Private Equity
Titan Medical Inc (TSX: TMD), a Canadian robotic surgical technology company, has agreed to receive about $21 million (US$16 million) from Shanghai Jugu Equity Investment Fund, a Chinese private equity and venture capital firm. The investment, which will made in two tranches, will support Titan in the on-going development and commercialization of its SPORT system, a surgeon-controlled robotic platform designed for use in minimally invasive surgery. The Toronto-based company plans to introduce the system to markets in Europe and the United States over 2016-2017.
4 min read · 01 June 2016
Nudge Software Inc, a Toronto-based startup launched by Eloqua Founders Steve Woods and Paul Teshima, has obtained about $6.5 million (US$5 million) in seed funding. OMERS Ventures led the round with participation from existing individual investors, including Jill Rowley, Neal Dempsey and Brad Woloson. Established in 2014, Nudge provides a modern sales platform that leverages relationships to help business-to-business sales teams build stronger relationships with their best customers. It plans to use the funds raised to accelerate product development. Marketing automation software company Eloqua, which was also venture-backed, was acquired by Oracle for US$871 million in 2012.
4 min read · 01 June 2016
Inocucor Technologies Inc, a developer of sustainable microbial crop accelerators, has raised an additional $6 million for its Series A funding. The total amount raised was not disclosed. Cycle Capital Management and Desjardins Innovatech, previously identified as the round's Canadian investors, were joined by U.S.-based Red Metal Capital and Closed Loop Capital, as well as a number of board members. Montréal-based Inocucor said the funds raised will back the commercial scale-up of its bio-stimulant product, Garden Solution, which is designed to improve crop yields. Founded in 2007, the company said it is planning for a follow-on round to open an office in the United States.
3 min read · 01 June 2016
Inocucor Technologies Inc, a developer of sustainable microbial crop accelerators, has raised an additional $6 million for its Series A funding. The total amount raised was not disclosed. Cycle Capital Management and Desjardins Innovatech, previously identified as the round's Canadian investors, were joined by U.S.-based Red Metal Capital and Closed Loop Capital, as well as a number of board members. Montréal-based Inocucor said the funds raised will back the commercial scale-up of its bio-stimulant product, Garden Solution, which is designed to improve crop yields. Founded in 2007, the company said it is planning for a follow-on round to open an office in the United States.
3 min read · 01 June 2016
Silicon Valley creative computing platform Tynker has secured US$7.1 million in a Series A financing. The lead investors in the round included Krishna Bharat of Google News, Cervin Ventures, Felicis Ventures, New Ground Ventures, Reach Capital and Relay Ventures, a Canadian mobile venture capital firm. Founded in 2012, Tynker has designed technology to teach children programming skills and computational thinking. The Mountain View, Calif.-based company plans to use the funds raised for product development and further expansion into schools and districts outside of the United States and Canada.
4 min read · 01 June 2016
Versature Corp, a Canadian phone solutions provider, has secured $1.15 million in funding. BDC Capital's Growth & Transition Capital provided $750,000 in subordinated debt, enabling an additional $400,000 in credit from the Royal Bank of Canada. Founded in 2003, Ottawa-based Versature provides cloud-based voice-over-Internet-protocol phone and communication solutions to businesses across Canada. It said the funds raised will support the company's continued growth by helping to expand its marketing and sales operations and target new strategic markets.
4 min read · 31 May 2016
Versature Corp, a Canadian phone solutions provider, has secured $1.15 million in funding. BDC Capital's Growth & Transition Capital provided $750,000 in subordinated debt, enabling an additional $400,000 in credit from the Royal Bank of Canada. Founded in 2003, Ottawa-based Versature provides cloud-based voice-over-Internet-protocol phone and communication solutions to businesses across Canada. It said the funds raised will support the company's continued growth by helping to expand its marketing and sales operations and target new strategic markets.
4 min read · 31 May 2016
Chrysalix Venture Capital is raising a US$111.5 million robotics fund in partnership with RoboValley, a centre for robotics commercialization located at Delft University of Technology in the Netherlands, according to a press release. The RoboValley Fund will invest in North America, Europe and potentially Asia with seed-stage and Series A rounds, said Mike Sherman, a managing partner at Vancouver-based Chrysalix. It will look at component technology, intelligent software, communications technology and power technology.
1 min read · 31 May 2016
Chrysalix Venture Capital is raising a US$111.5 million robotics fund in partnership with RoboValley, a centre for robotics commercialization located at Delft University of Technology in the Netherlands, according to a press release. The RoboValley Fund will invest in North America, Europe and potentially Asia with seed-stage and Series A rounds, said Mike Sherman, a managing partner at Vancouver-based Chrysalix. It will look at component technology, intelligent software, communications technology and power technology.
1 min read · 31 May 2016
EnerTech Capital has appointed Edward Jackson to the firm's advisory board. Jackson has served as a senior capital markets executive for about 30 years. Prior to his retirement at the end of 2015, he was managing director and co-head, investment funds, at RBC Capital Markets. EnerTech, an investor in energy and power sectors, has offices in Calgary, Toronto, Montréal and in the United States.
3 min read · 30 May 2016
