Tag Archives: financing

February 2018 Edition: Canadian Tech Startups Money Raised

Another month passes, and another amazing round for Canadian startups raising tons of money. Congrats to Quebec and Ontario companies leading the way with most money raised this month. All money raised have been converted to Canadian dollars.

List of Canadian companies that raised money in February 2018. We missed any? Let us know in the comment below:

  • Angoss Software Corporation, a Toronto, Ontario data science platform provider, was acquired by Massachusets based Datawatch for around $30m Canadian.

Angoss’ predictive analytics and data mining software solutions help companies grow revenue, increase sales productivity, improve marketing effectiveness, deepen customer loyalty, and reduce risk, using data profiling and visualization, decision tree analysis, predictive modeling, scoring and strategy building.

  • Cognixion also known as Smartstones, a Toronto, Ontario with offices in Santa Barbara, CA neurotech A.I. company, raised $1M in funding.

Cognixion™ is building a revolutionary sensory communication platform with an audacious goal of being able to communicate with anyone around the world via a direct brain computer interface.

  • Appili Therapeutics Inc., a Halifax, Nova Scotia biopharmaceutical company developing and commercializing anti-infective drugs, raised around $5m in financing (read here)

Appili Therapeutics was founded to advance the global fight against infectious disease by matching clearly defined patient needs with drug development programs that provide solutions to existing challenges patients, doctors, and society face in this space.

© 2014 HA Photography.com
  • Tilray, a Toronto, Canada-based medical cannabis research, cultivation, processing and distribution company, raised C$60m in funding .

Tilray offers BC’s best marijuana delivered to your door, with a wide selection of medical cannabis products including oils. 

  • 7D Surgical, a Toronto, Ontario, advanced optical technologies and machine vision company , completed an undisclosed financing round .

7D Surgical is a privately-owned Toronto based company that develops advanced optical technologies and machine vision-based registration algorithms to improve surgical workflow and patient care.

  • Loopio, a Toronto, Ontario RFP software product provider, raised around $11m Canadian in funding.

Loopio is a proposal and knowledge management software service that simplifies the process of responding to Requests for Proposals (RFPs) and Request for Information (RFIs), as well as Due Diligence Questionnaires (DDQs) and Security Questionnaires.

  • Frank and Oak, a Montréal, Quebec, clothing and accessories retailer, raised $16m in funding .

Clothing company. Designed in Canada. Made for good living.

  • Hack Capital, a Vancouver, Canada-based provider of an ops platform built for startup founders, raised a $750k in seed funding.

At Hack Capital, we work with seed-stage, high growth companies that rely on their ability to scale their operations and make data driven decisions in real time to be successful.

  • GoFetch, a Vancouver, British Columbia, mobile app to find and book dog sitters and walkers, raised $3.4m in funding. This is on to of $1.4m GoFetch raised last year.

Find trusted dog boarders, sitters, walkers, and daycare providers near you in Vancouver, Toronto, Calgary, Montreal, and all across Canada.

  • Unsplash, a Montréal, Quebec, photo platform, raised C$7.25m in funding

Beautiful high quality free images and photos you can download and use for any project.

  • Dojo Technology Corp., a a Vancouver, BC, financial software company, secured an undisclosed amount of seed funding

How We’re Raising Money-Smart Kids. Dojo makes Financial institutions active partners in financial education.

  • Wealthsimple, a Toronto, Ontario, fintech, raised a $65m.

Wealthsimple is the smartest and easiest way for everyone to invest their savings.

  • LegUp Computing, Inc., a Toronto, Ontario, FPGA device software, closed a seed funding round of undisclosed amount.

Our long-term vision is to make FPGA programming easier for software developers.

  • Dialogue, a Montreal, Quebec, health service services, closed a $12m Series A.

Dialogue provides progressive, premium and affordable healthcare, accessible on mobile, for Canadian companies who care.

  • D-Wave Systems Inc., a Vancouver, BC, quantum computing company, raised $20m in funding

D-Wave Systems, Inc. is a quantum computing company, based in Burnaby, British Columbia, Canada. D-Wave is the world’s first company to sell quantum computers.

  • Greencopper, a Montreal, Quebec company, provider of mobile and web technologies for live events was acquired by New York based Patron Technology for undisclosed amount.

Greencopper, a global provider of mobile and web technologies for live events.

  • Jiffy on Demand, a Toronto, Ontaro, mobile platform that connects home maintenance and repair professionals to homeowners, raised $3m in funding

Jiffy is a web and mobile platform that connects homeowners with service providers in real time, based on proximity and availability.

22 Canadian Tech Startups That Raised Money in January 2018

January was another great month for Canadian tech startups.

Top stories came from Ontario and Quebec with Quebec Busbud raising $11m and Ontario Wattpad raising $51m among many others. Most investments were done in Ontario and Quebec. Time to wake up Alberta and British Columbia?

Either way, great seeing hundreds of millions dollars raised in January 2018. Good job guys!

List of all startups that raised money in January 2018 in Canada.

Are we missing any? Let us know.

CanvasPop, an Ottawa, Ontario / London England / Las Vegas startup, raised $3.3m. 

The best way to print your memories as wall art, pillows, and magnets. Gallery quality canvas and photo paper. Get featured with #canvaspop.

Platterz, a Toronto, Ontario, raised US$15m 

Platterz is an online platform for ordering catered food. We make it easy to order delicious food from Toronto’s best restaurants and caterers.

Bench, a Vancouver, British Columbia, raised $18m 

Bench pairs you with a team of professional bookkeepers to do your bookkeeping, leaving you to run your business.

Nicoya Lifesciences, a Kitchener, Ontario, raised $2m 

Nicoya Lifesciences is a nanotechnology company developing sensor products that will change the world of biotechnology, lifesciences, and healthcare.

Busbud, Montreal, Quebec, raised US$11m 

Busbud is a worldwide bus and coach travel company that allows travellers to search, compare, and book intercity bus tickets.

Mnubo, a Montreal, Quebec, raised $16.5m 

Mnubo’s Internet of Things analytics solution enables manufacturers to analyze their data using out-of-the-box and artificial intelligence driven insights.

Drop, a Toronto, Ontario, raised $21m (USD) 

Get cash rewards. Redeem your Drop points for gift cards when and where you want!

Vention, a Montreal, Quebec, raised a $3.5m CAD 

Vention provides a fully-integrated 3D MachineBuilder™ and modular component library that let users design, order, and assemble custom industrial equipment machine directly from a web browser in just a few days.

Iris Automation, a Vancouver, British Columbia, and San Francisco, CA, raised $8m USD 

Iris Automation is building an AI-based collision avoidance system for industrial drones

eStruxture Data Centers, Montreal, Quebec, got $180m in funding 

eStruxture Data Centers Inc., a new network and cloud-neutral data center operator based in Montréal, announced the creation of its Canada-wide platform. It will serve the increasing demand for large, energy efficient data centers, driven by the adoption of cloud services and a move to store data within Canada.

Data Nerds, a Kelowna, British Columbia, raised $3m 

Data Nerds provides the most extensive and accurate property, neighbourhood and crime data solutions for your businesses or apps.

Clover, a Toronto, Ontario, secured $7m 

Clover is a dating app made by people who were generally tired of using dating apps. They saw them as little more than elaborate middle-men that often weren’t that effective.

Wattpad, a Toronto, Ontario, raised USD $51m 

Wattpad is a community for readers and writers where one can discover new user-generated stories, spanning across different genres including classics, general fiction, historical fiction, non-fiction, poetry, spiritual, teen fiction among others.

 

Anandia Laboratories Inc., a Vancouver, British Columbia startup, raised  C$13.4m 

Anandia is leading cannabis biotechnology and testing company.

Ratehub, a Toronto, Ontario, raised a $12m 

Ratehub.ca is Canada’s leading financial product comparison website. Our education centres, tools, and calculators were designed to empower users to make smart financial decisions.

Mylo Financial Technologies Inc., Montreal, Quebec startup, secured CAD$2.5M 

FinTech startup that offers a mobile personal finance platform to help Canadians achieve their financial goals.

Igloo Software, a Kitchener, Waterloo, Ontario, raised a CAD$60m growth equity investment 

IGLOO Software is a Canadian-based company that develops online communities and social software for business.

Ulula, Toronto, Ontario startup, raised $1m 

Ulula connects businesses, workers, communities and governments to de-risk operations and create value across global supply chains.

Inocucor, a Montreal, Quebec as well as Denver, Colorado startup, raised $9.5m 

Inocucor produces high-performance specialty biological products that naturally improve crop yields and replenish soils.

Rubikloud Technologies Inc., a Toronto, Ontario AI startup, raised $37m 

Rubikloud uses AI to help retailers transform their organization from the mass market into customer‑centric leaders.

Hive Blockchain Technologies, Vancouver, BC blockchain startup, secured C$65m 

Hive is building a bridge from the blockchain sector to traditional capital markets. HIVE is strategically partnered with Genesis Mining Ltd., the world’s leading cryptocurrency mining hashrate provider, to build the next generation of blockchain infrastructure.

Wave, Toronto financial software firm, raises $32.38m Canadian in funding

Wave , the leading provider of financial management software for entrepreneurs and small business owners, raised US$24 million strategic financing.

National Australia Bank (NAB), Royal Bank of Canada (RBC), Portag3 (the investment arm of PowerCorp focusing on financial services innovations), and Exhibition Capital participated in financing the deal. The investment also includes funding from existing investors CRV, Social Capital, BDC IT Venture Fund and BDC Capital, OMERS Ventures, Harbourvest and OurCrowd.

Wave employs about 150 employees mostly in their Toronto and Kitchener offices.

The company manages more than $175 billion in income and expense transactions for its customers, including $21 billion in annual invoicing. The company’s first product was a free online accounting software designed for businesses with 1-9 employees, followed by invoicing, personal finance and receipt-scanning software (OCR). In 2012, Wave began branching into financial services, initially with Payments by Wave (credit card processing) and Payroll by Wave, followed by Lending by Wave in February 2017.

Kirk Simpson, CEO and co-founder of Wave, says,

“Since 2010, Wave has been an innovator in small business financial solutions. Our customers tell us that by deeply integrating financial services into our cloud-based software, we are helping them thrive while changing how they think about and use small business financial products.”