Private Equity
Inocucor Corp has acquired ATP Nutrition, a supplier of science-based plant nutrients located in Oak Bluff, Manitoba. No financial terms were disclosed. Inocucor, a Canadian developer and producer of biological crop inputs, said the deal will help spawn a suite of all-in-one crop treatments to maximize yields in broadacre crops. It will also support profitability in the near term. Founded in 2007 in Montréal, Inocucor earlier this year closed a $50.9 million Series B financing backed by new and existing investors, including TPG ART and Pontifax AgTech. In May, the company will occupy its new U.S. headquarters and commercialization office in Centennial, Colorado.
4 min read · 17 April 2018
XpertSea, a Québec City-based developer of aquaculture technologies, has secured $10 million in a Series A financing. The round was led by Obvious Ventures and Aqua-Spark, as well as Real Ventures, which contributed to the company's seed funding. Launched in 2012, XpertSea uses artificial intelligence, computer vision and machine learning to help hatcheries, farms and research centres track and manage aquatic populations with greater speed, accuracy and insight. Led by CEO Valérie Robitaille, the company plans to use the proceeds of the Series A to expand its technology offerings and further build its team. XpertSea's other backers include edō Capital.
4 min read · 17 April 2018
Vancouver-based digital finance company Mogo Finance Technology Inc (TSX: MOGO) has received approval from the Nasdaq Capital Market to list its common shares on the exchange. The shares are expected to begin trading on April 18 under the symbol "MOGO". Mogo President and CFO Greg Feller said the listing will give his company greater visibility with U.S. investors, improved liquidity, and a more diversified shareholder base. Mogo, which went public in Canada in 2015, raised an additional $40 million facility last September from longtime backer Fortress Investment Group.
3 min read · 17 April 2018
Vancouver-based financial technology startup Instant Financial has raised $14.3 million (US$11.4 million) in a Series A financing. The round, which brings total funding so far to $19.4 million, was led by U.S. venture capital firm TTV Capital. It was joined by ITC Partners Fund, Kinetic Ventures and Real Ventures, all existing investors. Founded in 2015 by CEO Steve Barha, CTO Kevin Falk and CRO Ryan Volberg, Instant helps more than 275,000 hourly wage employees access their pay daily while providing employers with savings. The funds raised will be used for customer acquisition, product innovation and growth of Instant’s market penetration.
3 min read · 17 April 2018
U.S. family office Leonite Capital said it acquired the assets of Axios Mobile Assets Corp in a receivership sale late last year. No financial terms were disclosed. Axios, a Mississauga, Ontario-based smart supply chain logistics provider, entered receivership in early 2017. Leonite CIO Avi Geller, Axios' executive chairman, said his firm is bringing a "new and improved" company, restructured into three new operating groups, "back to the market." Axios was formerly backed by Canadian venture capital firm Relay Ventures and other investors. Relay led the company's $14 million financing in 2015.
4 min read · 16 April 2018
Ni2 Inc, a Montréal-based provider of services and operations management software, has raised $6 million in new financing. Desjardins Capital was the sole investor. Founded in 2003, Ni2 has developed a software platform designed to help data centre, network and communications service providers to operate better and grow faster as they prepare for new technologies. The funds raised will be used to accelerate commercial operations and grow the company's presence in North America, Europe, and Asia, and to enhance service and development teams in Montréal and Belgium. Ni2 is led by CEO Joseph Hatchuel.
3 min read · 16 April 2018
AmorChem Group said Fondaction CSN, a Québec private equity and venture capital firm, has committed an undisclosed amount to the firm's second seed-stage biotechnology fund. AmorChem II Fund LP last year raised an initial $44.2 million from several investors, including the Québec government, Fonds de solidarité FTQ and Merck. Montréal-based AmorChem commercializes life sciences projects originating from Québec universities and research centres. In March, it backed the $2.6 million financing of biotechnology startup SemaThera Inc.
3 min read · 13 April 2018
Vancouver's Enterra Feed Corp, one of an emerging crop of insect growers, processes bugs into protein-rich food for fish, poultry - even pets, Reuters reported. The company is part of a small but growing insect farming sector that has captured attention and investments from some heavyweights in the US$400 billion-a-year animal feed business, including U.S. agricultural powerhouse Cargill Inc. Enterra's backers include Calgary-based venture capital firm Avrio Capital and U.K.-based Wheat Sheaf.
6 min read · 13 April 2018
Canadian food company McCain Foods Ltd has made an undisclosed strategic investment in TruLeaf Sustainable Agriculture Ltd, a Bedford, Nova Scotia-based agricultural technology company. Founded in 2011 by President and CEO Gregg Curwin, TruLeaf has developed an indoor vertical farming system to grow quality leafy green produce. Curwin said the partnership with McCain will help accelerate his company's farm development and expansion into global markets. In 2016, TruLeaf raised an $8.5 million financing led by former Scotiabank executive Mike Durland. It is also backed by Innovacorp.
3 min read · 13 April 2018
Genesis Robotics, the robotics affiliate of Langley, British Columbia-based Genesis Advanced Technology (GAT), has received a strategic, controlling investment from a unit of U.S.-based Koch Industries Inc. No financial terms were disclosed. The deal will result in the formation of a new entity, Genesis Robotics and Motion Technologies, focused on the commercialization of electric motor and actuation technologies, including LiveDrive, which will advance robotics designs and platforms. GAT was founded in 2009 by President Michael Gibney and Technical Director James Klassen. Genesis Robotics has previously reported raising funding from angel investors.
3 min read · 12 April 2018
