Canada

Klass Capital-backed Resolver acquires Wynyard’s product suite

Resolver Inc has acquired the risk management product suite of Wynyard Group Ltd, a security software company based in Auckland, New Zealand. No financial terms were disclosed. The deal took place after Wynyard's placement into voluntary administration. Resolver, a Toronto provider of risk and incident management software, said the acquisition increases it global footprint through additional offices and adds more than 150 customers. Resolver was acquired by Canadian private equity firm Klass Capital last year. In March, Klass invested an additional $4 million in the business.

Vertical farming platform TruLeaf raises $8.5 mln in funding

TruLeaf Sustainable Agriculture Ltd, a Bible Hill, Nova Scotia indoor farming company, has closed an $8.5 million equity financing. Mike Durland, a former Scotiabank executive, led the round and was joined by a group of Canadian investors. With the deal, Durand and Neil Murdoch, a former Connor, Clark and Lunn Financial Group executive, will join the company's board. Founded in 2011, TruLeaf has developed a vertical farming technology system to grow nutrient-rich, pesticide-free produce. It will use the funds raised to expand its product offerings and enter new markets. TruLeaf is also backed by Innovacorp.

Dentons' Nextlaw Labs invests in legal tech startup Beagle

Beagle Inc has secured an undisclosed investment from Nextlaw Labs, a legal technology venture development firm launched by law firm Dentons. Based in Kitchener, Beagle has developed technology that utilizes artificial intelligence to read contracts, highlight key information and provide understanding. Dan Jansen, CEO of Nextlaw Labs, said his firm invested to "transpose Beagle's self-service contract review model to fit within a big law client environment like Dentons." Founded in 2013 by Cian O'Sullivan, Beagle is Nextlaw Labs' second Canadian deal.

Fintech startup Symend seeded with $1 mln by angel investors

Calgary financial technology startup Symend Inc has raised $1 million in a seed-stage financing. The round's backers included the company's founding partners as well as several undisclosed angel investors. Launched this year by CEO Hanif Joshaghani and CMO Tiffany Kaminsky, Symend is developing software that combines automation, predictive analytics, and expanded treatments to reduce debt delinquency and promote transparency in the collection process. It plans to use the funds raised to build out the prototype and launch a pilot platform in the first half of 2017.

Fitbit buys smartwatch maker Pebble's software assets: Reuters

Wearable device maker Fitbit Inc said it had bought smartwatch maker Pebble Technology's software and intellectual property as it looks to strengthen its position in the wearables market, Reuters reported. The financial terms of the deal were not disclosed, although Bloomberg had earlier reported that it was valued at less than US$40 million. Palo Alto, California's Pebble was launched in 2008 by Canadian entrepreneur Eric Migicovsky, a University of Waterloo engineering graduate. The company's investors included U.S. venture capital firm CRV .

Tandem Expansion-backed Delta-Q acquired by Italy's Zapi

Delta-Q Technologies Corp, a Vancouver provider of battery charging solutions for electric vehicles and industrial machines, has been bought by Italy's Zapi SpA. No financial terms were released for the acquisition, which included shares held by Canadian growth equity firm Tandem Expansion Fund. Zapi, a specialist in motion control for battery and hybrid-powered vehicles, said it will support Delta-Q's growth plans under the existing brand name. Delta-Q, which is led by Co-Founder and CEO Ken Fielding, has been backed by Tandem since 2010. In that year, Tandem invested $17 million in the company.

Space provider Breather nets $53 mln in Menlo-led Series C round

Breather, a Canadian provider of on-demand meeting rooms and workspaces, has raised about $53 million (US$40 million) in a Series C financing, bringing its total funding so far to nearly $100 million (US$73 million). The round was led by U.S. venture capital firm Menlo Ventures and joined by existing backers Valar Ventures, RRE Ventures, Slow Ventures and Real Ventures. Founded by CEO Julien Smith and CCO Caterina Rizzi in 2012, Breather operates a network of more than 300 spaces across 10 global markets, including New York, San Francisco and London. The Montréal company reports tripling its footprint this year and plans to continue its expansion into new markets in 2017.

Math education platform Knowledgehook raises $1.25 mln in VC

Knowledgehook Inc, a Waterloo education technology startup, has secured $1.25 million in a first-time financing. The round was led by Sayan Navaratnam of Aadya Capital and CEO of Connex Telecommunications Inc. He was joined by Steve Case, co-founder of AOL Inc, and John Abele, co-founder of Boston Scientific Corp. Knowledgehook was founded in 2014 to provide mathematics software that analyzes the performance of students and offers alternative teaching solutions to educators. Led by Co-Founder and CEO Travis Ratnam, the company plans to use the funds raised to support its expansion into global markets.

Canada's competitiveness risked by cleantech funding gap: study

A study released by Cycle Capital Management, Sustainable Development Technology Canada and Écotech Québec found that Canada lags competitors in the strength of its clean technology investment chain. Forging a Cleaner and More Innovative Economy in Canada, directed by Gilles Duruflé and Louis Carbonneau, found that while Canada is a cleantech research leader, it has failed to compete in commercialization and providing adequate venture capital and debt financing. The study's sponsors urged action to make Canada's cleantech sector more competitive on a global scale.

Wellington invests $10 mln in e-mail delivery service SparkPost

Canadian specialty finance firm Wellington Financial has invested US$10 million in SparkPost, a U.S. e-mail infrastructure provider. Founded in 2014, San Francisco-based SparkPost provides a cloud e-mail delivery service to large social networks and other customers that send more than 3 trillion messages per year. SparkPost is backed by several U.S. investors, including LLR Equity Partners and NewSpring Capital. It plans to use the latest funds raised to support continued growth. Wellington is currently investing from Wellington Financial Fund V, which raised $300 million in 2015.