Participated · Equity · Jan 2026

Musical AI is an Ottawa-based startup focused on solving attribution and rights management for the generative-AI music ecosystem. Its platform supplies licensed music data for model training, then continuously monitors downstream usage so rightsholders can be identified and paid. The product combines license management with detailed attribution reports, enabling AI developers to remain compliant while giving artists confidence that their work is respected. Generative-AI companies integrate the service to access pre-cleared content and automated royalty calculations. With fresh capital, the company plans to grow headcount, enhance its attribution technology, and pursue landmark industry agreements. The recent $4.5 million raise underpins these product and business-development efforts, but no additional operating metrics have been disclosed.

Participated · Equity · Jun 2025

3DBioFibR develops scalable biopolymer fibers using a patented dry‑spinning platform that can process over six biopolymers. Its fibers report performance metrics two to three times the strength of natural tissue and are produced at over 3,600× the scale of conventional wet spinning and electrospinning, with improved uniformity and cost‑efficiency. The company has signed paid development agreements and partnerships across tissue engineering, medical devices, defense, cosmetics, and apparel, including several multinational corporations. The recently closed financing will fund ISO 13485 certification, construction of a clean room, and manufacturing scale‑up to meet rising global demand for medical‑grade and performance biomaterials. 3DBioFibR positions itself as a supplier for regulated clinical and therapeutic applications and plans to expand commercial and clinical partnerships. The company is based in Halifax, Nova Scotia. 3D BioFibR develops patented, fully automated collagen-fiber manufacturing technology to produce biofibres that mimic natural materials such as spider silk and collagen. The company is focused on producing recombinant human collagen for the medical research market and launched two products in June: μCollaFibR and CollaFibR, a three-dimensional cell-culture scaffold. To scale production the firm is collaborating with PlantForm Corporation and plans to use PlantForm’s vivoXPRESS plant-based biologics platform rather than mammalian-cell systems. A recent collaborative project funded by Next Generation Manufacturing Canada aims to improve collagen expression scale, increase fiber manufacturing capacity, and validate methods for incorporating recombinant collagen feedstock. 3D BioFibR was founded in 2020 by Sullivan and CSO John Frampton, a biomedical engineering professor at Dalhousie University, and operates with a 12-person team. Financially, the company previously raised $550,000 in 2020 and $700,000 of equity in 2021, and closed an equity and debt round worth $3.52 million in July of this year. 3D BioFibR develops and produces high-value collagen fibers at commercial scale using a proprietary, fully automated dry-spinning process. The company says its process is the only one that produces diameter-controlled collagen fibers at commercial scale and is at least 3,600x faster than competing manufacturing methods. Its collagen fibers are positioned for use in 3D cell culture and tissue engineering, recreating the natural appearance, structure, and function of collagen. 3D BioFibR plans to expand facilities to include a climate-controlled biomanufacturing cleanroom and a new wet lab and cell culture facility to bring its premium collagen fiber products to market. The company is backed by seed financing and receiving government support, including a repayable contribution and NRC IRAP advisory and R&D funding to support development of an automated collagen fiber manufacturing system. Management emphasizes accelerating capacity to meet growing demand from tissue engineers. 3D BioFibR produces naturally sourced, high-value biofibers including collagen (CollaFibR™) and spider silk for use in biomedical engineering, 3D tissue culture, tissue engineering, green textiles, defense, and aerospace. The company uses a proprietary dry-spinning manufacturing process that the team says is faster than current methods and preserves the natural properties of the proteins. Recent messaging emphasizes transition from a lab-based process to an automated production system to deliver consistent, high-quality products at commercial scale. Management plans to scale up and automate manufacturing to be ready for first market sales in the second half of 2022. The company is prioritizing engagement with industry to secure commercial partnerships, with an initial focus on tissue culture and tissue engineering applications. 3D BioFibR was incorporated in July 2020 and is operating from Halifax, Nova Scotia. 3D BioFibR is an advanced biofibre materials company based in Halifax, Nova Scotia, Canada. It manufactures naturally sourced, high-value biofibres including spider silk, collagen and chitosan. The company targets applications across biomedical engineering, green textiles, defense and aerospace. Leadership includes CEO Kevin Sullivan and Chief Scientific Officer Dr. John Frampton. 3D BioFibR plans to use new capital to develop and commercialize its tissue engineering and biomedical device products and to scale up manufacturing of its biofibre platform. The firm raised external funding to support those development and commercialization efforts.

Participated · Equity · May 2024

Potential Motors develops Terrain Intelligence, a software platform that uses forward-facing sensors such as cameras and computer vision to interpret terrain shape, incline, surface type, obstacles and more. The platform can present data to drivers or autonomously self-select vehicle control adjustments including drive mode, suspension and differential settings and torque levels. The company targets commercialization of its AI-powered perception solutions across automotive, powersports, mining and defense sectors. Potential has partnered with CFMOTO Powersports Inc and has delivered an innovation project for a global automotive brand, with another pilot underway in Q2 and further projects at scoping stage. Led by CEO Sam Poirier and based in Fredericton, NB, Canada, the company recently raised additional funding to support commercialization. The recent financing brought the company’s total raised to $8.5M. Potential Motors develops vehicle control software for electric side-by-sides that integrates subsystems like torque control and suspension and proactively optimizes them for changing terrain. The software is intended to help manufacturers transition to electric by improving performance, enabling new features, and simplifying vehicle architecture. The company plans to use the new funding to expand its team, further develop its technology, and complete rigorous off-road testing of its prototype platform, which it expects to reveal later that year. Potential Motors is headquartered in Fredericton, New Brunswick, Canada and targets the fast-growing UTV market, which the article notes is transitioning to electric, growing 50% faster than automotive and expected to reach $11.95B by 2027. The firm is VC-backed and has raised C$6.5M (US$5M) to date, including the newly announced $3.2M round. CEO Sam Poirier highlighted that software will be a key differentiator as off-road vehicles electrify. Potential Motors, founded in 2018, is developing an electric vehicle control system and core software called RallyAI that manages power, braking, and steering at each wheel. The company uses AI and computer vision to boost vehicle safety and responsiveness without replacing the driver. It pivoted from converting gasoline cars to electric powertrains to focusing on software after new team members joined. Recent hires Marcel LeBrun and Chris Newton, from the founding teams of Radian6 and Q1 Labs, joined the company and influenced the strategic shift. The company says it will use the new funding to expand its technical team and accelerate platform development. This seed raise is the startup's first external fundraise.

Participated · Seed · Apr 2024

TrojAI provides a comprehensive AI security platform designed to protect AI/ML applications and infrastructure. Its platform includes a firewall to safeguard applications from real-time threats, plus penetration-test models and remediation guidance delivered prior to deployment. The company is led by CEO Lee Weiner and CTO James Stewart. TrojAI raised $5.75M in Seed funding to grow operations and enhance product development, sales, and marketing. To meet growing global demand it plans to expand operations to the U.S. with a new office in Boston, Massachusetts. The company also added Chip Hazard, General Partner and Co‑Founder of Flybridge Capital Partners, to its board. TrojAI is a provider of a cybersecurity platform for AI solutions based in Saint John, NB, Canada. Its platform focuses on protecting the entire AI pipeline from training through deployment, including protecting training data from data poisoning, defending against model evasion attacks, and tracking model robustness to natural and malicious long‑tailed edge cases. The company intends to use the funds to scale its team and expand tooling across those areas. Over the past year TrojAI has participated in the Techstars Montreal AI accelerator, the Rogers Cyber Catalyst program out of Ryerson University and the Global Affairs Canadian Technology Accelerator for Cybersecurity. It is also working with Venture Lab and Creative Destruction Lab in Toronto. James Stewart serves as CEO.

Participated · Equity · Jul 2022

ProcedureFlow provides a visual, easily updatable platform for creating, organizing, sharing, and tracking organizational procedures to serve as a single source of truth for company processes. The software is designed to simplify how employees navigate workflows, accelerate proficiency, and improve onboarding and training outcomes. ProcedureFlow’s format emphasizes highly consumable, visual process flows that can be updated end-to-end to keep operational knowledge current. The company says its product boosts employee confidence from day one by making procedures accessible and easy to follow. In July 2022 ProcedureFlow secured $11.8 million in funding to accelerate its mission of revolutionizing procedural knowledge management globally. Gemba Software Solutions is a Saint John, New Brunswick-based SaaS provider focused on workplace training, best known for its ProcedureFlow knowledge-management product. ProcedureFlow turns complicated, text-heavy information into simple visual processes to train employees faster and cut operating costs. The company lists customers including the Los Angeles Department of Water & Power, Wyndham Hotel Group, and Enbridge Gas New Brunswick. Launched in 2012 and led by CEO Daniella DeGrace, Gemba says ProcedureFlow has helped clients increase productivity and support growth through visual knowledge transfer. Gemba plans to use the $2.9 million investment to increase sales efforts, scale operations, and continue growing revenue. NBIF and other backers characterize Gemba as one of the highest revenue-generating companies in their portfolio, and the CEO has more than 20 years of experience, including involvement with Q1 Labs and Radian6.