Private Equity
Montréal-based nGUVU, a developer of gamification and machine learning software for contact centres, has raised $3 million from Canadian venture capital firms Brightspark Venture Capital and Desjardins Capital de risque. Brightspark told PE Hub Canada the deal is its first utilizing a new funding model that allows Canadian accredited investors to co-invest in selected financings. A total of 26 investors committed to the nGUVU round alongside Brightspark. nGUVU, which was founded in 2013, plans to use the funds raised to accelerate growth, hire new talent, and enhance its software product.
2 min read · 12 April 2016
Semios, a Vancouver-based provider of precision farming management solutions, has secured $8 million in follow-on financing. The round's backers included undisclosed investors in the agricultural technology sector, with assistance from Haywood Securities. Founded in 2010, Semios has developed a platform of sensors and control devices that reduce risks for specialty crops. It plans to use the funds raised to accelerate growth through expanded sales, services, and research and development efforts. Semios has previously received financing from angel investors and government funds.
3 min read · 12 April 2016
Acuva Technologies Inc has secured $850,000 in an oversubscribed seed-stage financing. The Canadian investors included BDC Capital, entrepreneurship@UBC Seed Fund, and several angel investors. Vancouver-based Acuva is a developer of point-of-use water purification systems using ultraviolet light emitting diode technology created at the University of British Columbia. It is currently selling products for recreational boats and vehicles and for off-grid home use in North America, and plans to bring the technology to developing countries by 2020.
3 min read · 12 April 2016
U.S.-based venture capitalists started 2016 with a bang, raising more money during the first three months of the year than in any quarter in 10 years. Together, 57 funds collected almost US$12 billion, more than double the level of the fourth quarter and a 59 percent jump from first-quarter 2015, according to a report from the National Venture Capital Association and Thomson Reuters.
1 min read · 11 April 2016
Biopharmaceutical company Esperas Pharma Inc will partner in a $7 million investment in a project to develop a new oral anti-cancer agent called ESP-01. The company's partner is the Québec Clinical Research Organization in Cancer (Q-CROC). Esperas said it will develop the agent over the next three and a half years in patients with advanced or metastatic cancer, including metastatic triple-negative breast, colorectal or ovarian cancer. Based in Montréal, Esperas was launched last year with a US$16.5 million round led by TVM Capital and joined by the Fonds de solidarité FTQ.
6 min read · 11 April 2016
Two Ottawa-based startups, Clearwater Clinical Inc and Gymtrack Inc, have secured $650,000 and $805,000, respectively, from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). FedDev said the investment will leverage up to $2.95 million in additional funding from BDC Capital and angel investors. Clearwater, a developer of mobile medical devices, in late 2014 raised $2 million in a round led by BDC Capital Healthcare Fund. Gymtrack, an exercise planning and coaching software provider, last year raised $2.5 million in a round led by White Star Capital and Real Ventures.
3 min read · 11 April 2016
Vancouver-based Yaletown Venture Partners has launched a new fund earmarked for technology companies in Canada that have exceptional growth potential, but often too little cash. Yaletown Emerging Growth Fund is targeted to raise $135 million in committed capital, Yaletown General Partner Mike Satterfield told PE Hub Canada. Fundraising is expected to commence shortly, with the goal of reaching a final close by the end of the year.
2 min read · 09 April 2016
Luma, an Atlanta, Georgia-based developer of surround WiFi for the home network, has raised US$12.5 million in a Series A financing. The round was led by U.S. venture capital firm Accel, with a significant investment from the Amazon Alexa Fund. The startup's existing investors, including Canadian venture capital firm Relay Ventures, also participated. Luma, which recently acquired Nodal Industries, said it would use the funds raised to satisfy customer demand for its product, expand global operations, and continue research and development.
4 min read · 08 April 2016
Acquisitions in the utility sector and a major cross-border pipeline transaction helped drive the volume of Canadian M&A activity up 48 percent in the first quarter of 2016, even though the number of deals declined, Reuters reported. Thomson Reuters data released on Thursday showed the overall number of deals in the period fell 18 percent to 511 from a year earlier, while the deal value surged to US$67.9 billion from US$45.9 billion a year ago.
2 min read · 07 April 2016
Canadian venture capital firm BDC Capital has agreed to partner with Startupfest in a series of festivals. Held in the Startupfest village in Montréal's Old Port, the events will aim to share knowledge and best practices, expand networks, and enhance collaboration between key players in the venture capital ecosystem. These will include startup founders, venture capital funds, angel investors and accelerators. The festivals will take place on July 13th.
3 min read · 07 April 2016
