The Venture Codex

Participated · Series B · Apr 2024

Equispheres develops atomization technology for metal powders to enable the industrialization of additive manufacturing for automotive, aerospace and defense customers. Its aluminum powders can increase printing speeds up to nine times versus industry standards while lowering production costs by as much as 80%, and they also improve mechanical properties, energy efficiency, reusability and safety. The company says it works closely with global leaders to engineer materials that unlock high-speed AM processes and new applications. Funding will support installation of multiple new reactors in 2024, facility expansion and continued collaboration on new materials with strategic partners. Equispheres positions metal powders as a large part of the value chain and cites the global aluminum casting market as an indicator of opportunity. The company is based in Ottawa, Ontario. Equispheres is a materials-science company in Ottawa that engineers ultra-high-performance, mono-sized metal powders for additive manufacturing. Its core product portfolio focuses on tailored metal powders and alloy development for industries that require aerospace-ready quality, and the company emphasizes heavy investment in metallurgy R&D. Recent testing reported powders that outperformed in additive-manufacturing aerospace-quality tests and development of an aluminum alloy powder suitable for binder jet printing, a previously unfeasible combination. With new capital, Equispheres plans to scale production capacity by improving reactors for higher volume and lower cost production and to accelerate R&D with strategic industry partners. The company also intends to hire talent and develop application support services to facilitate advanced manufacturing opportunities in automotive, aviation, space and defense. Financially, the company announced a C$30 million Series B financing that will support production scale-up and ongoing testing and partnerships. Equispheres is a materials science technology company in Ottawa focused on additive manufacturing applications and engineering ultra-high-performance, mono-sized metal powders. Its powder is designed as an ink for 3D printing and has been optimized for automotive and aerospace use, enabling parts to be manufactured faster and up to 30% stronger and lighter than traditional AM powders. The company says its powder can remove 100–200 kg of mass from an automobile and is expected to improve fuel efficiency by over 10% in the automotive industry. Equispheres’ powder outperformed aerospace-ready quality tests and showed “proven exceptional” results in tests performed by McGill University. The firm invests heavily in R&D around metallurgy and alloy development and is working with automotive and aerospace partners to deploy the technology. SDTC funding will support scaling production capacity and commercialization to drive emissions reductions.

Participated · Series A · Aug 2023

Niricson, founded in 2020 and based in Canada, digitizes critical infrastructure inspections using robotics, computer vision, acoustics, and machine learning. Its products AUTOSPEX™ and DRONIC™ provide multi-layered defect visualization and predictive maintenance insights for dams, bridges, runways, tunnels and other civil assets. The company serves more than 20 large customers globally, including utilities, governments, and engineering firms, helping them improve safety, decision-making, and maintenance programs. With the Series A funding, Niricson plans to expand its global footprint to make inspections safer, faster, and more efficient. It also intends to accelerate R&D to develop an AI-driven predictive analytics SaaS platform dedicated to managing critical infrastructure assets. The new capital is aimed at scaling operations, product development, and market deployment.

Led · Seed · May 2023

Marine Thinking is developing autonomous capabilities for vessels that retrieve ghost gear. The company is commercializing the ghost gear recovery process through automation to reduce underwater pollution and improve ocean sustainability. SDTC awarded Marine Thinking a $100,000 seed grant to aid development of integrating autonomous performance into ghost gear retrieval vessels. Marine Thinking was nominated for the SDTC program by VOLTA. The company was one of 28 Canadian firms selected as SDTC seed funding recipients. The funding is intended to support early-stage development and commercialization efforts.

Led · Equity · Feb 2023

BrainBox AI develops autonomous building technology that uses deep learning and cloud-based algorithms to optimize HVAC and reduce energy consumption. Its AI has been installed in over 700 commercial buildings across 20 countries. This year the company launched an autonomous decarbonization solution targeting the 38% of global greenhouse gases emitted by buildings. The company says recent funding will increase the scope and global scalability of its technology. Financial details in the articles note a $30 million fundraising close and a $10 million investment from a leading European insurance and asset manager. BrainBox supports real estate clients across office, hotel, retail, grocery and airport sectors and positions its tech as a 24/7 self-operating solution requiring no human intervention. BrainBox AI develops deep learning–based autonomous building technology that optimizes HVAC systems to cut energy costs and carbon emissions at commercial sites. Its platform claims up to 25% energy cost savings and up to 40% reductions in buildings' carbon footprints while improving occupant comfort. The company sells solutions across sectors including offices, hotels, retail, grocery stores, and airports, and recently launched a product specifically for multi-site retailers. BrainBox AI plans to expand global deployment by increasing automation of its models and strengthening cloud computing infrastructure. The company works with research partners including NREL, IVADO, MILA and McGill University to advance its technology. BrainBox AI was founded in 2017, is headquartered in Montreal, and employs over 150 people. BrainBox AI develops AI-driven HVAC and autonomous building technology that optimizes energy use, occupant comfort, and carbon emissions for commercial real estate owners. The company reports energy cost savings up to 25% and carbon footprint reductions up to 40%. Its technology has been installed in over 100 million square feet across 70 cities and more than 20 countries, and this year it added installations in over 180 buildings and five additional countries, including deployments in New York City and Milan. BrainBox AI works with clients across offices, hotels, retail, grocery stores and airports, and partners with research institutions including NREL, IVADO, MILA and McGill University. Headquartered in Montreal, the company has a workforce of over 150 employees and is positioning its product for continued international expansion. BrainBox AI combines deep learning, cloud-based computing and autonomous decision making to enable HVAC systems to operate autonomously and in real time. Its solution can generate up to a 25% reduction in total energy costs, a 20–40% reduction in carbon footprint and a 60% increase in occupant comfort. The company has commercial traction: in the 11 months since its May 2019 market launch it installed its self-learning technology in over 15 million square feet across 15 cities on three continents. BrainBox AI supports real estate clients across sectors including offices, airports, hotels, multi-residential, long-term care, grocery and retail. The company has a workforce of over 50 employees and positions its product as a no-capex, minimally disruptive way for building owners to cut energy costs. The recent fundraise will be used to further deploy the technology across North America and expand into additional markets.

Participated · Equity · Nov 2022

RainStick is a Kelowna-based company building a smart, water-efficient shower that has attracted attention across the consumer-electronics and kitchen-and-bath industries. Its flagship product earned the Best of Innovation honor at CES, the Best of Impact Award at the Kitchen and Bath Industry Show, and the Best Collection Award at Toronto’s Interior Design Show. The company’s profile has been further elevated through a partnership with HGTV personalities Drew and Jonathan Scott (The Property Brothers). Founder Alisha McFetridge credits national programs like Sustainable Development Technology Canada for both grant funding and valuable introductions that aided product refinement. With staff, consultants, and manufacturing partners spread across Canada, RainStick maintains its headquarters in Kelowna while frequently showcasing the product at major trade events. The firm has now supplemented public support with a $3 million equity raise to accelerate commercialization. No revenue or user figures were disclosed in the article.