A couple of weeks after Startup TNT held the finale for its fifth summit, the group has revealed that more than $1 million was raised for startup participants.
Across Edmonton, Calgary, and Saskatewchan, 10 side deals were made in addition to the three winners. The majority of the angel investments went to Saskatchewan startups with $391,500; followed by Calgary startups receiving a collective $342,000 and Edmonton startups receiving a collective $313,000.
The companies that secured capital are:
- 10Adventures, Calgary
- Fidu, Saskatoon
- KnowHow, Calgary
- Luxsonic, Saskatoon
- MemoryKPR, Saskatoon
- Scription, Edmonton
- Spot Dog Walkers, Calgary
- Supracut, Saskatchewan
- Yr Plans, Calgary
- Zero Point Cryogenics, Edmonton
Startup TNT declined to breakdown how much each company secured individually, but noted that five of the deals were over $100,000 each.
Summit V was held on June 23 with the three winners after the months-long, cross-city pitch competition being Luxsonic in Saskatchewan, YR Plans in Calgary, and Scription in Edmonton.
Luxsonic is developing immersive, AR and VR technology for the healthcare space. The startup provides VR video production services and works with healthcare clients to develop VR software for their specific needs.
Yr Plans was founded in 2019, and gives users the ability to redirect part of their employer contribution match to their student loan repayment rather than to their retirement savings plan. In 2021, Yr Plans partnered with Sun Life Financial to give select Sun Life clients access to its employer-assisted student loan repayment platform.
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Scription works with maintenance companies to offer personalized warranties to equipment operators, based on individual equipment performance. The startup was founded in 2022 by co-founder Justin Larocque-Villiers.
This year marks the third anniversary of Startup TNT. The semi-annual summit that helps raise angel capital for startups comes in addition to local, weekly meetups to connect entrepreneurs and investors.
As of 2021, the group had helped to raise over $5 million for 34 startups since its creation, according to its 2021 annual report. The group boasts a more than 200-person investor network.
With that momentum under their belt, Startup TNT co-founders Zack Storms and Tim Lynn revealed earlier this year that they plan to raise a Startup TNT venture fund.
Dubbed TNT Capital, Storms and Lynn are currently in the process of securing financing. The pair teased the fund on-stage at Summit V, noting hopes to secure $5 million in an effort to continue investing in Startup TNT companies in an institutionalized way.
Recently, Startup TNT has also secured around $1.5 million in government funding to support its programming. That dollar amount includes $750,000 form provincial-government-backed Alberta Innovates and $780,000 from the federal government’s regional development agency (RDA) PrairiesCan.
In addition to its networking and summits, Startup TNT also runs an investor training program, and specialized summits for cleantech and life sciences.
