Canada

Eventbase Technology raises $2 mln in first-time VC, buys LetsLynk

Eventbase Technology Inc, a Canadian mobile event technology platform, has secured $2 million in a Series A financing round. The investor was SXSW Tech, a venture capital fund recently formed by SXSW Inc, a U.S. organizer of conferences, events and festivals. The investment, which is Eventbase's first, will help it further accelerate the pace of product development and global expansion. Concurrent with the deal, the company announced that it has bought U.K.-based LetsLynk, a provider of trade show technology. The acquisition's value was not disclosed. Eventbase is based in Vancouver.

Start-up Visa gives nod to Ara Labs Security Solutions' founders

Ehsan Mokhtari and Hadi Shiravi Khozani, co-founders of Ara Labs Security Solutions Inc, are the latest successful applicants under the Start-up Visa Program, launched by the federal government in 2013 to attract foreign entrepreneurs to Canada. Ara Labs, a Fredericton, New Brunswick-based online fraud monitoring platform, was launched by the Iranian-born founders with a February 2014 investment from New Brunswick Innovation Foundation and Technology Ventures Corp. The first successful Start-up Visa applicants were Zeetl Inc's founders. Zeetl was in September acquired by Hootsuite Media.

BEST Funds provides debt financing to Financeit

Canadian venture capital and private equity firm BEST Funds has provided undisclosed debt funding to Financeit Inc, a consumer financing platform based in Toronto. The deal will support the company's future market growth in North America. Since launching in 2011, Financeit has signed up over 3,500 retail, vehicle, home improvement and healthcare businesses that have processed more than $700 million in loans, the company said. Earlier this year, Financeit closed $40 million in renewable purchase and warehouse line facilities, and in 2013 raised US$13 million in a Series A round from U.S. venture capital firm TTV Capital and other investors.

Vicky Sharpe joins EnerTech Capital's advisory board

Dr. Vicky Sharpe has joined the advisory board of EnerTech Capital, a venture capital firm focused on innovation in the energy and power industries. Sharpe is the founder and former CEO of Sustainable Development Technology Canada (SDTC), which invests in Canadian clean technology startups. She has more than 35 years of experience in the energy industry. EnerTech, which has offices in Toronto, Calgary, Montréal, Philadelphia and Menlo Park, is currently investing from its fourth fund, which raised nearly $120 million in 2013.

Halifax's SupplyStream seeded with $250k from Innovacorp

SupplyStream has obtained $250,000 in seed-stage funding from Canadian early-stage venture capital firm Innovacorp. Based in Halifax, Nova Scotia, SupplyStream is developing a technology management system for manufacturers, distributors and retailers to access industry data more efficiently. It plans to use investment proceeds to further product development and expand into new markets. Founded in 2011, the company said it has raised more than $1 million from investors to prove the concept in the electronics industry.

Chango, Hootsuite and Shopify top Deloitte's 2014 Technology Fast 50

Deloitte has announced the winners of its 2014 Technology Fast 50 program, which together achieved an average five-year growth rate of 4,736 percent, a significant increase from last year’s growth rate of 832 percent. As in past editions of the Fast 50, a high proportion of the Canadian winners were venture-backed. They include the top three: Chango, a digital media company; social media innovation developer Hootsuite; and Shopify, an e-commerce and retail platform. Chango, Hootsuite and Shopify achieved five-year growth rates of 69,800 percent, 56,514 percent and 16,759 percent, respectively. A full list of the 2014 Fast 50 can be obtained here.

Beehive joins $1.3 mln seed funding of e-commerce startup VIDA

U.S. e-commerce platform VIDA has been launched with US$1.3 million in seed-stage financing. Backers of the round included Canadian angel investment firm Beehive Holdings, as well as Google Ventures, The Valley Fund, Slow Ventures, Universal Music Group, Nanon and others. VIDA's technology connects shoppers with international artists, designers and manufacturers to buy socially responsible apparel and accessories. Based in Vancouver, Beehive invests in innovative companies with diversified teams and products and services that are used by women.

Quandl nabs $5.4 mln in VC funding from August Capital

Toronto-based Quandl, a web-based platform for financial and economic databases, has secured $5.4 million in a Series A funding round. The investor was U.S. venture capital firm August Capital. Concurrent with the funding, Dave Marquardt and Tripp Jones, respectively co-founder of and partner at August Capital, have been added to Quandl’s board of directors. Update: Founded in 2013, the company said it will use funds to fuel its expansion into commercial data. Quandl currently hosts over 10 million financial and economic datasets on its website.

Rho Canada, Build Ventures lead $3 mln financing of Resson

Resson Aerospace Corp has received $3.025 million in venture capital financing. The round was led by Canadian venture capital firms Rho Canada Ventures and Build Ventures, and was joined by BDC Capital, New Brunswick Innovation Foundation and other private investors. Headquartered in Fredericton, New Brunswick, Resson is a bioinformatics and data analytics startup that helps large agricultural producers create efficiencies to maximize crop production and profits. The company said that investment proceeds will be used to accelerate its technology and hire staff. Resson was founded in 2013.

Monteris Medical reels in $30 mln in Series B financing

Monteris Medical Corp has received about US$30 million in Series B funding. Birchview Capital led the round with participation from The Vertical Group and previous Canadian backer BDC Capital Healthcare Fund, one of three sector-focused funds managed by BDC Capital. Based in Plymouth, Minnesota, and Winnipeg, Manitoba, Monteris is a developer of minimally invasive laser systems to address brain lesions. Update: Monteris said the capital infusion would support expansion of commercial and clinical programs for its robotic neurosurgical system. Founded in 1999, the company's technology was developed from research begun at Winnipeg's St. Boniface General Hospital.