Private Equity
Roadmap Capital has provided US$7 million in equity funding to LiquiGlide Inc. Based in Cambridge, Massachusetts, LiquiGlide is a developer of slippery surfaces to facilitate the movement of viscous liquids. Update: The company said proceeds of the investment will allow it to pursue its growth strategy, secure new laboratory and office space, and attract research scientists. Based in Toronto, Roadmap Capital invests growth capital in private innovative companies.
3 min read · 09 March 2015
Toronto-based mobile sports app provider theScore Inc (TSX-V: SCR) has completed its previously announced bought deal offering, raising total gross proceeds of over $26.5 million. Canadian venture capital firm Relay Ventures, which has backed theScore since its spin out from Score Media Inc in 2013, invested in the offering. John Levy Family Holdings Ltd also invested. Proceeds of the offering will be used by the company to develop its technology platform, expand sales and marketing efforts, and for general corporate and working capital purposes.
3 min read · 05 March 2015
Toronto-based Vanhawks, a hardware technology company focused on building a connected commuter bicycle, has raised $1.6 million in seed-stage financing. Canadian early-stage venture capital firm Real Ventures led the round with participation from other investors, including Y Combinator, Funders Club, Mike McCauley, Devon Galloway and Michael Litt of Garage Fund and Relentless Pursuits Partners. Update: Vanhawks said the seed investment will help it acquire additional staff and accelerate development and production of its flagship product, the Valour. In 2014, the company raised financing on crowdfunding platform Kickstarter.
3 min read · 05 March 2015
Energy and power-focused venture capital firm EnerTech Capital has led the US$11 million follow-on financing of Terralux Inc, a designer and manufacturer of LED lighting and building intelligence solutions. Joining the round were Generation Investment Management, Crawley Ventures, Emerald Technology Ventures, GC&H Investments, and the company's Founder and CTO Dr. Anthony Catalano. Terralux, which is based in Longmont, Colorado, said it will use funding proceeds to support sales growth and further development of its portfolio of LED retrofit products. EnerTech Capital has offices in Toronto, Calgary, Montréal, Philadelphia and Menlo Park.
3 min read · 05 March 2015
In early 2013, Canadian content marketing startup Pressly generated buzz when it raised $1.5 million in a first-time financing. This week Pressly took another step on its growth path, closing a $2.1 million follow-on financing that was led by Canadian venture capital firm Gibraltar Ventures and that was joined by existing investors iNovia Capital and OMERS Ventures.
2 min read · 04 March 2015
U.S. drug discovery company Vascular Pharmaceuticals Inc has raised US$9 million, bringing its total Series A financing to US$25 million. The expansion round was led by Canadian life sciences venture capital firm Lumira Capital. Other investors included Intersouth Partners and MPM Capital. With the round's closing, Lumira Capital's Beni Rovinski will join the company's board of directors. Based in Chapel Hill, North Carolina, Vascular Pharmaceuticals is focused on the development of new treatments for diabetic nephropathy. It will use funding proceeds to support Phase 2 clinical trials of its treatment program.
3 min read · 03 March 2015
Dash Hudson, a Halifax-based mobile commerce company, has wrapped up the initial close of its seed financing at $1 million. The deal, which builds on the $400,000 invested in the startup in June 2014, was backed by a group of investors, including Canadian venture capital firm Innovacorp. Its other new and existing investors include former Groupon CTO Paul Gauthier, DHX Media co-founder Charles Bishop, and GoInstant co-founders Jevon MacDonald and Gavin Uhma. Founded last year by Thomas Rankin and Tomek Niewiarowski, Dash Hudson has developed technology that enables mobile shopping through the sharing of images on Instagram.
4 min read · 03 March 2015
ChipCare Corp has secured $5.045 million in a Series A round, bringing its total funding to date to $8.3 million. The latest deal was led by U.S.-based Puffin Partners and was joined by new and existing investors, including MaRS Innovation, Maple Leaf Angels, Winfield Venture Group, Epic Capital, and a number of angel investors. Based in Toronto, ChipCare has developed a handheld, blood-testing platform for HIV and other infectious and non-communicable diseases. Its technology, which is currently being commercialized, is targeted to remote health settings. The company's first HIV-related test, which aims to link people with HIV with treatments, is expected to hit the market late next year.
4 min read · 03 March 2015
Financeit Inc announced that it has renewed its lending program with Pacific & Western Bank of Canada (PWB). The program will give the company a $70 million renewable purchase facility and a $5 million warehouse line facility to support expansion of its cloud-based financing platform. Founded in 2011, the Toronto-based Financeit enables small and medium-sized businesses to offer financing options to their customers from any device. It is backed by Canadian venture capital firm BEST Funds, U.S. firms FinSight Ventures and TTV Capital, and a number of other investors.
3 min read · 02 March 2015
Georgian Partners Growth Fund II, the second fund of Canadian venture firm Georgian Partners, is expected to surpass its target in an imminent final close, thanks to an investment strategy that has resonated with LPs. The fund, which is targeted to raise $120 million, is likely to be wrapped up by mid-March at more than $170 million, said Justin LaFayette, co-founder and managing partner of Georgian Partners.
3 min read · 02 March 2015
