Participated · Seed · Jun 2025

Xatoms develops solar-activated, infrastructure-free water treatment materials discovered with an AI and quantum chemistry platform. Its core product is a computationally discovered material that can purify contaminated water in about 30 minutes using only sunlight or LED light, addressing biological pathogens, heavy metals and chemical pollutants. The startup targets remote communities, Indigenous regions and industrial sites that lack conventional water systems. Founded in 2024 by Diana Virgovicova (CEO), Kerem Topal Ismail Oglou and Shirley Zhong, the Toronto-based team combines chemical engineering, quantum science and AI expertise; Virgovicova was named to Forbes 30 Under 30 North America 2025. Xatoms has raised $3M in pre-seed funding (including $2M in venture capital and $1M in non-dilutive grants) and plans to use the capital to scale pilot programs, grow technical and manufacturing teams, and expand partnerships with communities, industry and government. The company says its platform also has potential beyond water purification for broader materials discovery across climate tech and sustainable manufacturing.

Participated · Seed · Feb 2025

Afynia Laboratories builds a blood test called EndomiR that detects endometriosis by measuring a panel of circulating microRNA biomarkers and using an algorithm to compare expression profiles to surgically confirmed cases. The company spun out of McMaster University and was founded in November 2021 by researchers including Dr. Lauren Foster and Dr. Jocelyn Wessel, with Dr. Jake Prigoff as CMO. Afynia is positioning EndomiR as a non-invasive alternative to surgical diagnosis, aiming to shorten long diagnostic delays for people with pelvic pain or infertility. The startup plans to seek regulatory approval as a laboratory-developed test (LDT) in Canada and expects a Canadian launch potentially as soon as this summer, with a U.S. launch targeted for early next year. Longer-term plans include expanding the microRNA platform to additional women’s health diagnostics and exploring lower-blood-volume sampling (e.g., finger-prick) though that is not yet available. Financially, Afynia has raised a $5M seed and previously about $1.5M in pre-seed funding from academic and angel backers. Afynia Laboratories is a medtech startup developing EndomiR, a proprietary microRNA panel run by PCR and an algorithm to generate a risk score for endometriosis from a single blood tube. The company was founded in 2021 by former McMaster University researchers Lauren Foster and Jocelyn Wessels and is based in Hamilton, Ontario. Afynia has completed studies expanding to 300 patients, participated in a CIHR-funded 1,000-patient study, and reported reproducibility across labs with only ~3% variance. The startup is pursuing a laboratory-developed test pathway in a CLIA-certified laboratory, has registered with COLA, and expects full regulatory compliance by September. On the commercial side, Afynia is serving eight fertility clinics and 35 fertility doctors, has surpassed C$100,000 in revenue, and operates a lab with capacity to process 50,000 tests per year. Longer-term plans include commercializing EndomiR in Canada and the US and then rolling out additional women’s health diagnostic products covered by other patents.

Participated · Series A · Feb 2023

BluWave-ai builds AI cloud software that optimizes the cost, carbon footprint and reliability of renewable and non-renewable energy in real time. Its platform helps utilities, fleet operators and electricity system operators improve planning and live-system energy decisions. The company targets grid optimization and the electric-vehicle market with solutions designed to decrease costs and emissions. Led by founder and CEO Devashish Paul, BluWave-ai plans to use new funding for commercial scale-out, new customer acquisition and expansion in existing markets. The company also intends to grow its staff to about 60 employees. BluWave-ai previously received a $1.73M government grant through FedDev Ontario announced in November 2022. BluWave-ai develops a machine-learning platform (BluWave-ai Edge and BluWave-ai Center) that connects to IoT sensors and meters to predict, optimize, and dispatch controls to balance cost, availability, and reliability of energy sources in real time. The platform trains models centrally in BluWave-ai Center and deploys them to BluWave-ai Edge for edge prediction and control. Since opening its seed round in Q2 2019 the company has secured utility and commercial customers on three continents, including an AI-enabled optimal energy dispatch in Prince Edward Island and a C$1 million energy optimization project with the Independent Electricity System Operator in Ontario. The startup has also run projects in Mumbai and partnered with Greencat Renewables in the U.K. BluWave-ai was founded in 2017 and is using the financing to expand internationally, build its patent portfolio, and begin a commercialization roadmap with multiple product releases. Financially, the company closed a C$3.9 million seed financing package that includes significant non-dilutive support; management cites customer traction, awards, product milestones, and financial outcomes as evidence of progress.

Participated · Series A · Jul 2022

Spiderwort is an Ottawa-based biotech company developing plant-derived, cellulose-based tissue scaffolding to treat acute spinal cord injuries. Its proprietary biomaterials received a Breakthrough Device Designation from the U.S. Food and Drug Administration. The company is developing two core products: CelluBridge, a cellulose-based biomaterial to promote spinal cord repair and regeneration; and CelluJuve, a cellulose-based dermal filler for injury recovery and cosmetic enhancement. Spiderwort plans to use the proceeds from its Series A to support the transition from pre-clinical studies to clinical trials for its biomaterial. The company is led by CEO Charles M. Cuerrier and CSO Dr. Andrew E. Pelling. It raised USD13.2M in Series A funding to advance those development and regulatory efforts. Spiderwort is an Ottawa-based healthtech and biomaterials startup developing plant-derived cellulose biomaterials that form scaffold architectures for regenerative medicine. Its lead product is in the pre-clinical stage and has shown potential in treating spinal cord injuries and soft tissue regeneration in pre-clinical trials. The company was spun out of the University of Ottawa and is led by CEO Charles Cuerrier, inspired by the work of TED Fellow Andrew Pelling. Spiderwort recently moved into a new facility in the University of Ottawa STEM building and is participating in the Creative Destruction Lab Health stream in Vancouver. Financially, the company closed an oversubscribed $500,000 CAD friends-and-family round and has previously received funding from the Ontario Brain Institute, the Ontario Centres of Excellence, and Invest Ottawa. It added new advisory board members including Dane Bedward and Peter Morand. Spiderwort plans to raise a Seed round, conduct further pre-clinical testing, and pursue regulatory approvals to move toward commercialization.

Participated · Seed · Sep 2021

LearnExperts provides a platform for rapid course creation through artificial intelligence (AI). The company emphasizes speed and ease in developing educational courses. Led by founder Sarah Sedgman, LearnExperts draws on her 20 years of experience at Cognos, IBM, PTC and Kinaxis. The company is based in Ottawa, Canada. In September 2021 LearnExperts raised $1.25M in seed funding. Backers included Sand Hill North, MaRS IAF, Capital Angel, Maple Leaf Angel and Georgian Angel networks, including six women investors. The company intends to use the funds to accelerate growth within the sector.