Private Equity
Polystyvert, a Montréal-based clean technology startup, has raised $11 million in follow-on funding. The round was backed by new investors Quadriam Investments, Energy Foundry and Transition énergétique Québec, as well as existing investors Anges Québec, Anges Québec Capital Fund and Cycle Capital Management. The company also secured an investment from Sustainable Development Technology Canada. Founded in 2011, Polystyvert has developed a low-carbon-footprint process to recycle polystyrene based on a dissolution technology. The latest round follows a $4.9 million financing closed in 2016.
3 min read · 14 June 2018
GoJava, a Toronto-based provider of sustainable coffee services, has secured $500,000 in a growth financing. The round was led by Canadian real estate and venture capital firm Crux Capital Corp. Launched in 2015, GoJava provides a recycling solution for used coffee pods and other waste as well as related services to workplaces. It reports diverting more than one million coffee pods and 80,000 pounds of waste from landfill. The company, led by President Eugene Ace, one of GoJava's co-founders, is currently focused on scaling its presence in Ontario before further expansion into the rest of Canada.
3 min read · 13 June 2018
Canadian Innovation Exchange (CIX) has named Ecobee its 2018 “Innovator of the Year”. Toronto's Ecobee is the developer of a smart Wi-Fi thermostat that has won more than a third of the smart thermostat market and shown over 100 percent year-over-year growth since its founding in 2007. Earlier this year, the company closed a $127 million Series C financing, which brought its total venture capital funding to date to more than $200 million. President and CEO Stuart Lombard will accept the award and tell his company's story as the opening keynote speaker at CIX's Toronto conference on October 22.
4 min read · 13 June 2018
Montréal medical device company SoundBite Medical Solutions Inc has closed a second tranche of its Series A financing. SoundBite raised $5.2 million more from its investors, bringing the round's total to $25 million. The Series A's first tranche, announced in April, was led by Fidelity Investments Canada ULC. Founded in 2015 by Steve Arless, Martin Brouillette, Louis-Philippe Riel and Steven Dion, SoundBite is a developer of shock wave technology to address needs in interventional vascular treatment. It will use the funds raised to further advance clinical and product development programs over the next 30 months.
2 min read · 13 June 2018
Business Development Bank of Canada (BDC) and Export Development Canada (EDC) have launched a two-year program to provide $50 million in new financing to Canadian technology companies engaged in, or planning to engage in, an international business. Companies will be able to access working capital loans of up to $1 million. BDC and EDC will also refer clients to each other to increase capital access and networking opportunities. Federal Innovation Minister Navdeep Bains said the initiative will give technology companies "strong partners to help them scale up and tap into international markets."
4 min read · 13 June 2018
Montréal-based flexible workspace provider Breather has raised $60 million in a follow-on-financing, bringing total funding to about $150 million. The latest round was led by Caisse de dépôt et placement du Québec and Singapore's Temasek. Other investors included Ascendas-Singbridge. Founded in 2013 by CEO Julien Smith and CCO Caterina Rizzi, Breather has scaled its presence in the global workspace rentals sector to 10 cities, including New York City, San Francisco and London. It now operates close to 500 spaces. Breather's other investors include Menlo Ventures, Valar Ventures, RRE Ventures, Slow Ventures and Real Ventures, all of which backed its Series C round in 2016.
3 min read · 12 June 2018
Canada Pension Plan Investment Board (CPPIB) plans to issue an inaugural green bond. The initiative, the first by a pension fund, CPPIB said, will provide additional funding for increasing holdings in renewables and energy-efficient buildings. Any green bonds issued in Canada will be issued on a private placement basis and only to certain qualified accredited investors. CPPIB has over the past year announced plans to invest more than $3 billion in the renewable energy sector.
3 min read · 11 June 2018
U.S. predictive endpoint security platform CounterTack has acquired GoSecure Inc, a Montréal-based cybersecurity managed detection and response provider. No financial terms were disclosed. Founded in 2002 and led by President and Chairman Pascal Fortin, GoSecure has been a CounterTack channel partner. Its acquisition will enhance the Waltham, Massachusetts-based company's enterprise service offerings. Founded in 2011, CounterTack has raised US$92.4 million in venture capital, according to Crunchbase, including last year's Series D financing led by Singtel Innov8 and SAP National Security Services.
4 min read · 11 June 2018
Statflo, a Toronto-based sales acceleration platform, has raised $12 million in a Series A financing, bringing total funding to $16.5 million. Elsewhere Partners led the round and was joined by existing investors Round13 Capital and Globalive Capital, and new investors Generation Ventures, Johannes Gnauck and Marco Schnabl. Elsewhere's Sam Kentor and Generation's Laura Lenz have joined the board as a result. Founded in 2012, Statflo's compliant one-to-one outreach tool allows wireless and technology retail stores, along with their indirect channels, to proactively drive more store traffic. It will use the funds raised to develop IP and pursue growth.
4 min read · 11 June 2018
Luge Capital has launched to invest in early-stage fintech companies with the backing of one of Canada’s largest institutions and the support of one of its top venture firms. Luge today said it raised an initial $75 million for its inaugural fund. It plans to secure the rest of the $100 million target over the next few months. The fund raised capital commitments from five limited partners: Caisse de dépôt et placement du Québec, Desjardins Group, Sun Life Financial, Fonds de Solidarité FTQ and La Capitale.
3 min read · 11 June 2018
