Participated · Series B · Jul 2017

Flybits provides a platform that uses data and machine learning to deliver contextualized, personalized experiences and product recommendations for banks and other financial services providers. Its typical deployments surface targeted offers such as loans, credit cards, loyalty programs and other upsells tailored to individual customers. CEO and co-founder Hossein Rahnama says the company aims to help banks act as trusted "data vaults" that can enable services beyond traditional financial products. Flybits plans to deploy AI and machine-learning patents it has amassed and to build a data marketplace for banks, fintechs and other data providers to partner and create services. The company announced a $35M Series C and had previously raised around $15M; valuation was not disclosed. Its focus remains on enabling incumbents to catch up with digitally native competitors through hyper-personalization and contextual engagement. Flybits provides a context-as-a-service platform that helps enterprises navigate data intelligence and contextualization to create and deliver personalized customer experiences that drive digital engagement. The company is led by Founder and CEO Dr. Hossein Rahnama and is based in Toronto, Canada. Since launching in 2013, Flybits has raised a total of $14M. The platform is positioned to reduce complexity for enterprises seeking to use contextual data to personalize interactions. Flybits plans to use new funding to ramp up sales efforts in the United States and Europe, reinforce its existing global presence, and expand its product and engineering teams. The company’s near-term focus is growth and commercial expansion rather than disclosed operating metrics. Flybits offers a SaaS-based platform that enables consumer-focused enterprises to expand and manage highly personalized mobile experiences. The platform supports iOS and Android devices and integrates with emerging Internet-of-Things technologies. Flybits serves customers in retail, transportation, banking and event management across North America and Europe. The company is led by Founder and Chief Product Officer Dr. Hossein Rahnama and is based in Palo Alto, CA and Toronto, Canada. Financially, Flybits completed a second closing of its Series A, raising $4.75M. The company plans to use the funds to expand its presence in more than 21 countries. Flybits develops tools that enable predictive, context-aware computing environments for mobile, wearable and connected devices, leveraging data and sensing capabilities to customize contextual experiences. Its platform targets use cases including smarter cities, connected stadiums, smart corporate campuses, shopping malls, conference venues and fashion shows. The company was spun off from Ryerson University in 2012 and incubated its technology at the Ryerson Digital Media Zone and Vodafone Xone. Flybits is headquartered in Toronto and maintains smaller offices in London and New York. It intends to use recent funding to advance product development and pursue international growth in the United States and Europe. Financially, Flybits closed a $3.75M Series A and has raised a total of $4.05M to date.

Participated · Equity · Nov 2012

Sidense Corp. is an Ottawa, Canada–based developer of silicon-proven embedded non-volatile memory (NVM) intellectual property (IP). Its NVM IP is designed to enable a wide range of electronic products powered by complex system-on-chip (SoC) semiconductors. Clients include tier 1 semiconductor companies. The company is led by President and CEO Xerxes Wania. Sidense recently won a patent battle against competitor Kilopass Technology Inc. Financially, the company received $1.1M in financing led by Espresso Capital Partners with participation from Trellis Capital Corp. Sidense Corp. is an Ottawa, Canada-based developer of Logic Non-Volatile Memory (LNVM) one-time programmable (OTP) memory IP cores. Its LNVM-OTP IP is designed for use in standard-logic CMOS processes. Customers use the company’s OTP for analog trimming, code storage, encryption keys such as HDCP and WHDI, RFID and Chip ID, medical and automotive applications, and configurable processors and logic. The company is led by Andrew Abouchar (Chairman of the Board) and Xerxes Wania (CEO and President). Sidense raised an additional $5.6m in Series C funding and intends to use the proceeds to develop new products. Investors in the round include Ontario Emerging Technologies Fund, Tech Capital Partners, VentureLink, and Vertex Venture Capital. Sidense Corp. is an Ottawa-based provider of memory IP for use in standard-logic CMOS processes. The company offers embedded non-volatile memory (NVM) products for use in complex integrated circuits and systems-on-chips (SoCs). Semiconductor and electronic systems companies incorporate Sidense memory IP into SoCs found in consumer, communications, industrial, automotive and medical products. On November 5, 2010 Sidense raised $5m in a Series B venture capital financing. The round was led by VentureLink Funds of Canada, with participation from existing partners Tech Capital Partners and Trellis Capital of Canada and Vertex Venture Capital of Israel. The proceeds will be used to expand development of embedded NVM products and to enhance the company’s sales and marketing efforts.

Participated · Equity · Jul 2011

Locationary provides mobile and web solutions to manage local business places information, offering a free platform, specialized tools, and access to data updates from a global community. Publishers and business owners can collect, enhance, and distribute local business data or synchronize proprietary data with authorized partners. The company maintains an extensive federated database of more than 25 million profiles across 190 countries in over 40 languages. Led by CEO and Founder Grant Ritchie, COO Dan Servos, and CTO Andrew Radin, Locationary plans to develop and launch a cloud-based local data management system. The company secured $2.5M in funding to support development and launch of that cloud-based system.