Private Equity
Canadian venture capital firm iNovia Capital has expanded its presence in the Toronto-Waterloo corridor with the hire of Sarah Marion as an analyst. Working from the firm's office in Waterloo, Marion will be responsible for tracking startup activity in the Kitchener-Waterloo and Toronto ecosystems. Marion was previously a senior researcher at the Lazaridis Institute for the Management of Technology Enterprises. Montréal-based iNovia Capital earlier this year raised $175 million in the final close of its fourth fund.
4 min read · 21 April 2016
Vancouver-based biotechnology company Qu Biologics Inc recently secured $4 million in private equity financing, bringing its total funding to $23 million. The investors were not disclosed. Founded in 2007 by Dr. Hal Gunn and businessman Rob Freeman, Qu Biologics specializes in the development of site-specific immunomodulators that aim to restore the body’s normal immune response to chronic disease. Funds raised will be used to expand the company's clinical and non-clinical programs this year.
3 min read · 21 April 2016
Vancouver-based biotechnology company Qu Biologics Inc recently secured $4 million in private equity financing, bringing its total funding to $23 million. The investors were not disclosed. Founded in 2007 by Dr. Hal Gunn and businessman Rob Freeman, Qu Biologics specializes in the development of site-specific immunomodulators that aim to restore the body’s normal immune response to chronic disease. Funds raised will be used to expand the company's clinical and non-clinical programs this year.
3 min read · 21 April 2016
Sitka Biopharma, a biotechnology spin-off of the Centre for Drug Research and Development (CDRD) and the University of British Columbia (UBC), recently raised seed funding. The investment, the value of which was not disclosed, came from life sciences venture capital firm Quark Venture. Founded in 2013, Vancouver-based Sitka is a developer of nanoparticle platform technology aimed at increasing drug absorption in difficult-to-penetrate tissues. The seed funding will allow the company to advance its lead compound for the treatment of bladder cancer into clinical trials.
5 min read · 21 April 2016
PrecisionHawk Inc, a provider of aerial data and safety technology for drones, has secured about $22.7 million (US$18 million) in follow-on financing. The company, which is based in Raleigh, North Carolina and Toronto, was backed in the round by new investors Verizon Ventures, a subsidiary of USAA, NTT Docomo Ventures and Yamaha Motor, as well as existing investors Intel Capital, Millennium Technology Value Partners and Innovate Indiana Fund. Founded in 2011, PrecisionHawk said it will use the new investment's proceeds to continue product innovation and global expansion.
4 min read · 20 April 2016
Bridgit, a cloud-based mobile and web communication platform designed for the construction industry, has secured $2.2 million (US$1.7 million) in seed-stage financing. The round was led by U.S. venture capital firm Hyde Park Venture Partners, and was joined by Canadian firm Vanedge Capital. Kitchener, Ont.-based Bridgit, founded in 2012, has so far been used by over 100 contractors and achieved double-digit month-over-month revenue growth, the company reported. It said it will use funds raised to hire new engineers and salespeople and acquire more U.S. customers. Bridgit was previously funded by angel investors.
4 min read · 20 April 2016
Canada's TD Bank Group was one of five commercial banks that invested in the Series E round of Transactis, a provider of electronic billing and payment solutions. TD, the other four banks, and Safeguard Scientifics each contributed an equal amount to the US$30 million round, which brings total funding of the New York-based Transactis to US$70 million. TD's Rick Burke said the investment "will help meet our customers' demand for leading electronic payment solutions across North America." Founded in 2001, Transactis is also backed by venture capital firms, including ff Venture Capital and Metamorphic Ventures.
7 min read · 19 April 2016
Thirdshelf, a Montréal-based loyalty marketing software provider, has received $800,000 in seed-stage financing. The investors included Canadian venture capital firm iNovia Capital, Interaction Ventures and Otimo Ventures. Several angel investors also participated. Founded in 2014, Thirdshelf has created a cloud-based platform that allows independent retailers to deploy data-driven customer loyalty programs. The company said it would use funds raised to add retailers to the platform, continue developing its technology, and forge more partnerships.
4 min read · 19 April 2016
DalCor Pharmaceuticals, a Canadian developer of precision treatments for cardiovascular disease, has secured US$100 million ($127 million) in a Series B financing. The investment, which follows a US$50 million Series A round last year, was backed by U.S. venture capital firm Sanderling Ventures and Canadian businessman André Desmarais. They were joined by several new investors, including the Caisse de dépôt et placement du Québec, Fonds de solidarité FTQ and CTI Life Sciences. With the deal, the Caisse's Stéphane Etroy has joined the company's board. Montréal-based DalCor said the funds raised will support a Phase 3 clinical trial of dalcetrapib, a drug intended to reduce cardiovascular events in a genetically distinct subset of patients.
4 min read · 19 April 2016
FusionOps, a provider of cloud-based analytics applications for the supply chain, has raised US$25 million in a Series C financing. The round was led by Canadian growth equity firm Georgian Partners with participation from the company's existing investors, including New Enterprise Associates and Prabhu Goel, FusionOps' chairman. With the round's close, Tyson Baber, a principal at Georgian Partners, will join the company's board. Mountain View, Calif.-based FusionOps said it will use the funds raised to advance its market leadership, expand international sales operations, and continue investing in customers.
3 min read · 19 April 2016
