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CBIV surpasses $135 million CAD in final close to back women, children-focused healthtech startups
Two years after its launch, Toronto-based Cross-Border Impact Ventures has closed its first fund, securing over $90 million USD ($135 million CAD) in total commitments.
Through its Women’s and Children’s Health Technology Fund, the women-led, impact-focused venture capital firm invests in tech startups across North America and Europe that address the health needs of women, children, and adolescents or improve health systems.
(BetaKit)
Swift Medical raises US$8M to advance AI-driven system for wound care
Virgo Investment Group and BDC’s Women in Technology fund co-led the investment round in the Toronto-based startup. Both are previous investors, including in a Series B round that raised US$35 million in 2021.
Swift’s Skin and Wound tool tracks patient wounds—including in hospitals, nursing homes and home care—and uses artificial intelligence on smartphone photos to identify high-risk cases and monitor progress.
Femtech Canada officially launches network to support women’s health innovation
A Canadian network focused on supporting technology companies addressing women’s health has officially launched.
Femtech Canada aims to support companies that cater to the health needs of women, girls, non-binary individuals, trans people, and those assigned female at birth. After just over two years of operating in stealth, Femtech Canada has now launched with over 120 Canadian startups, scale-ups, industry partners, investors, accelerators, and service providers in its network.
(BetaKit)
Amazon Pharmacy testing out medication consulting service with One Medical primary care providers
As Amazon builds out its healthcare business and expands its reach into hybrid primary care, pharmacy operations and virtual care, there are promising opportunities to integrate these services to offer a better healthcare experience.
A year after its big-ticket acquisition of One Medical, Amazon’s pharmacy business is piloting a program to provide pharmacy consultations to One Medical primary care providers with a specific focus on high-risk and complex patients among the older senior population. The pilot started in the fourth quarter of last year, executives said.
TIAP partners with OBIO to open applications for healthtech funding stream
Health science accelerator Toronto Innovation Acceleration Partners has opened applications for its healthtech funding stream aimed to help companies with intellectual property management, company creation, or technology de-risking.
In partnership with the Ontario Bioscience Innovation Organization critical technologies initiative, this program stream is offering up to $200,0000 to small-to-medium sized business ( applicants in the health science sector that use 5G, blockchain, cybersecurity, ethical artificial intelligence, quantum computing, or robotics.
(BetaKit)
Tech firms court growing demand for male fertility services
Growing awareness about male infertility and shifting cultural attitudes are fueling demand among tech startups offering men at-home fertility services.
Why it matters: Fertility care has historically been marketed toward women, but male fertility is a growing business amid mainstream alarm over falling sperm counts and interest in what screenings may indicate about a man’s overall health.
(Axios)
Interest rates remain unchanged (for now). What does that mean for Canadian tech in 2024?
Though it maintained interest rates on January 24, the Bank of Canada signalled it is beginning to contemplate cuts.
Canada’s tech sector could be poised for a recovery if interest rates do drop, but the playbook is much different this year for founders and investors, cautioned several industry insiders speaking to BetaKit.
The fastest hiking cycle on record, the Bank of Canada’s rate increases over the last two years battered the white-hot tech sector as deal flows slowed and valuations dropped. With those rates unchanged (for now), here’s what Canadian tech should expect in 2024.
(BetaKit)
CardioSignal scores $10M for heart disease detection technology
Tech-enabled heart disease detection company CardioSignal announced it secured $10 million in Series A funding, bringing its total raise to $23 million.
CardioSignal uses gyroscope and accelerometer motion data via smartphone sensors to analyze precordial micro-vibrations caused by cardiac motion. The company will use the funds to perform additional clinical studies on its technology and expand its commercial efforts.
Vinod Khosla headlines CIX 2024 investment summit
Elevate, the nonprofit behind the Toronto tech festival of the same name, will host the first CIX investment summit this March after acquiring the brand.
Founded in 2008 as the Canadian Innovation Exchange, the annual conference aimed to showcase and award Canada’s most promising early-stage and scaling startups.
Elevate has also announced one of its keynote speakers for CIX 2024: Vinod Khosla, co-founder of Sun Microsystems and founder of Khosla Ventures, which has invested in over 1,000 startups, including Canadian tech companies Deep Genomics and Blockstream.
(BetaKit)
Off the cuff: Kanata startup’s smart wristband tracks blood pressure, other vital signs
An Ottawa startup says it is seeking regulatory approval for a wearable device that can measure vital signs such as blood pressure, heart rate and body temperature with medical-grade accuracy.
The wristband is the brainchild of researchers at Healthsign, a company founded by Ottawa entrepreneur Atul Garg that has spent the past four years developing the technology.