Private Equity
Theranica said March 18 that it raised $35 million in a Series B round led by aMoon. All existing investors of the company – Lightspeed Venture Partners, LionBird, Corundum Open Innovation and Takoa – participated in the round. Theranica is a bio-medical technology company developing advanced electroceuticals for migraine and other prevalent diseases.
3 min read · 18 March 2019
Canopy Rivers has agreed to partner with LeafLink in a joint venture to deploy the U.S. company's cannabis business-to-business software platform to global markets. Canopy Rivers invested an initial US$2 million in LeafLink Services International ULC and has the option to invest an additional US$6 million. LeafLink invested an initial US$1 million. The initial investment gives Canopy, the venture capital arm of Canadian cannabis producer Canopy Growth Corp, an 18 percent stake in the joint venture. Based in Los Angeles, LeafLink serves more than 950 U.S. cannabis brands. Its investors include Lerer Hippeau, Nosara and Casa Verde Capital.
4 min read · 18 March 2019
Karuna Therapeutics Inc said March 18 that it raised a $68 million Series B round led by ARCH Venture Partners. Participating in the round were Fidelity Management & Research Co, Eventide Asset Management, Pivotal bioVenture Partners, Partner Fund Management, Wellcome Trust, Sands Capital, Alexandria Venture Investments, and founder PureTech Health. Karuna focuses on targeting muscarinic cholinergic receptors for the treatment of neuropsychiatric disorders including psychosis in schizophrenia, psychosis in Alzheimer’s disease, and pain. Karuna, with the $68 million round, plans to issue $5 million in shares upon conversion of debt into equity.
3 min read · 18 March 2019
Imara Inc said March 18 that it raised $63 million in a Series B financing round co-led by OrbiMed Advisors and Arix Bioscience plc. Participating were RA Capital and Rock Springs Capital. Existing investors New Enterprise Associates, Pfizer Venture Investments, Lundbeckfonden Ventures, Bay City Capital, and Alexandria Venture Investments also took part. Imara is a clinical-stage biopharmaceutical company focused on sickle cell disease and other hemoglobinopathies.
4 min read · 18 March 2019
Cold Gensys Inc said March 18 that it raised $22 million in a Series C round led by ORI Healthcare Fund LP. Perseverance Capital Management participated in the round. Cold Genesys is a clinical-stage biopharmaceutical company focused on the development of immunotherapies.
2 min read · 18 March 2019
Bridgit, a Kitchener, Ontario-based construction software provider, has secured $6.2 million in financing, according to a report by the Globe and Mail. The round was led by BDC Capital's Women in Technology Venture Fund. It was joined by MaRS Investment Accelerator Fund, Innovation Grade Ventures, Salesforce Ventures, Sands Capital Ventures, StandUp Ventures and Vanedge Capital. Bridgit is also negotiating debt financing with CIBC Innovation Banking that will bring new funds raised to $7.75 million, the report said. Founded in 2013 by CEO Mallorie Brodie and Lauren Lake, Bridgit provides software that simplifies communication and site management for developers, general contractors, subcontractors and property owners.
1 min read · 18 March 2019
Alcatraz AI said it has raised $6 million from the Hardware Club, Analog Devices co-founder Ray Stata, Ruvento Ventures, Hemi Ventures and JCI Ventures, the corporate venture arm of Johnson ControlsTyco. The Palo Alto company is developing a facial authentication product for the enterprise.
1 min read · 18 March 2019
Caisse de dépôt et placement du Québec (CDPQ) has launched a $250 million fund to invest in growing Québec companies with artificial intelligence (AI)-enabled product offerings. The fund, managed by the Canadian pension system's venture capital and technology team, will invest directly in expansion-stage companies with sound business models, growth potential, seasoned management and dedicated teams with AI experience. Target opportunities will include companies emerging from early stages of development in the portfolios of CDPQ-backed venture capital firms.
4 min read · 18 March 2019
Fonds de solidarité FTQ said it will invest $1 billion annually over the next three years with a focus on helping Québec businesses reduce their carbon footprint and adopt new technologies. The Montréal-based growth capital provider will do this partly by backing Québec startups, such as Kaloom, Mnubo and Worximity, focused on energy efficiency, cleaner industrial processes and technologies, less energy-hungry equipment, and more efficient transportation systems. Fonds de solidarité FTQ said the $1 billion annual target represents a nearly 30 percent increase over the pace of its investing during the past five years.
3 min read · 18 March 2019
LeanData said March 18 that it secured $27.5 million in financing led by Tenaya Capital. Industry Ventures participated in the round along with existing investors Shasta Ventures, Sapphire Ventures and Correlation Ventures. LeanData provides lead-to-account matching, routing and marketing attribution solutions.
3 min read · 18 March 2019
