Two Canadian startups have announced fresh funding rounds to fuel their growth. Here’s the latest on who raised how much, from whom, and what they’ll be putting the new funds toward.
Winterlight Labs raises $5.6 million CAD in Series A funding round
Toronto-based healthtech company Winterlight Labs announced that it has raised $5.6 million CAD in Series A funding led by Hikma Ventures.
The round also saw participation from First Star Ventures, Pacific Health Ventures, Grey Sky Venture Partners, and other undisclosed investors.
“Our ultimate goal is to help patients get better sooner by objectively measuring response to therapy.”
Winterlight is developing a proprietary artificial intelligence (AI) technology that combines computational linguistics, cognitive neuroscience, and machine learning to help healthcare professionals assess patients’ cognitive health from short snippets of speech on a tablet computer.
The tablet-based technology aims to quickly and accurately detect cognitive and mental disorders, such as dementia and aphasia, as well as monitor the progress of treatments. Winterlight said the financing will be used to extend its technology to additional disorders, such as schizophrenia and multiple sclerosis, as well as additional languages.
“Our ultimate goal is to help patients get better sooner by objectively measuring response to therapy in the real world through speech,” said Winterlight Labs co-founder and CEO Liam Kaufman. “The technology our team is creating will reshape the way healthcare systems track, screen for and assess the effectiveness of treatments for various central nervous system diseases.”
Casca debuts with $4.66 million CAD in venture funding
Vancouver-based footwear startup Casca announced that it has received $4.66 million CAD ($3.5 million USD) in venture funding led by Khosla Ventures and Shopify founder Tobi Lutke. The startup plans to open its first retail space in Vancouver later this month.
“At Casca, our vision is to set a new standard for the future of footwear,” said Casca co-founder Braden Parker.
Casca also debuted its Avro sneaker model, which features a custom 3D-printed insole designed to create a more precise fit and comfort. Avro can be customized through Casca’s iOS or Android app and is printed according to arch and foot measurements. The shoes and custom-fitted insoles are then delivered to the customer within 14 days.
“At Casca, our vision is to set a new standard for the future of footwear,” said Casca co-founder Braden Parker. “A big part of this is the way we manufacture. Casca challenges traditional manufacturing with a fresh approach that is customized, automated, and decentralized.”
Casca said its use of 3D-printing technology increases efficiency and reduces waste. The startup said it hopes to manufacture 100 percent custom-fit shoes by 2029.
Image courtesy Casca Facebook Page
