
Velocity Fund
280 Joseph Street Suite 2000, Kitchener, Ontario, N2G 4Z5, Canada
Overview
The Velocity Fund is a grant program for startups that offers $390,000 in equity-free funding each year to local startups through its Velocity Fund $25K and Velocity Fund $5K programs at the University of Waterloo. The Velocity Garage incubator is home base to 75+ early-stage startups building technology-based businesses in the heart of Waterloo Region. Velocity Start is workspace on-campus at the University of Waterloo for people who want to learn about entrepreneurship and collaborate with like-minded people. Resources include lounge and workspace, booking space, weekly workshops, and startup coaching. Velocity Science is a partnership between Velocity and the University of Waterloo Faculty of Science, providing students interested in building a science startup with the right tools and resources to initiate and develop world-class science companies. The Velocity Residence provides aspiring entrepreneurs living in Waterloo Residences with the opportunity to collaborate and work on projects they are passionate about.
- Total investments
- 5
- Lead investments
- 0
- Investments · 12mo
- 1
- Active investors
- 2
Sector focus
- Business Development
- Incubators
Investment portfolio
- Swish Solar
Participated · Seed · Nov 2025
Swish Solar is a cleantech startup incubated at the University of Waterloo’s Velocity program that tackles solar panel soiling with a two-part solution. Its self-cleaning nanotech film passively removes sand and snow without water or moving parts, while the companion SwishOS platform uses AI to monitor soiling and predict optimal cleaning schedules. The company says panels can lose up to 60 % efficiency due to debris, and its technology can deliver up to a 20× return on investment by recovering lost output and reducing maintenance spend. Swish Solar has already secured customers across North America and the Middle East, including pilot deployments with major operators such as Renko Energy, which plans to apply the system at 12 sites. The fresh capital will fund product manufacturing, further AI model development, and expansion of engineering and business-development teams as the startup scales toward full commercialization. Ultimately, the team seeks to make solar assets truly self-sustaining, increasing energy yield and enabling smarter, data-driven operations.
- runQL
Participated · Seed · Nov 2024
runQL is a Waterloo, Ontario-based provider of a smart query platform (integrated development environment) purpose-built to help data professionals and developers write queries faster and maintain a single source of truth. The platform supports SQL, Neo4j Cypher, Python, and query federation, and offers smart query suggestions, powerful search, version control, query certification, AI-assisted documentation, schema change resolution, and query optimization. These features are designed to build a library of trusted queries, reduce rework, and streamline query-heavy workflows. runQL works with customers across geospatial data, eCommerce, life sciences, and IoT and is used by data, product, software development, and technical sales teams. Led by CEO Rob Darling, the team includes CTO Kris Braun and engineers Emily Chalmers and Brandon Noad. The company raised $1.6M in a Pre-Seed round and plans to use the proceeds to accelerate sales, marketing, and product development.
- Scribenote
Participated · Seed · Sep 2024
Scribenote offers an AI-powered medical scribe that captures conversations during veterinary appointments and automatically generates accurate records. Its product allows veterinarians to start notes on their phone and continue from any device logged into their account. The company provides a desktop widget called “Draggy-Droppy” that lets users copy completed Scribenote records into any Practice Information Management System (PIMS) in seconds. Co-founded by Dr. Katie Gallagher, Alina Pavel, and Emily Merry, Scribenote aims to reduce documentation burden and improve veterinarian work-life balance. The company plans to use its newly raised seed capital to further develop its AI technology and expand its platform. Financially, Scribenote completed a seed financing round to support those product and growth initiatives.
- KeyOps
Participated · Seed · Dec 2022
KeyOps operates a trusted, compliant digital platform that breaks down communication barriers between life science companies and healthcare providers to enable faster, real-time decision making for medical affairs, marketing and sales teams. The platform lets customers build and manage on-demand relationships with a diverse community of key opinion leaders and medical experts. KeyOps positions itself as a digital-first alternative to traditional, time-consuming physician engagement methods by delivering fast, accurate data from a trusted provider network. The company says its product removes friction from physician engagement and supports strategic decision making for pharmaceutical commercial teams. KeyOps will use new growth funding to invest in product development and to expand into the U.S. market. The company was founded in 2020 and is based in Toronto. KeyOps operates a trusted, compliant digital platform that connects doctors and other key opinion leaders (KOLs) with life‑science companies to speed commercial decision‑making and improve responses to patient needs. The platform is positioned for medical affairs, marketing, and sales teams to build and manage on‑demand relationships with a diverse community of medical experts. KeyOps currently serves device manufacturers, laboratory testing companies, and pharmaceutical customers across multiple therapeutic areas. The company plans to use its seed funding to add engineering, product development, and sales and marketing roles over the next year, with a focus on building a U.S. commercial team. It also intends to grow its physician network across North America to broaden expert coverage. KeyOps is Toronto‑based and raised capital in December 2022 to support this expansion.
- MedMe Health
Participated · Seed · Apr 2021
MedMe Health offers a configurable, all-in-one platform that replaces fragmented tools with modular infrastructure to streamline scheduling, intake, documentation, and communication for pharmacy clinical services. Its platform supports vaccinations, minor ailments, point-of-care testing (POCT), and chronic disease management. MedMe has integrated AI tools—Clinical Assistant to transcribe and auto-fill clinical notes in real time, and Patient Concierge, a voice agent that handles refills, bookings, and follow-ups—to reduce administrative burden and improve access. Trusted by over 4,500 pharmacy locations and leading national chains, the platform has powered more than 25 million patient services to date. Founded in 2019, the company is expanding rapidly across the US and into adjacent verticals such as specialty pharmacy. MedMe received a growth-focused credit facility from CIBC Innovation Banking to expand its product suite, accelerate US expansion, extend medical billing capabilities, advance its AI roadmap, and scale operations across North America. MedMe Health operates a web-based virtual care and clinical services platform that supports pharmacy scheduling, documentation and management of clinical services at scale. The platform offers real-time patient engagement, streamlined workflows and automated documentation to help pharmacists optimize operations, build patient relationships and diversify revenue through clinical services. MedMe has facilitated over 14 million unique patient interactions at more than 3,600 pharmacies, including Rexall, Shoppers Drug Mart, Jean Coutu Group, Guardian, IDA, The Medicine Shoppe, Remedy’sRx and Pharmasave. In 2021 the platform enabled pharmacies to administer more than 544,000 flu shots, 2,220,000 COVID vaccine doses and over 155,000 COVID tests; in December 2021 alone it booked 760,000 appointments. Led by CEO Purya Sarmadi and a Y Combinator W21 company, MedMe plans to use new funding to accelerate growth, product development and global expansion. MedMe Health offers a web-based platform that supports pharmacy scheduling, documentation and clinical services at scale, with real-time patient engagement, streamlined workflows and automated documentation. The platform is designed to reduce administrative time and increase pharmacist availability for remote monitoring, direct patient communication and appointment-based services. MedMe has partnerships with national pharmacy banners including Rexall, Guardian, IDA, The Medicine Shoppe and Remedy'sRx and is actively used at more than 1,200 Canadian pharmacies. The company is positioning its product to facilitate nationwide COVID-19 immunization campaigns at Canadian pharmacies and to support pharmacies as they digitize into integrated community healthcare hubs. The announced financing is intended to support continued platform development and market expansion. CEO Purya Sarmadi framed the product as a way to help pharmacists scale operations and manage the complexity of vaccine rollouts.
Team
John A. G. Dick
Director of Concept (Interim)
LinkedInDavid Shak
CTO/Strategy Mentor