Tag Archives: money

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.

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.

Toronto Ada Support, chat automation software firm, raises $2.5m

Ada raised $2.5m from Bessemer Venture Partners with participation from Version One Ventures.

Ada Support is based in Toronto with about 10 employees. Ada is a customer support automation software that enables companies to easily leverage machine learning to provide instant answers to their questions in chat. They make automating and scaling customer support simple. With chatbots powered by AI, software provides instant support to customers.

Mike Murchison, CEO and co-founder at Ada Support, said:

“The customer support industry will be one of the first to adopt AI to improve productivity, responsiveness and customer satisfaction. Like previous technological breakthroughs before it, artificial intelligence will create new occupations that we didn’t foresee. It’s been exciting to see evidence that Ada Support is already beginning to facilitate this.”


Tucker Schreiber and his team at Shopify use Ada to provide fast, engaging bot-first support for their app Frenzy, a new kind of flash sale experience.

Tucker Schreiber of Shopify said:

“Ada is a tremendous tool for our team; it has saved us from hours of support tickets, informed product decisions, and is a delight to use.”


Watch the video below.


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:

Pythian, Ottawa based company, received $15m in funding

Pythian has received funding to further geographic expansion into Europe as well as to repurchase shares from some long-term shareholders.

Pythian is a global IT services company, based mainly in Ottawa, that specializes in designing, implementing, and managing systems that directly contribute to revenue and business success.

You can see their new offices in the video below: