in the offering. The family of John Levy, the company's founder and CEO, will also invest. The proceeds will be used to "capitalize on the introduction of legalized sports betting in the United States," Levy said. Formerly part of Score Media Inc, theScore's flagship mobile sports news and data app, theScore, serves millions of fans on a monthly basis.
3 min read · 30 October 2018
Toronto-based digital healthcare software provider Think Research has raised more than $25 million in its latest financing. The round was backed by new and existing investors. They include Fidelity Investments Canada ULC, Kayne Partners, Canaccord Genuity Group Inc and National Bank of Canada. Founded in 2006 by President Chris O’Connor, Think Research taps clinical evidence and healthcare algorithms to create software that supports clinical decision-making in about 1,200 facilities in North America and Europe. Led by CEO Sachin Aggarwal, Think Research will use the round's proceeds for enhancing its product line, advancing machine-learning capabilities and expanding into new markets.
5 min read · 30 October 2018
Portag3 Ventures, the financial technology firm of Canadian holding company Power Corp, has secured $198 million in the initial close of its second fund. Portag3 Ventures II LP, which is targeted to raise more than $300 million, was backed in the first close by Power affiliates and third-party investors. The latter include National Bank of Canada, Intact Financial Corp, Guardian Capital Group, Equitable Bank, La Capitale and SSQ Insurance. Fund II will maintain Portag3's strategy of investing in early-stage companies and funds in the global financial technology sector. Since its launch in 2016, the firm has made more than 30 investments. Portag3 is led by President and Managing Partner Adam Felesky.
3 min read · 30 October 2018
General Fusion, a Vancouver-based fusion energy technology company, has raised $49.3 million from Ottawa's Strategic Innovation Fund. The funds raised will support the company's development of a large-scale prototype plant to demonstrate a practical approach to commercializing electricity from fusion power. Founded in 2002 by CSO Michel Laberge, General Fusion is backed by BDC Capital, Bezos Expeditions, Braemar Energy Ventures, Cenovus Energy, Chrysalix Venture Capital, Entrepreneurs Fund, Khazanah Nasional Berhad, SET Ventures and other investors.
5 min read · 29 October 2018
Caisse de dépôt et placement du Québec (CDPQ) has launched Cheffes de file, an initiative intended to help grow women-led companies in Québec. Cheffes de file will operate as a collaboration platform, bringing women entrepreneurs together to share best practices. Additionally, participants will be provided with value-adding resources and information, as well as access to local and global networks of coaches and experts. Cheffes de file will include about 50 women who are decision-makers and shareholders of Québec companies with sales ranging from $5 million to $20 million.
3 min read · 29 October 2018
Taloflow, a Vancouver-based cloud infrastructure management platform, has raised $1.1 million in a pre-seed financing. The round was led by Victory Square Technologies. It was joined by Plug and Play Ventures, David Tedman, co-founder of Hootsuite, Ross Wightman, founding engineer of Avigilon, and Aly Madhavji, founder of Blockchain Founders Fund. Launched in 2017, Taloflow’s software-as-a-service offering helps enterprises improve cloud infrastructure performance and reduce costs. Led by CEO Louis-Victor Jadavji, Taloflow said it was recently accepted into the first batch of the Plug and Play Enterprise 2.0 Startup Accelerator program in Silicon Valley.
4 min read · 29 October 2018
Vancouver-based biotechnology company Sitka Biopharma has raised $1.9 million from Canadian life sciences venture capital firm Quark Venture and China’s GF Securities Co Ltd. Sitka is developing a nanoparticle platform to increase absorption of drugs in difficult-to-penetrate tissues. It will use the funds raised to complete work in advance of the initial Phase 1 clinical trials of STK-01, a lead product for treating bladder cancer. Founded in 2013 and led by President and CSO Michael Parr, Sitka is a spin off of The Centre for Drug Research and Development and University of British Columbia. It raised seed funding from Quark in 2016.
4 min read · 25 October 2018
