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Canopy Rivers has invested $9.4 million in the Canadian parent company of Canapar SrL (Canapar Italy), a Ragusa, Italy-based organic hemp production and processing platform. The deal completes a $17.4 million commitment made by Canopy in December. It increases the investor's stake in Canapar Canada to 49 percent from 35 percent. Founded in 2018, Canapar Italy makes cannabidiol oil and isolates used as an input in health and wellness products. It will use the funds raised to execute on its market strategy in Europe. Canopy is the venture capital arm of Canadian cannabis producer Canopy Growth Corp.

Export Development Canada (EDC) has invested $1 million in P&P Optica, a Waterloo-based technology company focused on assessing food quality and reducing landfill waste. Led by President and CEO Olga Pawluczyk, P&P Optica has developed a smart imaging system that uses artificial intelligence to provide food processors with in-line visibility over food safety and quality. The funds raised will be used for enhancing the company's technology and deploying it to food processing plants across North America. Last year, P&P Optica secured $3.1 million in financing from Fulcrum Global Capital, a U.S. food technology venture capital firm.

Better Mortgage, a New York-based digital mortgage lender, has raised US$70 million in a Series C financing. The round's backers included Healthcare of Ontario Pension Plan (HOOPP). It was joined by American Express Ventures and existing investors. Launched in 2016, Better Mortgage has so far funded more than US$2 billion in loans, helping over 7,000 Americans buy or refinance their home. The company's expansion plans for 2019 include new technology investment, team growth and development of partnership channels.

Mike Woollatt has left OMERS Platform Investments to join U.S. alternative investment manager Hamilton Lane, according to a report by BetaKit. Woollatt, who joined OMERS in 2018, took on the Hamilton Lane role of principal, fund investments and co-investments, the report said, citing Woollatt's LinkedIn profile. Bala Cynwyd, Pennsylvania-based Hamilton Lane, which oversees US$452 billion in assets, was one of five funds-of-funds managers selected for investment last year by Ottawa's Venture Capital Catalyst Initiative (VCCI). Prior to OMERS, Woollatt was CEO of the Canadian Venture Capital and Private Equity Association.

OMERS Ventures, the VC arm of the $95 billion Canadian pension fund OMERS, is accelerating an ambitious strategy to establish itself as a global platform. OV is eyeing vistas in the U.S. and Europe with the goal of getting “feet on the street” in key tech hubs, Head of Ventures Damien Steel said. The strategy was put into action in January as the firm opened an office in Silicon Valley and hired Michael Yang, formerly managing director of Comcast Ventures, to run it. As a next step, OV will begin evaluating opportunities in Europe, a process that is likely to result in an presence in London, Steel said.

Integrate.ai has raised undisclosed financing from Telus Ventures, the strategic investment arm of Canadian telecommunications company Telus Corp (TSX: T, NYSE: TU). The funds raised will support development of the Toronto-based company's artificial intelligence (AI) enterprise software platform. Additionally, Integrate.ai and Telus signed a multi-year commercial agreement to deploy "responsible" AI to optimize the experience of Telus customers. Launched in 2017 by CEO Steve Irvine, Integrate.ai in September closed a $39.5 million Series A financing. It was led by Portag3 Ventures and joined by Georgian Partners and Real Ventures.

Canadian mobile venture capital firm Relay Ventures has promoted Jake Cassaday to partner. Cassaday joined the firm as an intern in 2014, after serving as an executive at Spin Master. He became a Relay associate in 2015 and was promoted to associate partner in 2017. Cassaday, who has sourced and closed deals in Canada and the United States, sits on the boards of several Relay portfolio companies, include Alate Partners, which raised a $40 million seed round in November. Based in Toronto, Relay is currently investing from Relay Ventures III, which which raised $200 million in 2016.

Modulated Imaging, an Irvine, California-based maker of optical imaging devices, has raised US$7 million in the first close of a US$10 million Series B financing. The round was led by Pangaea Ventures, a Canadian advanced materials venture capital firm. It was joined by new and existing investors. Janelle Goulard, Pangaea's director of health investment, will join the board. Founded in 2005, Modulated Imaging leverages medical photonics and informatics to help clinicians assess tissue health. It will use the funds raised primarily for commercialization of its new device, Clarifi.

Thoughtexchange, a Rossland, British Columbia-based group insight platform, has raised $4 million in a convertible note financing. The investors were Canadian technology private equity firm Yaletown Partners and existing angel backers. Founded in 2009 and led by CEO Dave McLeod, Thoughtexchange provides software and services to help organizations hold group conversations and take action based on an understanding of common ground and areas of disagreement. It will use the funds raised to support continued growth. Thoughtexchange has previously been backed by First Generation Capital, JNKS Investments, Kingswood Capital and Marin Investments.

CIBC Innovation Banking has provided $1.7 million in financing to 7shifts, a Saskatoon-based provider of restaurant employee scheduling solutions. The proceeds will be used to support the company's growth. Founded in 2014, 7shifts helps restaurant operators and employees with tasks like scheduling, team communication and labour cost control. Its software is used by more than 250,000 professionals in over 10,000 locations worldwide. Earlier this month, 7shifts closed a $13.4 million Series A round led by Napier Park Financial Partners and joined by Teamworthy Ventures, Relay Ventures and Peter Harrison.