Canadian FinTech, Healthtech and IoT companies are all receiving new funding. Here’s the latest on who raised how much, from whom.
Cyptocurrency startup Vogogo raises $12.5 million Series B
Calgary-based Vogogo, a payment processing platform with integrated risk management and compliance, raised $12.5 million in their Series B round of financing. The bought deal offering was led by Salman Partners Inc., Clarus Securities Inc., and Beacon Securities Ltd.
Vogogo’s proprietary technology platform provides comprehensive risk management, security, compliance and payment services. The company enables cryptocurrency businesses to transact seamlessly with traditional banks and Fiat currencies across the world.
“This latest financing enables us to further accelerate the global roll-out of our platform,” said Geoff Gordon, CEO of Vogogo. “The crypto industry is evolving incredibly quickly and Vogogo has developed sophisticated solutions that solve some of the largest problems crypto businesses are facing when looking to grow in global markets.”
Gladius Pharmaceuticals raises $4.1 million Series A
Montreal-based Gladius Pharmaceuticals, a biotechnology firm dedicated to developing drugs to treat multi-drug-resistant bacterial infections, closed $4.1 million Series A funding. The round was led by Lumira Capital Investment Management via its Merck Lumira Biosciences Funds, with participation from Quebec’s Fonds de solidarité FTQ and SR One. SR One participated with funds from the GlaxoSmithKline (GSK) Canada Life Sciences Innovation Fund.
The funding will be used to expand on discoveries by Dr. Larry Sutton, who pioneered dual mechanism small molecule antibiotics that combine antibiotic functionality with activity against one of the main causes of antibiotic resistance, beta-lactamase inhibition.
“It is estimated that antibacterial resistance causes 23,000 deaths annually in the United States,” said Daniel Hétu, MD, Managing Director of Lumira Capital. “The Gladius technology is demonstrating strong promise to restore treatment options for resistant Gram-negative infections which have become a global challenge.”
Mojio among investments in Amazon’s Alexa Fund
Amazon’s Alexa Fund, a newly-launched fund that includes up to $100 million in investments to support developers, manufacturers, and startups who are passionate about creating experiences designed around the human voice, will include Vancouver-based Mojio among its first seven investments.
Mojio is a provider of connected car solutions, and the company’s device connects to a vehicle’s OBD-II port and extracts driving performance, on-board systems status, and other diagnostic data. They will be receiving an undisclosed amount from the fund.
The Alexa Fund is open to anyone with an innovative idea for how voice technology can improve customers’ lives. Alexa Fund investment decisions are made based on the potential for unique or novel applications of voice technology that leverage the Alexa Skills Kit or the Alexa Voice Service.
“Mojio is activating the connected car economy by delivering contextual insights that unleash a new wave of driving experiences,” said Jay Giraud, CEO of Mojio. “The possibilities from remote vehicle monitoring to route optimization will allow people to use Alexa’s convenient voice controls to interact with their Mojio-enabled car in a seamless and ambient way.”