Today in funding: Gymtrack, Clearwater Clinical, Semios, Acuva Technology

Gymtrack

BDC Capital has likely had a busy past few weeks with all of the startups they’re currently funding on this list. Here’s the latest on who raised how much, and from whom.

Gymtrack and Clearwater Clinical receive investments from FedDev Ontario

Two Ottawa-based companies are receiving a combined total of $1.45 million in funding. Gymtrack, which provides a virtual coaching platform, will receive up to $804,800 to bring its fitness tracking system to market. Clearwater Clinical, which uses mobile tech to create alternatives to “traditional technologies”, will receive up to $650,000 to improve its mobile endoscopy tool and increase its marketing and sales activities.

“Governments and companies that do not embrace a culture of innovation risk being left behind,” said Navdeep Bains, the Minister of Innovation, Science and Economic Development. Bains is also responsible for the Federal Economic Development Agency for Southern Ontario. “Today’s announcement is another clear example of our commitment to support these innovative companies here in Ottawa and, indeed, across the country.”

The funding is coming from FedDev Ontario’s Investing in Business Innovation initiative, and FedDev will also leverage up to $2.95 million from BDC capital and angel investors.

Semios raises $8 million in private equity financing

Vancouver-based Semios, a provider of real-time agricultural information and precision pest management tools, announced it has closed an $8 million financing with private equity individuals from the agtech community, with assistance from Haywood Securities.

The company will use the funding to expand sales, services, and R&D efforts. “We are at a pivotal point in the company’s growth with more than 50,000 sensors deployed and over 10,000 acres under management,” said Michael Gilbert, founder and CEO of Semios. “Adoption of our platform is accelerating and our growers are asking for more features and services. With this new level of investor expertise and confidence, we’ll be able to expand the platform and accelerate the growth of our business.”

Semios’ precision pest management tools combine remote access to real-time field conditions and acre-by-acre metered delivery of inputs, and the company said its IoT products enable improved deployment of pheromones, frost prevention, and optimization of irrigation schedules.

Acuva Technologies raises $850,000

Vancouver-based cleantech company Acuva Technologies has raised a seed round of $850,000 for its water purification solution from BDC Capital, Vancouver-based angel investors, and the entrepreneurship@UBC (“e@UBC”) Seed Fund.

The company is working on commercializing a new microbial water purification system called Arrow that is a low-power and low-maintenance design leveraging emergent UV-LED technology, which was developed at the University of British Columbia.

“Acuva’s innovative UV-LED water purification system is designed to provide potable water in a compact, low-power, low-maintenance, cost-effective system for mobile and off-grid applications,” said Acuva CEO Manoj Singh. “Our initial target markets are North American recreational boats, vehicles and cottages where we already have early sales, but our ultimate goal is to reduce the cost of our technology in order to bring it to developing country households by 2020.”