North America

C2RO raises $1.4 mln to advance collaborative cloud robotics

Collaborative cloud robotics platform C2RO Cloud Robotics Inc has secured about $1.4 million (US$1.1 million) in a seed-stage financing. U.S. venture capital firm Harbor Street Ventures led the round and was joined by TandemLaunch Ventures, which helped create C2RO, as well as Fonds InnovExport and several Canadian, U.S. and European angel investors. Founded in 2016, C2RO uses cloud-based artificial intelligence services to boost cognitive and collaborative capabilities of service robots with an internet connection. Led by President and CEO Riccardo Badalone, the Montréal-based startup will use the funds raised to accelerate commercialization of its enterprise solutions.

Cisco to acquire VC-backed Accompany for $270 mln

Cisco is planning on acquiring Los Altos, California-based Accompany, a relationship intelligence platform. The price of the acquisition will be $270 million in cash and stock. Accompany's backers include Ignition Venture Partners, Cowboy Ventures and CRV.

iNovia Capital leads $8 mln Series A funding of BenchSci

BenchSci, a Toronto-based artificial intelligence-powered search engine for biological products, has raised about $8 million in Series A financing. The round was led by Canadian venture capital firm iNovia Capital. It was joined by Google’s AI fund, Gradient Ventures, Golden Venture Partners, Afore Capital, Real Ventures and Radical Ventures. BenchSci’s platform helps biomedical researchers find reliable antibodies faster and less expensively than current methods. Founded in 2015 and led by CEO Liran Belenzon, the company will use the funds raised to expand its team, implement new sales and marketing programs, and scale its technology.

Car wash app Washé snags $3.5 mln seed

Washé, an on-demand car wash app, has raised $3.5 million in seed funding. The investors included Ron Zuckerman.

Canadian tech companies secure $1.36 bln of VC in Q1

Venture capital investment in Canadian technology companies continued at a strong pace in the first quarter of 2018, with $1.36 billion deployed to 128 financings, according to final data released by Thomson Reuters. In dollar terms, this represented the strongest quarter in 17 years and the fifth time in the past six quarters that Canadian companies raised more than $1 billion. Foreign investors played a key role in Q1 2018, accounting for over half of disbursements. Information technology investment stood at $780 million, the highest quarterly level since Q2 2001, while clean technology investment hit $376 million, more than doubling the prior record set in Q2 2013.

UK company builder Zinc fetches seed funding

London-based Zinc, a company builder, has secured more than 3 million pounds in seed funding. Zinc's investors included Atomico and LocalGlobe.

Portag3 Ventures backs fintech data platform Quovo

New York-based Quovo, a data platform for financial accounts, has secured funding, bringing its total tally to $20 million. The investor was Portag3 Ventures, a Canadian-based venture capital firm. The capital infusion will be used to help Quovo expand into the Canada market.

Refuge Biotechnologies racks up $25 mln Series B

Menlo Park, California-based Refuge Biotechnologies Inc, a developer of intelligent cell therapies to combat cancer, has secured $25 million in Series B funding. The lead investors were 3SBio and Sequoia China. Also, participating in the round were Danhua Capital, Sangel Capital, Ocean Pine Healthcare Fund, 3E Bioventures, WuXi Healthcare Ventures and ShangBay Capital. In addition to the funding, Dr. Zhenping Zhu of 3SBio and Dr. Trency Gu of Sequoia China, have joined the Refuge board of directors.

Portag3 Ventures backs Quovo's Canadian expansion

Quovo, a U.S. data platform that provides connectivity to consumer financial accounts, has expanded into the Canadian market. The initiative was backed by an undisclosed investment from Portag3 Ventures, an early-stage financial technology fund launched in 2016 by Canada’s Power Financial Corp. The deal brings Quovo's total financing so far to US$20 million. Founded in 2010, New York's Quovo provides businesses with connectivity and insights for millions of consumer financial accounts across more than 14,000 institutions. The company said Portag3’s investment will support building a regional team and meeting Canadian consumer demand.

Smedvig Capital leads Series B round for Poq

London and New York City-based Poq, an app commerce company, has raised 9.5 million pounds in Series B funding. Smedvig Capital led the round with participation from Beringea and Revolt Ventures.