Category Archives: Raised Money

Montreal Startup TickSmith, Big Data for Finance, raises $2m

Montreal firm, TickSmith,  with about 16 employees that specializes in in Big Data applications for Capital Markets and financial services, has raised $2m Canadian.

TickVault is a comprehensive software platform that leverages Hadoop and is highly scalable Its various modules include ETLs, business logic, analytics, workflow, process monitoring and data delivery. Trading groups typically use it to centralize Terabytes and Petabytes of data received from quote feeds, trading systems, event feeds and more. With multiple specialized tools and modules, the platform provides easily access to files, data, analytics, time-series and reports via point and click interfaces and APIs. TickVault can be deployed on a firm’s Hadoop cluster and in the cloud, on AWS.

Francis Wenzel, CEO and co-founder Co-Founder, TickSmith, says:

“Market participants recognise the competitive advantage that can be gained from a next generation capital markets data lake, not just in Europe and North America, but increasingly on a global basis.  As venture capital specialists within the capital markets technology space, Illuminate Financial are well positioned to help us further develop our flagship product, Tickvault, as we continue to build an international client base.”

Toronto Travel Website SnapTravel Raises $10M Series A

SnapTravel announced today an $8M USD Series A round led by iNovia Capital. SnapTravel allows users to find and book the perfect hotel room over SMS and Facebook Messenger.

Financing was provided by iNovia Capital as well as Lightbank, Bee Partners, and Hedgewood.

What is Snap Travel?

SnapTravel gives you access to great hotel deals over SMS and Facebook Messenger. No app to download. Send a message, book a room. We use a combination of machine learning and natural language processing to surface the best hotel recommendations at the best price. We are enabling commerce via messaging – the most natural environment on mobile.

SnapTravel CEO Hussein Fazal said:

“We are still in the early days of conversational commerce. But the trend is growing. Users want to chat with businesses, conduct commerce, and get things done within messaging apps – where they already spend most of their time.”

View booking video demo here:

Toronto Financial Tech Borrowell Secures $12m in Funding

Borrowell raised $12m Canadian in funding , this is on top of $4.2m they have already received.

Financing was provided by Portag3 Ventures LP, Equitable Bank and White Star Capital, with participation by FirstOntario Credit Union among others.

Borrowell is a Canadian fintech lender that offers fast, fair, and friendly personal loans, and credit scores for free. Its affordable, fixed-rate loans give Canadians a smarter way to access credit.

A wholly online application instantly provides personalized loan quotes to Canadians with good credit who want better alternatives to expensive credit card debt.

Andrew Graham, co-founder of Borrowell said:


The funding and credit will be directed towards increased marketing and providing more loans, as well as credit score monitoring. We’ve reached about 300,000 Canadians with our business, and we’re really looking to scale that number… we’re also continuously evolving our technology and making it better. That includes increasingly applying artificial intelligence in its technology.

One of the cool features of Borrowell? You can learn your credit score for free:

Montreal Element AI raises $140m Canadian, largest AI Series A round

Element AI, an artificial intelligence company that delivers groundbreaking AI solutions, announced today it has raised $102M USD, representing the largest Series A funding round for an artificial intelligence company in history.

Element AI is an artificial intelligence solutions provider that gives organizations unparalleled access to cutting-edge technology. Bringing together the best in entrepreneurship, technology and academic ecosystems, Element AI is building an AI-First World to elevate our collective wisdom. Element AI has about 70 employees mostly in their Montreal, Canada office.  They also have employees in Toronto and Quebec City.

Element AI CEO Jean-François Gagné said:

“Artificial Intelligence is a ‘must have’ capability for global companies. Without it, they are competitively impaired if not at grave risk of being obsoleted in place. Seasoned AI investors at DCVC understood this, and supported us to democratize the AI firepower reserved today for only the largest of tech corporations. Intel, Microsoft, and NVIDIA, as pioneers and champions of AI hardware and software, likewise understand that their businesses flourish as every company is empowered with world-class AI. This is why these leaders have backed us with the world’s largest Series A round ever for an artificial intelligence company. This historic round will help Element AI deliver profoundly powerful AI platforms for all, not just the few.”

Interview with Yoshua Bengio @ Shake IT Montreal 2017 about Artificial intelligence and Virtual reality.

Nymi, Toronto wearable band company, raises $20m Canadian

Nymi raised its $15m USD series B round from  investor GII Tech from Dubai, with participation from existing investors Relay Ventures and Ignition Partners. This is on top of their Series A of $14m USD, making a total of $29m USD to date.

Nymi founder and CEO, Karl Martin said: 

“This is an important milestone for Nymi. We have made significant progress in the last two years, delivering on our vision of wearable, Always On AuthenticationTM. This new round of financing, with the support of our existing investors and the addition of GII Tech Ventures, provides us with the necessary resources to enter the next phase of scaled deployments.”

Nymi’s vision is to deliver Always On Authentication™, transforming the model of authentication into a secure and seamless experience for both enterprises and end-users. Nymi’s first product, the Nymi Band, is a wearable device that delivers biometrically secured, persistent authentication. The Nymi Band utilizes strong biometric modalities such as HeartID™ – a proprietary technology that leverages the wearer’s unique cardiac signature (or ECG) as a biometric identifier.

Airy3D, Montreal 3D vision startup, raises $4.6m Canadian

Airy3D raised money from CRCM Ventures and R7 Partners with participation from WI Harper Group, Robert Bosch Venture Capital, Nautilus Venture Partners and angel investors affiliates of TandemLaunch, the Montreal-based incubator that spun out Airy3D.

Airy:3D provides a suite of passive depth recovery technologies that bring 3D machine vision to cameras. It serves entertainment, automotive, industrial, and security and surveillance markets. The company was founded in 2015 and is based in Montreal, Canada with about 10 employees.

Video below shows a single Airy3D powered camera segmenting and locating AIry3D co-founders Jiho and Guillaume over an 8 meter scene. Frame rates are not limited by our computational algorithms but by our camera providers hardware readout rates!

SkyX, Toronto drone charging startup, raises $5.2m Canadian

SkyX, based in Markham , Ontario, raised $5.4m from Chinese based technology group. Company is specializing in drone charging stations, so that drones can monitor vital objects like oil and gas pipelines.

SkyX drones are half-helicopter, half-plane and built to fly long distances so that they can monitor vital objects.

Skyx is targeting energy industry first. According to Skyx website, In North America alone, more than $37 billion US is spent annually inspecting such pipelines. It is often done with either conventional manned aircraft, ground inspection, or even satellite imagery.

Video outlines the product functionalities: