Lots of east coast love in this addition of ‘Today in Funding’, with rounds being closed in both Halifax and Moncton. Here’s the latest on who raised how much, from whom.
Dash Hudson raises $1 million seed round
Halifax-based Dash Hudson has announced a $1 million initial close to its seed round, led by Innovacorp with support from GoInstant co-founders Jevon MacDonald and Gavin Uhma. Currently in negotiations on a second close, Dash Hudson had previously raised a $400,000 round of angel funding last summer.
The mobile commerce company allows brands to create shoppable lifestyle images that can be shared on Instagram. Instagram users that engage with the photos can then instantly shop for the featured items.
“Our content has reached an audience of over three million since we launched the platform in December,” said Thomas Rankin, CEO of Dash Hudson. “The focus on featuring brands in beautiful, organic lifestyle images that can be shopped has created levels of engagement and conversion that we did not expect so early on.”
Dash Hudson is currently available on iPhone, with an Android release coming later this year.
Toronto-based Vanhawks has raised a $1.6 million round led by Real Ventures. The startup will use the funds to help deliver its Valour smart bike, which blew past its initial Kickstarter goal to raise $820,000.
Vanhawks is also notably a former FounderFuel and Y Combinator alum.
Moncton-based RtTech Software has announced the close of a $3 million Series A financing round, led by McRock Capital, with follow-on funding from the New Brunswick Innovation Foundation (NBIF). RtTech Software develops operational intelligence applications for industrial facilities.
“This funding could not have come at a better time as we look to capitalize on the exploding Industrial Internet markets. We are adding features to our flagship industrial software apps that will leverage cloud-based technology and will make our products more widely accessible and affordable to our clients”, said Pablo Asiron, CEO of RtTech Software.
McRock Capital is an Industrial Internet of Things-focused VC firm. As part of this financing, Scott MacDonald and Whitney Rockley, the co-founders of McRock, have both joined RtTech’s Board of Directors.
Ottawa-based Versature has announced a $675,000 funding round, led by a local angel investor who wishes to remain anonymous. The company provides hosted telephone systems for SMBs, and counts Shopify as one of its customers.
“We believe this highly fragmented industry is ripe for consolidation and Versature intends to be a leader in this space,” said Versature CEO Paul Emond.
Versature says it will use the money to improve marketing, expand staff and pursue potential acquisitions.