Participated · Equity · Dec 2023

Spotta develops proprietary artificial intelligence combined with ultra-low-power Internet of Things monitoring devices to provide real-time pest detection and actionable insights. The company holds patented technology and has received multiple awards for its work. Spotta’s platform is already deployed commercially across more than 20 countries. Leadership positions the business as an early leader in pest-management technology, supported by an experienced management team. The recent £3.4 million funding round will fund continued product development and commercial expansion. The company is based in Cambridge.

Participated · Equity · Aug 2014

Verold builds web-delivered tools and a content engine for creating interactive 3D, video and audio experiences. Its Studio tool enables users to create highly engaging interactive experiences inspired by offline toolkits like Flash and Unity but delivered over the web. The content engine is powered by Three.js and WebGL and can integrate photo-real 3D scans to run real-time interactive journeys. Verold is applying these capabilities to education and product marketing, as evidenced by deals with Pearson Education and Alexx Henry Studios for Amazon’s Kindle wake screen. The company raised a $1.6M second round from GrowthWorks Capital, the Ontario Growth Fund and several angel investors including Daniel Langlois and Marc Petit. CEO Ross McKegney framed the mission as giving creative teams new tools to tell engaging web stories and highlighted WebGL-native performance as central to the company’s approach.

Participated · Equity · Jul 2014

Axela Inc. develops novel molecular diagnostic tools and partners with international companies and laboratories to commercialize clinical tests and instrument solutions. The company’s products can predict risk, diagnose, and monitor the progression of cancers, infections and other diseases by measuring more than 100 genes or proteins simultaneously. Axela is Toronto-based and has positioned its clinical analyzers as a core part of its commercial offering. The firm received a $708,333 repayable contribution from FedDev Ontario’s Investing in Business Innovation (IBI) program and a $2,125,000 venture capital investment from Covington Capital. These funds are being used to expand the capabilities of its clinical analyzers. The financing comes alongside IBI’s broader mandate to support early-stage, high-growth businesses with financial support and mentorship.

Led · Series A · Jan 2014

Smart Skin Technologies develops Quantifeel™ solutions that fuse sensors, deep analytics and artificial intelligence to give manufacturers actionable data on forces containers experience during filling and packaging. Its technology is used globally and the company supports 18 of the world’s 20 largest pharmaceutical companies and nearly every major bottling company. Smart Skin's systems identify previously undetectable adverse operating conditions to reduce breakage, improve yield, and prevent downtime. The company has earned industry recognition, including PharmaPack’s Best Manufacturing Innovation and supplier awards within Coca‑Cola’s bottling network. To accelerate growth in the food, beverage and pharmaceutical industries, Smart Skin plans substantial hiring—up to 50 new employees over the next year, primarily in Fredericton, New Brunswick. The company raised capital in 2021 to fund that expansion and scale its manufacturing, engineering, software development, sales, marketing and field support efforts. Smart Skin Technologies is an award-winning manufacturer of pressure sensing container devices and analytics. Its solutions are used by global brands in the beverage, food production, and pharmaceutical industries. The company announced a Canadian $3.1 million strategic investment. The investment was led by SCHOTT AG. The deal was described as strategic in the announcement. Smart Skin Technologies offers a hardware and software solution that precisely and in real time measures pressure on bottling and packaging production lines using a patented touch-sensitive film. Its system has been adopted by top beer brands, food producers and packaging and container companies. The company plans to accelerate product development and expand its sales and marketing presence. Smart Skin was founded in 2009 by CEO Kumaran Thillainadarajah and is based in Fredericton, Canada. Financially, the company has completed multiple financings, most recently securing a Series A to support growth, having previously raised funds from New Brunswick investors.

Participated · Equity · Jan 2014

ResponseTek provides an enterprise Customer Experience Management (CEM) software solution called the ResponseTek Listening Platform™, which integrates customer experience data and reporting across organizations to eliminate information silos. The platform targets finance, telecommunications and retail enterprises to improve customer satisfaction. Led by president and CEO Syed Hasan, ResponseTek operates in over 30 countries across North America, Europe and Asia. Founded in 1999 and based in Vancouver, Canada, the company plans to use the new funds to continue growing and to expand into the Middle East and Asia. ResponseTek raised $6m in financing from Beedie Capital Partners and GrowthWorks.