The Deal Digest (September 2024)

Welcome to the September edition of The Deal Digest, a monthly briefing powered by CVCA Intelligence!

Each month, we bring you details about the industry's latest transactions and provide a carefully crafted snapshot of the Canadian VC and PE landscape.

CVCA members are privy to a more detailed, timelier digest of transaction details, delivered directly to their inboxes every Monday morning. As a member, you'll not only stay ahead with our comprehensive deal listings but also enjoy a suite of exclusive benefits including special event invitations, access to private networking groups, discounts at partner events, the latest job opportunities, and much more.

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Access the full report here:

https://central.cvca.ca/report-the-current-state-of-seed-investing-in-canada

🎉 New CVCA Members

Blackstone

Pyramine Investment

Emmertech

Weathervane Investments

Venture Capital Deals

Versant Ventures and Novartis Launch Borealis Biosciences With $150 Million in Funding

• CVCA Members: Versant Ventures

Viggle AI Closes $26-Million CAD Series A to Expand AI-Powered Video Generator

• CVCA Members: Two Small Fish Ventures

Uni-One Closes $10-Million CAD Series A as Foodtech Startup’s Revenue Run Rate Surpasses $100 Million

• CVCA Members: Celtic House Venture Partners

New School Foods Lands Big Fish as Ikea Joins Returning Investors in $8-Million CAD Seed Extension

• CVCA Members: Protein Industries Canada

BC Chopstick Recycling Startup ChopValue Picks up Additional $4 Million CAD

• CVCA Members: InBC Investment Corp.

Aplantex Closes $2.8m CAD Round of Financing to Accelerate its Development

• CVCA Members: Investissement Québec

Suppli Secures Seed Financing

• CVCA Members: BDC Capital (Canada)

Round13, Nvidia-Backed Wombo Announces $12.2-Million CAD to Launch More Generative AI Apps

• CVCA Members: Round13 Capital

GSTS Closes Series A Funding Round for Global Commercialization of OCIANA Platform

• CVCA Members: Fonds de solidarité FTQ , Export Development Canada | Exportation et développement Canada

Näak Secures $5M in Series A Funding to Accelerate Growth and Expand Sustainable Nutrition Offering

• CVCA Members: Investissement Québec

Carbon6 Acquires American Firm Junglytics to Provide AI Tools for Amazon Sellers

• CVCA Members: White Star Capital

Transit Platform Spare Raises $42 Million Series B Led by Inovia

• CVCA Members: Kensington Capital Partners Limited , Inovia Capital , Nicola Wealth Management Ltd.

Amplitude Ventures, Gates Foundation Lead Radiant Biotherapeutics’ $35-Million USD Series A

• CVCA Members: Amplitude Ventures , BDC Capital (Canada) , FACIT

Terramera Spinout Catalera Secures $8.8 Million CAD in First Series A Tranche

• CVCA Members: FCC / FAC

IOT Disaster Restoration Tech Startup Kahi Raises $2.3 Million Led by BDC Capital Seed Venture Fund

• CVCA Members: BDC Capital (Canada)

Optimotive Secures $2 Million Funding to Launch Next-Gen Outdoor Robots, Redefining Construction Automation

• CVCA Members: Garage Capital , Version One Ventures

Ripple Ventures Leads $1.8M Investment in Trade Credit Startup NetNow

• CVCA Members: Ripple Ventures

Ecomtent Closes Pre-Seed Funding for its AI-Powered Content Generator

• CVCA Members: Techstars , MaRS Investment Accelerator Fund

Sperri Set to Disrupt U.S. Market After Closing Millions in Investment & Launching on Amazon with New Plant-Based Meal Replacement

• CVCA Members: Invest Nova Scotia , Nadarra Ventures

ApplyBoard Gets $100M Facility to Fuel Global Expansion

• CVCA Members: RBCx

Nomic Secures $42M in Oversubscribed Series B to Expand Access to Protein Profiling

• CVCA Members: Amplitude Ventures , Real Ventures

Motion Closes $30M USD Series B in Bid to Become “Command Centre for Creative Strategists”

• CVCA Members: Inovia Capital

Find Therapeutics Announces the Closing of a Convertible Note Financing with Investissement Québec

• CVCA Members: CTI Life Sciences Fund , adMare BioInnovations , Investissement Québec

Two Years after Pivot to International Financial Management, Loop has Processed over $1 Billion in Payments

• CVCA Members: Graphite Ventures , Luge Capital

Microsoft Among Corporate Investors Backing Cyclic Materials’ $71-Million CAD Series B

• CVCA Members: BDC Capital (Canada)

Rebelstork Secures $24.45 Million CAD Series A to Bolster Tech and Operations

• CVCA Members: Golden Ventures

Vertical Farming Scale-Up, Vision Greens, Raises $18M to Expand Operations and Meet its Market Demand for the World's Best Lettuce

• CVCA Members: FCC / FAC

Ayrton Energy Raises $9.1 Million CAD in Bid to Expand Clean Hydrogen Solution in the US

• CVCA Members: The51 , BDC Capital (Canada)

a16z Leads Scribenote’s $8.2-Million Seed Round to Boost AI-Powered Writing Tool for Vets

• CVCA Members: Inovia Capital , Velocity Fund

Two Years after Pivot to International Financial Management, Loop has Processed over $1 Billion in Payments

• CVCA Members: Graphite Ventures , Luge Capital

With Nmbr, Former Humi Execs Want to Power Embedded Payroll Products Across Canada

• CVCA Members: Panache Ventures , Golden Ventures , Luge Capital

The Curling Group Secures US$5 Million in Seed Funding to Grow the Sport of Curling; Announces Board Of Directors

• CVCA Members: Relay Ventures

Bloks.app Secures US$1.5M in Seed Funding Led by Storytime Capital and Mistral Venture Partners

• CVCA Members: Storytime Capital , MaRS Investment Accelerator Fund

Private Equity Deals

Onex Partners to Acquire Farsound

• CVCA Members: Onex

Onex Goes for Majority Stake in Cartridge Packaging Biz Fischbach

• CVCA Members: Onex

CDPQ and the Fonds De Solidarité FTQ Make Additional Investment in Énergir to Accelerate its Decarbonization

• CVCA Members: Caisse de dépôt et placement du Québec (CDPQ) , Fonds de solidarité FTQ

Kollide Announces Expansion Plans Following Funding Round

• CVCA Members: Investissement Québec

Sedgwick Announces Strategic Partnership with Altas Partners

• CVCA Members: Altas Partners

Hub International Enhances Commercial and Personal Insurance Capabilities with Acquisition of Felton Et Associes Assurances in Quebec

• CVCA Members: Altas Partners

Courchesne Larose and Veg-Pak Join Forces

• CVCA Members: Fondaction , Roynat Capital , Fonds de solidarité FTQ , Sagard Private Equity Canada

CDPQ Launches a Platform Focused on U.S. Forestland and Invests in Chinook Forest Partners

• CVCA Members: Caisse de dépôt et placement du Québec (CDPQ)

Vertu Capital Completes Strategic Investment in Market Leading Corporate Education Platform LumiQ

• CVCA Members: Vertu Capital

Exits

Powerfleet Announces Strategic Acquisition of Fleet Complete

• CVCA Members: Ontario Teachers' Pension Plan

Fundraising

MKB Raises $145 Million for Third Cleantech Fund Mostly from Government Agencies

Northleaf Infrastructure Capital Partners IV reaches US $1.12B

Northside Ventures Closes First Early-Stage VC Fund at $15 Million CAD

Luge Capital Closes Second Early-Stage FinTech Fund at $96 Million CAD

Teralys Capital Raises Largest-Ever $475 Million Venture Capital Catalyst Initiative Fund

Pangaea Ventures Closes $115-million CAD Impact Fund to Back Sustainability-Focused Hardtech Solutions

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