Private Equity
Mojio Inc has secured $8 million in a Series A financing. Telekom Capital, the investment arm of German telecommunications company Deutsche Telekom AG, led the round with participation from Canadian venture capital firms Relay Ventures and BDC Capital, and from AOL Inc co-founder Steve Case. Headquartered in Vancouver, Mojio is a connected car app platform. Update: The company said the proceeds of its latest investment will provide support to its U.S. and international growth strategy. In October 2013, Mojio raised $2.3 million in seed-stage funding. That deal was led by Relay Ventures.
4 min read · 24 March 2015
The Business Development Bank of Canada (BDC) has earmarked $700 million of funding over three years to help finance Canadian women-owned businesses. Beyond supporting existing clients, the funding will over this period provide an additional 300 to 400 in loans to companies that are majority-owned by women. Lesley Lawrence, a BDC senior vice president, will lead and support related initiatives. The announcement was made at the federal government's Women Entrepreneurs Forum in Ottawa.
3 min read · 23 March 2015
Canadian apparel and design business Joe Fresh has committed $1 million to the launch of The Joe Fresh Centre for Fashion Innovation. The centre, which reflects a long-term partnership with Ryerson University, will develop and fund emerging Canadian fashion startups through Ryerson's Fashion Zone, a student-focused incubator. The initiative is modelled after Digital Media Zone, which has incubated over 125 companies since 2010.
4 min read · 23 March 2015
Corsa Technology, an Ottawa-based provider of next-generation networking hardware solutions, has secured $16.5 million in a Series B financing. The round, Corsa's second since its founding in 2013, was led by Canadian venture capital firm Roadmap Capital and joined by existing backers, including Celtic House Venture Partners, BDC Capital and an unnamed strategic technology investor.
2 min read · 20 March 2015
Ticketfly Inc has bought Northern Tickets, the ticketing service of The MRG Group, an owner of hospitality and entertainment operations across Canada. The deal's financial terms were not released. Ticketfly, a San Francisco-based ticketing technology platform, said the acquisition accelerates its growth and adds new Canadian venues to its client list. The company launched its Canadian operations in 2013. Founded in 2008, Ticketfly is backed by several U.S. venture capital firms, including Contour Venture Partners, Cross Creek Capital, Mohr Davidow Ventures, Northgate Capital, Primary Venture Partners and Sapphire Ventures.
4 min read · 20 March 2015
Katherine Barr, general partner at Mohr Davidow Ventures, is stepping down this month as co-chair of the C100, the Silicon Valley-based non-profit organization established to support Canadian entrepreneurship. She will be replaced in that role by Angela Strange, partner at Andreessen Horowitz. Strange will work with existing C100 Co-Chair Scott Bonham, founding partner of GGV Capital. Barr, who said she will remain on the C100's board of directors, was last year interviewed by peHUB Canada at the time of BuildDirect's Series B financing, which was led by Mohr Davidow.
6 min read · 19 March 2015
Astrix Networks Inc, which operates as Memex Automation, has obtained up to $800,000 from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). FedDev Ontario said members of the Niagara Angel Network also committed $1.6 million of financing to the company. Based in Burlington, Ontario, Memex is a provider of technology solutions that enable automated machine tools to work and connect on the factory floor. The company will use investment proceeds to commercialize the latest version of its product MERLIN and additional features to be rolled out in the coming years.
4 min read · 19 March 2015
Spartan Bioscience Inc, an Ottawa-based provider of on-demand DNA testing technology, has received an undisclosed strategic investment from Canon USA Inc, a subsidiary of Japan's Canon Inc. The partnership is intended to help fund the research and development of new diagnostic testing products. Canon BioMedical Inc will focus on working with Spartan on these products, which will include rapid genetic testing. Founded in 2005, Spartan is a portfolio investment of Canadian angel organization Maple Leaf Angels.
3 min read · 19 March 2015
Opera Software ASA has bought SurfEasy Inc, a Toronto-based provider of virtual private network solutions for protecting online privacy and security. The financial terms of the deal were not published. Opera Software, an internet business with headquarters in Oslo, Norway, said the acquisition will expand its security-focused product footprint. SurfEasy was co-founded in 2011 by CEO Chris Houston, CTO Athir Nuaimi and COO Steve Kelly. It has been backed by a number of investors, including Canadian venture capital firms Mantella Venture Partners, MaRS Investment Accelerator Fund and BrandProject, as well as U.S. financial services firm Comerica.
3 min read · 19 March 2015
Kitchener, Ontario-based robotics startup Clearpath Robotics Inc has secured $14 million in a Series A financing. U.S. venture capital firm RRE Ventures led the round with participation from Canadian firm iNovia Capital. With the deal's closing, Stuart Ellman, managing partner of RRE Ventures, has been added to Clearpath's board of directors. Update: Founded in 2009 by University of Waterloo engineering graduates Matthew Rendall, Ryan Gariepy, Patrick Martinson, and Bryan Webb, the company plans to use investment proceeds to expand its robotics portfolio for industrial applications. Clearpath raised $360,000 in funding from angel investors in 2010.
4 min read · 18 March 2015
