brad meikle
Enterra Feed Corp has received $5 million in funding from Canadian venture capital firm Avrio Capital. The Vancouver-based company, which develops technology to recover nutrients from recycled food waste, will use the funding to complete its first commercial-scale pilot facility in Langley, British Columbia. At full capacity, the facility will process up to 54,000 tonnes of pre-consumer food waste each year. Enterra technology was conceived in 2007 by founder and CEO Brad Marchant and Dr. David Suzuki. The financing announcement comes on the heels of a report that Aviro will launch a new $125 million fund focused on investing in innovative agriculture and food companies.
Media Armor Inc, a portfolio company of Canadian venture capital firm iNovia Capital, U.S. firm Greycroft Partners and other investors, has been bought by offline marketing specialist Nomi Inc. The financial terms of the deal were not disclosed. Media Armor, a Boston-based digital platform that enables multi-channel marketers to message consumers, has been venture-backed since 2011. Its acquisition by Nomi provides iNovia with its third liquidity event in two weeks. The Montréal-based firm this week also exited Basis Science Inc, following its acquisition by Intel Corp, and last week exited Tagman Ltd, following its acquisition by Ensighten Inc.
Clinical-stage biotechnology company Lorus Therapeutics Inc (TSX: LOR) has filed a preliminary prospectus for an overnight marketed public offering of common shares for about $17 million. The net proceeds will be used to develop the company's cancer-related drug therapies, fund its manufacturing program, support ongoing research and development, and for other general and corporate working capital purposes. Based in Toronto, Lorus is a portfolio company of Canadian life sciences-focused venture capital firm Lumira Capital, Pinetree Capital and other investors.
Clinical-stage biotechnology company Lorus Therapeutics Inc (TSX: LOR) has filed a preliminary prospectus for an overnight marketed public offering of common shares for about $17 million. The net proceeds will be used to develop the company's cancer-related drug therapies, fund its manufacturing program, support ongoing research and development, and for other general and corporate working capital purposes. Based in Toronto, Lorus is a portfolio company of Canadian life sciences-focused venture capital firm Lumira Capital, Pinetree Capital and other investors.
Basis Science Inc, the maker of Basis, a wearable health tracker to improve fitness and sleep, has been acquired by Intel Corp (NASDAQ: INTC). The value of the non-disclosed transaction has been pegged by TechCrunch at or above US$100 million. The sale of Basis Science, which is located in San Francisco, California, but was originally founded in Vancouver, British Columbia, has resulted in exits for its venture capital investors. They include Canadian firm iNovia Capital, which participated in the company's US$11.75 million Series B financing in 2013. The Basis exit comes on the heels of iNovia's exit from Tagman Ltd, bought last week by Ensighten Inc.
Basis Science Inc, the maker of Basis, a wearable health tracker to improve fitness and sleep, has been acquired by Intel Corp (NASDAQ: INTC). The value of the non-disclosed transaction has been pegged by TechCrunch at or above US$100 million. The sale of Basis Science, which is located in San Francisco, California, but was originally founded in Vancouver, British Columbia, has resulted in exits for its venture capital investors. They include Canadian firm iNovia Capital, which participated in the company's US$11.75 million Series B financing in 2013. The Basis exit comes on the heels of iNovia's exit from Tagman Ltd, bought last week by Ensighten Inc.
Enterprise communication specialist X2O Media Inc has been acquired for $21 million by Barco NV, a Belgian developer of visualization products. Barco said the deal helps it move beyond display and projection technology into advanced networking and connectivity. The acquisition also provides an exit to X2O backer Propulsion Ventures, a venture capital firm affiliated with Canadian technology investor Telesystem. The Montréal-based X2O was founded as a spin-off from VertigoXmedia Inc, a broadcast graphics platform bought by Miranda Technologies Inc in 2006. Another Canadian venture capital firm, BEST Funds, provided debt financing to the company.
TouchBistro Inc, a provider of mobile point-of-sale solutions for the food and beverage industry, has closed a second tranche of its seed financing round. The Toronto-based startup received investments from U.S. venture capital firm Walden Venture Capital and Canadian alternative assets manager Kensington Capital Partners. Following completion of the round's first tranche, led by Relay Ventures last November, the latest deal brings TouchBistro's total funding to $6 million. The company, which recently opened an office in New York and soon will open one in San Francisco, said it has plans for aggressive growth, which includes doubling its customer base in the next 12 months.
TouchBistro Inc, a provider of mobile point-of-sale solutions for the food and beverage industry, has closed a second tranche of its seed financing round. The Toronto-based startup received investments from U.S. venture capital firm Walden Venture Capital and Canadian alternative assets manager Kensington Capital Partners. Following completion of the round's first tranche, led by Relay Ventures last November, the latest deal brings TouchBistro's total funding to $6 million. The company, which recently opened an office in New York and soon will open one in San Francisco, said it has plans for aggressive growth, which includes doubling its customer base in the next 12 months.
Clio, a specialist in cloud-based management tools for the legal industry, has secured $20 million in a Series C financing round led by U.S. venture capital firm Bessemer Venture Partners. Existing investors Acton Capital Partners and Point Nine Capital joined in the round, as did Canadian firm Version One Ventures, which is investing in Clio for the first time. The deal brings total venture capital raised by the Vancouver-based company to $27 million. Clio said that the new funding will be used to accelerate product development and sales and fuel global expansion over the next 12 months. Founded in 2009, the company has legal professionals in 50 countries using its service.