Private Equity
Energy and power-focused venture capital firm EnerTech Capital has led an new investment in Markwater Handling Systems Ltd. 32 Degrees Capital, which has previously invested in the company, and Export Development Canada joined EnerTech in the deal, whose value was undisclosed. Based in Calgary, Markwater is focused on the treatment and recovery of oil based drilling muds through its subsidiary FP Marangoni. Founded in 2010, the company has raised more than $27 million in funding to date. EnerTech, which has offices in Toronto, Calgary, Montréal, Philadelphia and Menlo Park, is currently investing from its fourth fund, closed in 2013.
3 min read · 30 May 2014
Canadian specialty finance firm Wellington Financial has invested in an undisclosed, U.S.-based web marketing optimization company. The growth financing totaled $11 million. Wellington president and CEO Mark McQueen said the Toronto-based firm has financed more than 30 different venture-backed companies in the United States, helping American entrepreneurs preserve and or create jobs for more than 5,000 knowledge workers.
1 min read · 29 May 2014
CANARIE and GrowLab have entered into a partnership to provide entrepreneurs with cloud-based resources to support product development and commercialization. Through the partnership, clients of Vancouver-based startup accelerator GrowLab will gain access to CANARIE's Digital Accelerator for Innovation and Research, which offers cloud-based computer, network and storage resources to small businesses. Established in 1993, CANARIE is a non-profit corporation based in Ottawa.
4 min read · 29 May 2014
Askuity Inc has raised $1.8 million in a seed-stage financing round. The round's backers included Canadian early-stage venture capital investor MaRS Investment Accelerator Fund, Dunnhumby Ventures, the venture investment arm of U.K.-based customer science company Dunnhumby, and a number of angel investors. Askuity plans to use the funding to accelerate penetration into retail markets with its intelligent cross-retailer analytics platform, which connects retailers and product vendors to enable better collaboration, planning and overall retail execution. Based in Toronto, the company was established in 2012.
3 min read · 28 May 2014
Medical imaging company XLV Diagnostics Inc, a portfolio company of commercialization agent MaRS Innovation, has secured $3 million in a Series A financing round. The funds were provided by U.S.-based foundation Bernard M. Gordon Charitable Remainder Unitrust, and will be used to support continued product development and regulatory approval. Based in Thunder Bay, Ontario, XLV specializes in low-cost, next-generation digital mammography machines. Established in 2011, it was previously funded by MaRS Innovation, the Ontario Institute for Cancer Research, Sunnybrook Health Sciences Centre, Thunder Bay Regional Research Institute and FedNor.
3 min read · 28 May 2014
Flixel Photos Inc, a developer of photography software that combines still photographs and features of video, has secured convertible debenture financing totaling $460,000. The funds were raised by Canadian boutique investment banking firm Cranson Capital from a number of private accredited investors, and will be used to help develop and expand the business. The Toronto-based Flixel has previously raised financing from the Canadian Media Fund and Fierce Capital, the venture capital investment arm of U.S. fashion company The Tyra Banks Co. The company was founded in 2011.
3 min read · 28 May 2014
RapidFire Inc has bought the proprietary in-game advertising technology of IGA Worldwide Inc. The financial terms of the transaction were not disclosed. Founded in 2011, the Vancouver-based RapidFire enables advertisers to target engaged consumers playing video games. The acquisition of IGA's Radial Network platform will give the company a more robust system and allow it to provide more services to media-buying clients and game-developer partners, RapidFire said. Based in New York, IGA Worldwide has been venture-backed since 2005. Its investors have included Easton Capital, Kreos Capital and T-Venture.
3 min read · 28 May 2014
Arius Technology Inc, a provider of laser-based optical scanning systems, has closed a Series A financing round that brings its total funding to $2 million. The round's investors were not disclosed. Funding proceeds will be used to facilitate the company's ramp up of manufacturing and production of its mobile color scanner, as well as its go-to-market marketing and sales initiatives. The Vancouver-based Arius had its core technology developed by the National Research Council of Canada.
2 min read · 27 May 2014
Canadian specialty finance firm Difference Capital Financial has made an additional investment in Thunderbird Films Inc. The Vancouver-based company, which creates, produces and distributes content for the Canadian and U.S. media markets, received $2 million from Difference Capital as part of an oversubscribed $11.5 million preferred shares financing. Proceeds will be used for general corporate purposes, potential strategic acquisitions and specific production development opportunities. Difference Capital first invested in Thunderbird Films in late 2012.
3 min read · 27 May 2014
Social TV audience company Seevibes Inc has obtained $1 million in seed-stage financing. The round was led by Swiss venture capital firm Polytech Ventures, with the participation of existing investors, including Canadian firm Real Ventures, which has backed Seevibes since 2011. As part of the deal, Polytech managing director Laurent Bischof will join the company's board of directors. Funding proceeds will allow the Montréal-based Seevibes to ramp up international development efforts, to secure additional media partnerships and to bolster its growing team. A graduate of startup accelerator FounderFuel, the company currently has offices in both North America and Europe.
2 min read · 27 May 2014
