Private Equity
Toronto-based product information network Hubba has closed $3.1 million in seed-stage funding. The round's backers included Canadian venture capital firm Brightspark and U.S. firm The Social + Capital Partnership, as well as a number of angel investors. Update: Founded in 2012, Hubba is a business-to-business technology startup that helps brands and networks to exchange product information. It said that it brought on 500 companies within the first 90 days of launching its platform and doubled the size of its employee base in 2014. Hubba is led by CEO Ben Zifkin.
3 min read · 16 December 2014
Neurio Technology Inc, formerly known as Energy Aware Technology Inc, has received $1.5 million in seed-stage financing. The investor was BDC ICE Venture Fund, one of three sector-focused venture capital funds managed by BDC Capital. Headquartered in Vancouver, Neurio is a home intelligence platform that has developed technology for monitoring home electrical devices, such as appliances, water tanks and heating, and cooling systems. It plans to use BDC's investment to fuel growth through development of its platform and additional employee hires. Founded in 2005, Neurio is led by president and CEO Janice Cheam and CTO Dr. Ali Kashani.
3 min read · 16 December 2014
Visual intelligence platform TRACE Live Network has secured $2.5 million in seed-stage funding. The round was led by principals of Canadian investment dealer Salman Partners and was joined by private investors in the network of Business Instincts Group, which created the company. Based in Venice, California and Calgary, Alberta, TRACE is the developer of TRACEr1, a visually intelligent camera that facilitates video capture and live streaming. The startup's founders include CEO Cameron Chell and CTO Paul Beard. TRACEr1 is expected to see retail availability in late 2015. A Canadian serial entrepreneur, Cameron Chell has contributed feature articles to peHUB Canada.
3 min read · 16 December 2014
Toronto-based commercialization hub MaRS Discovery District and Virgin Unite Canada have announced a partnership that includes a new venture capital fund. The fund has been seeded with $1.5 million by Virgin Unite, Mindset Social Innovation Foundation and other sources to invest in Canadian early-stage for-profit companies with a core social or environmental mission. MaRS, which will manage the fund, will continue raising capital up to a total of $5 million. The partnership will also support several Canadian accelerator programs, including MaRS' Impact8, RADIUS Ventures and Esplanade.
4 min read · 12 December 2014
Canadian venture capital firm Renewal Funds has made an investment in PRANA, an organic foods manufacturer. The investment's value was not published. Based in Montréal, PRANA's core product offerings include nuts, chia seeds, dried fruits and trail mixes, which are sold by food retailers across Canada. The company is the fourth to enter the portfolio of Renewal3, which invests in organic and natural foods, green products and environmental and social mission businesses in Canada and the United States. Renewal3, the Vancouver-based Renewal Funds' third partnership, raised $63 million in its final close in March.
3 min read · 11 December 2014
The Fonds de solidarité des travailleurs du Québec FTQ has committed US$15 million to the newly closed fifth healthcare fund of U.S. venture capital firm Versant Ventures. The Fonds said it backed the US$305 million fund because Versant is making an important contribution of capital and investment models to Québec’s life sciences sector. Earlier this year, Versant launched a new incubator in Montréal, Inception Sciences Montréal, which specializes in drug discovery and development.
3 min read · 11 December 2014
Gallop Labs has secured $2 million in seed-stage funding. The round was co-led by Canadian venture capital firms Golden Venture Partners and Mantella Venture Partners, and was joined by angel investors, including Allen Lau of Two Small Fish Ventures and CEO of Wattpad, Albert Lai, CEO of Big Viking Games, and Jennifer Lum, founder of Adelphic Mobile. Based in Toronto, Gallop Labs is a mobile marketing platform that leverages data and behavioral analytics to support marketing activity. It said proceeds of the investment will be used to accelerate company growth.
2 min read · 10 December 2014
Northern Biologics, a biologics startup based in Toronto's MaRS Discovery District, has emerged as the premiere spin-out initiative of Canadian biotechnology incubator Blueline Bioscience. Blueline, which was launched in late 2013 by U.S. venture capital firm Versant Ventures, formed the company in June in partnership with the University of Toronto and University Health Network's Princess Margaret Cancer Centre. Northern Biologics also received $10 million in a Series A financing from Versant's Fund V, which recently closed at US$305 million. It plans to recruit scientific personnel and advance its portfolio of antibody-based therapeutics for oncology and fibrosis.
4 min read · 10 December 2014
U.S. venture capital firm Versant Ventures has closed Versant Venture Capital V LP at US$305 million, surpassing its initial target of US$250 million. The fund will invest across the global healthcare sector and at all stages of company development. Versant, which has an office in Vancouver, has received capital commitments for Fund V from a number of Canadian institutional investors, including BDC Capital, Fonds de solidarité FTQ, Northleaf Venture Catalyst Fund and Teralys Capital. This support owed to Versant’s current and planned activity in developing Canada’s life sciences ecosystem.
3 min read · 10 December 2014
Routehappy Inc has received US$3.3 million in follow-on financing. The round was led by Canadian venture capital firm iNovia Capital and was joined by a mix of new and existing investors, including PAR Capital Ventures, High Peaks Venture Partners, Contour Venture Partners and Vocap Investment Partners. Founded in 2011, Routehappy is a New York-based SaaS platform that provides the airline industry with data, content, and tools to improve flight shopping. It said the deal will allow the company to expand its team and accelerate development, trialing, and sales of its product.
4 min read · 10 December 2014
