Participated · Equity · Oct 2024

Wyvern builds and operates small satellites that capture high-resolution hyperspectral imagery, allowing users to detect spectral signatures invisible to conventional sensors. Its data products serve defence, agriculture, forestry, mining, energy, and environmental-monitoring customers, helping identify threats, monitor port activity, and protect critical infrastructure such as wildfire-prone regions. The company emphasizes the strategic value of hyperspectral data for Canada’s intelligence and sovereignty needs. Wyvern is assembling a growing fleet of satellites to expand coverage and revisit rates. By focusing on compact, cost-effective spacecraft, the startup aims to deliver affordable, timely hyperspectral insights to both commercial and government clients. Financial details such as revenue or user counts were not disclosed in the article, but Wyvern recently attracted new capital from NordSpace Ventures to accelerate its mission expansion.

Participated · Series A · Jul 2024

PulseMedica is developing an ophthalmic medical-device platform that uses 3D computer vision, real-time tracking, and femtosecond laser technology for non-invasive, automated imaging and treatment of eye floaters and other vitreoretinal disease. The company is advancing a floater imaging device and is conducting laser safety and feasibility studies to enable a first-in-human clinical trial. Recent funding is being used to accelerate clinical validation, support ongoing studies, and expand the technical and business teams in preparation for commercialization and regulatory approvals. Since 2020 PulseMedica has raised over CA$16M, including a CA$6.5M investment from a multinational strategic in 2023; it announced CA$12M raised to date as part of its pre-Series A financing. Product development progress includes seven prototype devices and the filing of 14 patents. PulseMedica is attracting interest from potential lead investors for an upcoming Series A round. PulseMedica is a University of Alberta spinoff building a fully automated platform that images the eye, determines treatment locations, and delivers therapy using lasers instead of injections. The company aims to demonstrate the safety and accuracy of its imaging and laser delivery systems through a first clinical trial beginning in June. That trial will test the system on 10–15 Edmonton patients with diabetic retinopathy. PulseMedica is finishing device build and pursuing Health Canada approvals ahead of the study, and has recently expanded its team and established a medical advisory board of ophthalmologists. The startup is working out of the MNP Tower in downtown Edmonton and plans to move to a larger space this summer. Financially, PulseMedica raised an oversubscribed $2.6M seed round and previously raised $1M in a 2020 pre-seed plus roughly $1M in grants. Once it accumulates clinical data the company expects to pursue a Series A targeting about US$10M, with a goal of making the technology available to clinicians by 2024.