Tag Archives: investment

8 Canadian Technology Startups That Raised Money in December 2017

Every month we list Canadian tech startups and how much money they have raised. The year ended strong with numerous companies raising millions of dollars.

December 2017 List Of Canadian Startups Raised Money

Mojio, Vancouver, BC, cloud platform for cars startup raised CAD$30M

Open, scalable and hardware agnostic, Mojio is the cloud platform of choice for the deployment of secure connected car apps and services. Mojio’s platform delivers a smarter, safer and more convenient driving and vehicle ownership experience to subscribers of major network operators, including Bell Canada, Deutsche Telekom, Rogers Communications, T-Mobile and TELUS.

LightIntegra Technology, a Vancouver, BC medical devices company, raised $3.5m

LightIntegra Technology empowers Hematologist-Oncologists, Transfusion Medicine Physicians, and Blood Banks with the information they need to provide the best care possible. Our flagship product, ThromboLUX, provides a simple and effective way to select the right blood product for the best possible transfusion outcome. ThromboLUX aids in the selection of blood products by determining the activation status of a platelet sample through a five-minute test.

Qvella, a Richmond Hill, Ontario molecular diagnostics company, raised US$20m

Qvella is a molecular diagnostics company founded in 2009 by a group of scientists and engineers with the primary goal of dramatically reducing time to results in microbiology. This objective, widely recognized as highly desirable, has proved elusive yet holds the promise of revolutionizing how medicine is practiced by offering actionable results in clinically relevant time frames to improve patient outcomes and save lives. Qvella’s Field Activated Sample Treatment (FAST™) technology utilizes a novel electrical lysing and sample treatment technique we call e-lysis™; enabling direct and fully-automated rapid detection of infectious agents from unenriched biological samples.

CrossBorder Solutions, a Belleville, Ontario-based provider of corporate tax software and services, secured $6M

CrossBorder Solutions has been keeping borders from becoming boundaries for clients throughout North America since 1997. Our staff of experienced staff ensures that each shipment is handled from origin to final destination quickly, safely and in accordance with every client’s special needs. While we utilize current technology aids to facilitate data and information exchange, we still maintain a tradition of people talking to people in a timely way. Educating, researching, strategizing and then coming up with solutions, have made us the premier service provider that companies chose to compliment their own logistics and project teams.

Artms Products, a Vancouver, BC, diagnostic imaging isotope developer, raised US$3m

ARTMS™ Products Inc. is a leader in the development of novel technologies and products which enable the production of the world’s most-used diagnostic imaging isotope, technetium‐99m (Tc‐99m), using local, hospital-based medical cyclotrons. ARTMS’ next generation high value medical isotopes include gallium-68 (Ga-68), copper-64 (Cu-64) and zirconium-68 (Zr-89). 

Aeponyx, a Montreal, Quebec micro optical switches maker , raised CAD$4.3m

AEPONYX is a fabless micro optical switch semiconductor start-up designing and manufacturing chips for fiber optic access to the cloud.

ACL, Vancouver, BC, provider of a SaaS platform for governments and companies to quantify risk, stamp out fraud, and optimize performance, raised $50m

ACL is a Vancouver-headquartered technology company focused on the global fraud detection, anti-bribery and corruption, and regulatory compliance markets. Named as one of Canada’s Top SME Employers and a BC Top Employer, ACL helps the world’s largest public and private companies stamp out fraud, operational waste and unethical business.

FindBob, a Toronto, Ontario provides transition management platforms for the financial services industry, raised USD$1.25m

Founded in 2014, Find Bob is the leading provider of transition management platforms for the financial services industry. Our mission is to ignite growth conscious cultures by aligning advisor and firm interests for every financial institution in the world.

Feds to Up Funding to Female Run Tech Companies

Females of tech world in Canada rejoice! The federal government, or more correctly the Business Development Bank of Canada has upped the support level funding by $20m from $50m to $70m.

This $70m funds have to be dispersed within 5 years to motivate more females to run their tech businesses.

StockSnap / Pixabay

Small Business Minister Bardish Chagger said:

“With the additional investment announced today, the BDC’s funding envelope to support women in tech becomes the largest of its kind in North America. There is still much work to do. I am proud of the fact that today, women have more resources than ever to scale their companies and expand the economy.”

$60m will be directly invested into female run tech firms, while the other $10m will be distributed to regions in Canada that need it most.

Women account for only 18.2 percent of all computer science and 18.4 percent of engineering bachelor’s degrees. So maybe this new funding will entice more female led entrepreneurs?

Netflix To Set The Record Straight on Canada

After facing some bad publicity in Canada, Netflix went full force to “set the record straight” on their investment into Canada. In case you missed it Netflix has agreed to $500m investment over next 5 years into Canada. Also Province of Quebec decided that they will charge taxes on Netflix whether it has offices in Canada or not, no matter what the federal government decides to do.

Netflix critiques’ blame it for not paying taxes in Canada and not providing enough Canadian content yet having around 6 million users (40% of Canada adult population over 16 and if you include household that number is probably closer to 60% of Canadian).

See their well written response below by Corie Wright, Netflix’s Director, Global Public Policy. Enjoy.

WerbeFabrik / Pixabay

Full Netflix Letter to Canada is Below

Last week, we received approval under the Investment Canada Act from the Minister of Canadian Heritage, the Hon. Melanie Joly, to create Netflix Canadaa new home for Netflix original productions in Canada. It’s our first permanent production presence outside of the U.S. Netflix will use Netflix Canada to work directly with Canadian producers, creators, talent and crews to create more great content.

As part of this approval, Netflix committed to invest at least half a billion CAD in movies and television shows produced in Canada, both in English and in French, over the next five years. This means certainty that Netflix will continue to play a large role in the Canadian production community. We have invested in Canada because Canadians make great global stories. That says more about the quality and strength of Canadian content, talent, and crew than a commitment of any dollar amount.

We have more work to do when it comes to finding great stories from Quebec told in French. That is why on top of the half a billion CAD investment, we made a commitment to invest CAD $25 million dollars in market development activities over five years. Netflix will use that additional investment to host pitch days, recruitment events, and support local cultural events to ensure Netflix Canada reaches vibrant Canadian production communities, including the French-language community in Quebec.

Setting the record straight

Since the announcement we’ve seen lots of excitement, questions, and even some conspiracy theories about our investment. We’d like to set the record straight:

  • The recent price increase has nothing to do with our investment or commitments.That price increase was planned a long time ago.
  • We have not made any deals about taxesOur investment was approved under the Investment Canada Act. No tax deals were part of the approval to launch our new Canadian presence.
  • Netflix follows tax laws everywhere we operate. Under Canadian law, foreign online services like Netflix aren’t required to collect and remit sales tax.

Netflix is an online service, not a broadcaster

Some say Netflix got special treatment because the government didn’t force us to meet special content quotas as part of our investment — that’s wrong. Netflix is an online service, not a broadcaster. No online media service — foreign or domestic — is subject to traditional broadcast media regulations like quotas or content levies; they’re also not eligible for the regulatory benefits that traditional media enjoy. The CRTC decided in 1999 (before Netflix even had a streaming service) that these regulations would not apply to internet-based media. We think that’s the right approach. Internet-native, on-demand services like Netflix are consumer-driven and operate on the open internet. We don’t use public property like broadcast spectrum or rights of way and we don’t receive the regulatory protections and benefits that broadcasters get (and, by the way, we’re not asking for them).

Canada’s exceptional, world-class stories and production community

People choose what they want to watch on our service so we have to invest in the best content from around the world. We didn’t invest in ANNEFrontierTravelers or Alias Grace to fill a quota, we invested because they are great global stories. We will continue to invest in great Canadian content, and in other productions made in Canada like Hemlock GroveA Series of Unfortunate Events, and Okja, that are not Canadian content but that make use of, and showcase to the world, Canada’s outstanding talent, facilities, resources and locations.

What’s next

We understand that people are curious and eager for immediate details about what comes next. But remember: our commitment marks a long term investment in Canada — not just a next week, next month, or next year investment. That means that now that we’ve been given the green light to establish a local production presence, we have some planning and hard work to do before we can make any additional official announcements.

There is more to come. Stay tuned….

-Corie Wright,

Director, Global Public Policy