Led · Equity · Jun 2026

Baylis Medical Technologies develops and manufactures medical devices for interventional neurology and radiology, including a planned neurovascular access platform and technologies to treat chronic vessel occlusions. The company is advancing the launch of its neurovascular access platform and expanding advanced manufacturing capabilities in Mississauga. Baylis is investing $13.1 million in the project and has secured $2.5 million in provincial funding from Ontario's Life Sciences Scale-Up Fund to accelerate development and commercialization. Management says the work will improve brain access for neurovascular interventions and support interventions for patients at risk of limb amputation. The project is expected to create 25 new high-skilled jobs and sustain roughly 190 existing positions.

Led · Grant · Feb 2026

Intellijoint Surgical, headquartered in Kitchener’s Medical Innovation Xchange, builds computer-assisted orthopedic systems that have been used in more than 80,000 hip and knee replacement procedures worldwide. The company’s flagship products give surgeons real-time measurements to improve implant positioning and patient outcomes. To accelerate growth, Intellijoint is investing $1.3 million of its own capital to integrate AI and automation across sales, workflows, and production. The firm will use these upgrades to scale manufacturing capacity and streamline operations. Intellijoint’s technology focus aligns with broader provincial goals to strengthen domestic life-sciences capabilities. Operationally, the project is expected to sustain 34 current roles and create three new high-skilled positions. The additional government support detailed below bolsters the company’s financial resources for this expansion.

Led · Equity · Aug 2023

Synaptive Medical is a Toronto-based global medical technology company focused on improving outcomes across surgery, imaging, and data integration for neurosurgical care. Its integrated product suite includes Modus X, Modus Nav, Modus Plan and a dedicated MRI platform, alongside neuro-navigation and robotic visualization tools. The company completed a strategic restructuring while maintaining uninterrupted customer support, delivering major software upgrades and launching new collaborations with medical centers in the U.S. and Europe. Leadership says the newly secured private investment will bring Synaptive to profitability and support execution of its innovation roadmap. Synaptive was wholly acquired by a mission-aligned consortium of MedTech executives, clinicians, and experienced investors and added neurosurgeon Dr. Joshua Bernstock as an incoming board member. The investment is described as the first phase of a broader capital initiative, with additional funding expected to accelerate product development and commercialization. Synaptive Medical is a Toronto-based, high-growth medical technology company that develops surgical, imaging, and data solutions, including a head-only 0.5T Magnetic Resonance Imaging (MRI) system. The company’s 0.5T Synaptive MRI is designed to improve accessibility and rapid cranial diagnosis in time-sensitive cases such as brain tumour and stroke. The announced project will expand Synaptive’s manufacturing and R&D activities related to that head-only MRI system and broader product suite. Synaptive’s product portfolio also spans surgical planning, navigation, and robotic visualization, intended to deliver patient-centric information and automated efficiency across clinical interventions. The company received provincial support—a $900,000 grant from the Ontario Together Fund—toward a $2.8 million project budget to scale manufacturing and R&D. This is the second Ontario Together Fund project for Synaptive; in July 2021 it received $153,300 toward a $204,400 prototype drape development project. Synaptive Medical is a Toronto-based medical technology company that develops surgical robotics, mid-field MRI, surgical planning and navigation software, and integrated data platforms for operating rooms. Its products include the Modus V robotic exoscope, Modus Nav, Modus Plan and a mid-field MRI, which together form a fully integrated surgical suite that automates patient data across interventions. Synaptive’s technology is developed and manufactured in Canada and has been installed in 120 medical institutions across 20 countries. The company announced ongoing innovations planned for 2023 and beyond and intends to use new funding to expand clinician access and commercial capabilities. Financially, Synaptive secured a USD $40 million investment from Export Development Canada as part of a USD $50 million financing round to accelerate its surgical, imaging and data technologies. The partnership with EDC is positioned to accelerate development and international expansion of Synaptive’s portfolio. Synaptive Medical develops integrated hardware and software products for diagnostic imaging, surgical planning, navigation and robotic visualization, with particular focus on neurological and orthopedic applications. Its modular offerings include MRI cranial imaging, enhanced surgical planning and intraoperative visualization, and are designed for seamless integration across clinical workflows. The company emphasizes automation and optimized workflow to support medical decision‑making and improve patient outcomes. Synaptive also supports medical informatics and AI research as part of its product suite. The company announced a $17.0M preferred equity financing to support broader availability of its products and entry into the greater China market. Synaptive is headquartered in Toronto and has appointed a new distribution partner, Cicel Science and Technology (Beijing), for China market access. Synaptive Medical develops a suite of fully automated cranial and spinal hardware and software products, including Modus V and integrated BrightMatter solutions for surgical planning, navigation, visualization and medical informatics. The company offers seven primary, modular products designed to integrate with each other or third‑party systems to improve workflow and clinical decision‑making. Synaptive also provides research tools focused on large‑scale medical imaging and AI informatics. The company says the financing will enable broader availability of its product offering to enhance patient care in neurological and orthopedic settings. Financially, Synaptive completed a preferred equity financing and, as part of the closing, approximately $50,000,000 of the company’s debt converted into equity. Synaptive is described in the filing as a leader in automation and robotics focused on improving care in and beyond the operating room.

Led · Equity · May 2022

Untether AI develops high-performance AI chips intended for edge and embedded applications, including autonomous-vehicle perception, natural language processing, smart cities, banking, and retail. The company is partnering with General Motors on a two-year project to demonstrate an AV perception system that accelerates neural networks, improves vision response, reduces power draw, and helps enable battery downsizing. The GM collaboration will combine Untether’s computation technology with GM’s guidance and access to its current AV neural-network technology. The two-year project is funded with a $1 million OVIN R&D Partnership Fund award from the Ontario government plus $2.09 million in in-kind contributions from GM and Untether (people and salaries). Untether has an investor base that includes GM Ventures as a strategic investor and broader participation from VCs and industry investors. The company was founded in 2019 and is based in Toronto; with the recent grant and prior financings it has secured around $155 million in total funding to date. Untether AI develops at-memory compute architecture and ultra-efficient AI inference accelerators. Its tsunAImi accelerator cards, powered by runAI devices, are designed to eliminate the data-movement bottleneck and deliver industry-leading energy efficiency and compute density for inference. The company says its architecture targets cloud, edge, and embedded inference workloads across industries such as telecom, financial services, retail, autonomous vehicles, NLP, and smart cities. The new oversubscribed $125 million funding will enable Untether AI to expand current product reach, enhance its software offering, and accelerate development of next-generation products. Untether AI was founded in Toronto in 2018 and is backed by a group of strategic and institutional investors. The company emphasizes its scalable architecture and power efficiency as differentiators for high-throughput, low-latency AI acceleration. Untether AI develops ultra-efficient, high-performance AI chips that use at-memory computation combined with digital processing to eliminate the data-movement bottleneck in neural net inference. The company says its chip architecture enables higher energy efficiency and performance for AI inference workloads. Untether announced it will bring its chips to production and go to market this year. It raised additional funding to support that commercialization effort and has incumbent investors backing the company. Untether strengthened its management team with hires for VP of Product and VP of Software Engineering to bolster go-to-market and software optimization efforts. Founded in Toronto in 2018, the company is funded by Radical Ventures and Intel Capital. Untether AI has developed a new chip architecture for neural-net inference that combines near-memory design with digital processing to eliminate the data-movement bottleneck that costs energy and performance in traditional architectures. The company built a successful prototype with an initial small seed investment and says it has made significant technical progress. Untether plans to bring its chip innovations to markets including data centers, autonomous vehicles, vision processing and other embedded applications. Leadership changes accompanying the next stage of growth include naming Arun Iyengar as CEO and moving co-founder Martin Snelgrove to CTO. Financially, the company disclosed a $20 million Series A round that closed in May 2019 to fund product and go-to-market roadmaps. The team comprises founders Snelgrove, Darrick Wiebe, and Raymond Chik alongside new board representation from investors.

Participated · Seed · Mar 2022

PledgX builds software intended to transform how contractors are selected for construction jobs by using a common and secure data source that all parties can rely on. The platform is designed to make contractor selection easy, fast, and reliable. The company is a member of The Accelerator Centre and Communitech in Kitchener‑Waterloo, Ontario. PledgX completed a pre-seed financing and received financial assistance from the Province of Ontario and the Federal Government of Canada, collectively securing $570,000. The funds will support engineering and business development. The pre-seed financing was led by the founders and an angel investor.