Today in funding: Enedym, Side Door, Empower, FREDsense, Konfidis, 3D Planeta

Six Canadian tech startups have recently secured funding. Here’s the latest on who raised money, how much, from whom, and what they plan to put the new capital toward.

Enedym secures $15 million to accelerate development of motor

Hamilton transportation electrification startup Enedym has raised $15 million CAD in financing from an international group of strategic investors. The round, which is Enedym’s second to date, was supported by a group of investors that includes P&A Paletta Giving, TRIO Capital Group, Napino Group, KWG Capital, and Pathfinder Asset Management.

Enedym develops next-generation electric propulsion and electrified powertrains. The company plans to use this funding to ramp up its operations, grow its team, and accelerate the development of its patented electric motor tech.

Side Door raises $3.75 million CAD seed round

Halifax-based startup Side Door, which offers an online marketplace for live entertainment, has secured about $3.75 million CAD ($3 million USD) in seed funding. The round was led by Vancouver’s Rhino Ventures, and saw particulation from Upside Partnership and other undisclosed investors.

The startup was co-founded by Juno Award-winning artist Dan Mangan and music industry entrepreneur Laura Simpson in 2017. Side Door aims to allow artists and fans to create, present, and attend shows anywhere and anytime, providing nearly 5,000 artists and 2,000 hosts with “the tools to produce and ticket intimate shows in non-traditional performance spaces,” such as backyards, bookstores, warehouses, and living rooms.

The startup traditionally catered to in-person performances but pivoted to offering virtual events during the pandemic. In 2020, Side Door said it saw ticket sales increase twelve-fold, a 150 percent increase in artist signups, as the company also tripled the size of its team. Side Door plans to use capital to launch a widespread marketing campaign to increase its user base and brand awareness in the United States.

Empower secures $3 million

Montréal’s Empower has raised a $3 million CAD seed round from the Government of Québec through its agent Investissement Québec, as well as BDC Capital and PME Montréal.

Founded in 2011, Empower aims to make marketing more simple, efficient, and affordable through its artificial intelligence (AI)-based digital marketing assistant for small to medium-sized business owners. According to the startup, the new capital enables it to develop its tech platform and support its international expansion.

FREDsense secures $2.5 million from BDC

Calgary-based biotech startup FREDsense Technologies has closed a convertible debenture valued at $2.5 million CAD from BDC Capital’s Cleantech Practice.

Founded in 2014, FREDsense develops tools for water quality analysis. The company intends to use the fresh financing to support its sensor expansion plans and help develop new water quality testing solutions.

Konfidis raises $2 million for real estate platform

Toronto’s Konfidis has raised $2 million in seed financing through a non-brokered private placement supported by undisclosed investors. The startup referred to the round as “oversubscribed.”

Founded in 2018, Konfidis is a full-service realtor brokerage and tech provider for Canadian residential real estate investors. The company said the new funding will bolster its growth strategy and enable Konfidis to enhance its investment platform and tenant marketplace.

Fredericton’s 3D Planeta raises $1 million seed round

Fredericton-based mapping startup 3D Planeta has secured $1 million CAD in seed funding. The round was supported by Halifax’s Concrete Ventures and the New Brunswick Innovation Foundation.

Founded in 2018, 3D Planeta offers 3D mapping and predictive analysis software. The startup said the new capital will enable it to complete the build of NAVEC, its SaaS platform, and support its plan to go-to-market by early 2022.

UPDATE (07/12/21): This story has been updated to include responses from Enedym, Empower, FREDsense, and 3D Planeta.

Feature image from Side Door

Josh Scott

Josh Scott

Josh Scott is a BetaKit reporter focused on telling in-depth Canadian tech stories and breaking news. His coverage is more complete than his moustache.

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