Private Equity
Canadian venture capital firm Campfire Capital recently led the $5 million Series A financing of FIGS, a Los Angeles-based medical apparel company. Founded in 2013, FIGS provides premium technical apparel via an e-commerce platform to the medical scrubs industry. It said funds raised will help increase inventory to meet demand, expand new product categories, and scale its team. FIGS has previously received funding from U.S. investors, including Mohr Davidow Ventures, Irving Place Capital and 500 Startups. Campfire was founded in 2014 with the support of current and former Lululemon executives and other backers to invest in retail technology startups.
3 min read · 11 May 2016
Reno Sub-Systems Inc has received about $18.1 million (US$14 million) in a Series B financing. MKS Instruments Inc (NASDAQ: MKSI), a U.S. provider of instruments, sub-systems and process control solutions, led the round with a US$9.3 million strategic investment. It was joined by Intel Capital, which backed the company's November 2014 round, and an undisclosed strategic investor. Bedford, Nova Scotia-based Reno develops technologies for the semiconductor and advanced microelectronic industries. Bob MacKnight, CEO of Reno, said the funds raised will accelerate the company's time-to-market strategy. Canadian venture capital firm Innovacorp also backs Reno.
3 min read · 10 May 2016
The Accelerate Fund has made an undisclosed investment in Circle Cardiovascular Imaging Inc, a Calgary-based developer and marketer of cardiac-image analytical software. The investment forms part of the company's latest fundraising, originally announced in March, which also saw investments by BDC Capital and Epic Capital Management. The Accelerate Fund is an angel co-investment fund managed by Canadian venture capital firm AVAC.
2 min read · 10 May 2016
The Accelerate Fund has made an undisclosed investment in Circle Cardiovascular Imaging Inc, a Calgary-based developer and marketer of cardiac-image analytical software. The investment forms part of the company's latest fundraising, originally announced in March, which also saw investments by BDC Capital and Epic Capital Management. The Accelerate Fund is an angel co-investment fund managed by Canadian venture capital firm AVAC.
2 min read · 10 May 2016
WealthBar, a Vancouver-based online wealth manager, has raised $5.5 million in funding. The round was led by Nicola Wealth Management, a Canadian high-net-worth investment firm, and joined by other backers, including investor Howard Atkinson and Paul Geyer, CEO of LightIntegra Technology. WealthBar, which was launched in 2012, combines technology with advisory capacity to provide low-cost financial planning and wealth management to investors. It said it plans to use funds raised to expand the company's reach and create new service offerings, including a platform for independent financial advisors and firms.
3 min read · 10 May 2016
Canadian education technology startup FreshGrade has secured $11.6 million in a Series A financing. The round was led by Canadian venture capital firm Relay Ventures with participation from Reach Capital, Accel Partners and Emerson Collective. Based in Kelowna, British Columbia, FreshGrade provides an educational resource for teachers, parents and administrators that allows for maximum classroom engagement and real-time assessment. Founded in 2011 by CEO Lane Merrifield and Steve Wandler, the company's technology is today used in 70 countries. FreshGrade's Series A round brings its total fundraising so far to $15.9 million.
4 min read · 10 May 2016
Norman Winarsky has joined Canadian venture capital firm Relay Ventures as its first ever executive-in-residence (EIR). Winarsky is the former president of SRI Ventures, the venture investment arm of SRI International, a research institute founded by Stanford University. SRI has been responsible for the launch of more than 60 ventures valued at over $25 billion. As an EIR based in Relay's office in Menlo Park, California, Winarsky will advise the firm's portfolio companies and support its investment team with due diligence on potential deals.
3 min read · 09 May 2016
Norman Winarsky has joined Canadian venture capital firm Relay Ventures as its first ever executive-in-residence (EIR). Winarsky is the former president of SRI Ventures, the venture investment arm of SRI International, a research institute founded by Stanford University. SRI has been responsible for the launch of more than 60 ventures valued at over $25 billion. As an EIR based in Relay's office in Menlo Park, California, Winarsky will advise the firm's portfolio companies and support its investment team with due diligence on potential deals.
3 min read · 09 May 2016
The federal government's Start-Up Visa program has introduced 51 immigrant entrepreneurs to Canada as of May 2, 2016. The program, launched in April 2013, requires that non-residents obtain funding from a Canadian angel investor group, venture capital firm or incubator when applying for visas. Entrepreneurs made permanent residents of Canada account for 26 startups launched, or planned for launch, in communities across the country, the government said. More than 50 additional permanent resident applications are currently being processed.
2 min read · 06 May 2016
Soundbite Medical Solutions Inc has secured $2.4 million in two recent financing rounds. The investors included Sherbrooke Innopole's seed fund and members of Anges Québec, an angel investment network. Founded last year, Sherbrooke, Québec-based Soundbite is developing a medical device that aims to replace bypass surgery and amputations for treating blocked arteries. The technology originated through research at the Université de Sherbrooke. Soundbite said it plans to wrap up product development and launch a commercialization strategy in Europe and North America in the next 18 months.
3 min read · 05 May 2016
