Private Equity
Kepler Communications, a Toronto-based satellite telecommunications company, has secured about $20.8 million (US$16 million) in a Series A financing. U.S. venture capital firm Costanoa Ventures led the round, with participation from DB Digital Ventures, the venture capital arm of Germany's Deutsche Bahn AG. IA Ventures, which led Kepler's seed round in 2016, also invested, as did other existing backers. To date, the company has raised more than $27 million. Founded in 2015 and led by CEO Mina Mitry, Kepler is building a network of nanosatellites to provide broad-based in-space connectivity. It will use the funds raised to grow revenue and launch 15 additional nanosatellites by 2020.
4 min read · 15 October 2018
Auvik Networks has acquired Talaia, a Spanish network traffic analytics solution. No financial terms were released. Based in Waterloo, Auvik is a provider of network management software for managed services providers (MSP). It said the acquisition will help MSP partners overcome network performance issues through more visible traffic flows. Talaia’s technology will be integrated into Auvik’s system as a component called TrafficInsights. Earlier in 2018, Auvik raised $20 million in a Series C financing led by OpenView and joined by Celtic House Venture Partners and Rho Canada Ventures.
3 min read · 15 October 2018
Eigen Innovations, a Fredericton-based internet-of-things solutions provider for manufacturing systems, has raised $3.5 million in its latest financing. The round was led by new investor Globalive Technology. It was joined by BDC Capital’s Women in Technology Venture Fund (WIT), New Brunswick Innovation Foundation, Opportunities New Brunswick and several angel investors. Founded in 2012 and led by CEO Scott Everett, Eigen's software helps manufacturers optimize highly complex and repeatable processes using artificial intelligence-enabled technology. It will use the funds raised to fuel additional growth at home and abroad.
5 min read · 15 October 2018
Tilray Inc (Nasdaq: TLRY), a Nanaimo, British Columbia-based cannabis research and production company, has acquired Alef Biotechnology SpA, Tilray's Chilean import and distribution partner. Alef's outstanding equity was purchased for about $5 million in cash and stock. Tilray said the deal creates a hub to distribute its products throughout Latin America. In July, Tilray raised about US$153 million in an initial public offering. It continues to be majority owned by U.S. cannabis private equity firm Privateer Holdings.
3 min read · 11 October 2018
TIMIA Capital Corp has provided a $2 million investment facility to FormHero Inc, a Toronto-based smart forms platform that helps business organizations automate paperwork and processes. TIMIA, a Canadian specialty finance firm, will deploy an initial $1 million, followed by a further $1 million when certain milestones are met. FormHero CEO Ryan Kimber, who co-founded the company in 2015, said the facility’s proceeds will support the expansion of marketing efforts. TIMIA provides growth capital to technology companies in exchange for revenue-based payments.
3 min read · 11 October 2018
Moz Inc has acquired STAT Search Analytics, a Vancouver-based provider of rank tracking and search-engine-result-page analytics for enterprises and digital agencies. No financial terms were released. Moz, a Seattle, Washington-based search engine optimization technology company, said it will retain and grow STAT's Vancouver team. STAT Founder and CEO Rob Bucci will become vice president of research and development. Moz said the acquisition creates the "most robust organic search solution in the industry.” Moz's U.S. venture capital investors include Foundry Group and Ignition Partners.
3 min read · 11 October 2018
Blue Ant Media has acquired Saloon Media, a Toronto-based television and digital content production company. Terms weren't disclosed for the deal, which will see Saloon's management team join Blue Ant’s global production unit. Blue Ant, a Toronto-based content producer, distributor and channel operator, said the acquisition is a key step in the expansion of its North American business. Led by CEO Michael MacMillan, who co-founded the company in 2011, Blue Ant creates content for factual, factual entertainment, digital series, kids programming and other genres. Its backers include Difference Capital, Gibraltar & Co, Kensington Venture Fund and Relay Ventures.
5 min read · 11 October 2018
Cinchy, a Toronto-based enterprise data collaboration platform, has secured $3 million in a financing round. Blindspot, a Canadian investor in wealth management technology, led the deal. It was joined by ScaleUp Ventures, MaRS Investment Accelerator Fund, Techstars, BDC Capital and other investors. Blindspot Partner Kevin Foley will join the board. Founded in 2014 by CEO Dan DeMers and CTO Karanjot Jaswal, Cinchy's platform enables multiple systems and users to collaborate on data in real-time, without requiring separate application databases. The startup's customers, which include financial institutions, save time and money by avoiding complex integration work.
4 min read · 10 October 2018
Optina Diagnostics Inc, a Montréal-based developer of an eye scan for early detection of Alzheimer's, has raised $4 million in a seed-stage financing. Zoic Capital, a U.S. medical device venture capital firm, led the round. It was joined by Desjardins Capital, DigitalDx Ventures, Pallasite Ventures, Barney Pell, Barney Pell's AngelList Syndicate, Advisors.fund and Hike Ventures. Optina uses artificial intelligence and spectral retinal imaging to detect Alzheimer's disease in order to treat it in patients before irreversible damage occurs. The company, led by CEO David Lapointe, will use the funds raised to advance clinical development and accelerate growth and market readiness.
4 min read · 10 October 2018
Swiss clinical-stage biotechnology company Therachon AG has acquired GLyPharma Therapeutic Inc, a Montréal-based developer of a drug for short bowel syndrome and other rare gastrointestinal diseases. Terms weren't disclosed. With the deal, Therachon acquires the rights to apraglutide, originally discovered by Ferring Pharmaceuticals and licensed to GLyPharma. Since its launch in 2012, GLyPharma has been backed by Canadian life sciences venture capital firm CTI Life Sciences Fund, Ferring and Fonds de solidarité FTQ. In August, Therachon raised a US$60 million financing led by Novo Holdings and joined by multiple other investors.
3 min read · 10 October 2018
