Organization: Business Development Bank of Canada

Element AI goes global with $137.5-million series ‘A’ investment

Montreal-based Element AI has raised $137.5 million in series ‘A’ financing to support investment in large-scale artificial intelligence (AI) projects internationally, cement its status as Canada’s the largest global AI company and hire 250 people by January 2018. The investment is the world’s largest Series A round ever for an AI company. The financing is…

Northleaf backs Venture One early-stage fund

Northleaf |Capital Partners‘s Northleaf Venture Catalyst Fund is an anchor investor in Vancouver-based Version One Ventures II. The $10-million investment will be used by Version One for seed and series A financing of Internet, SaaS (software as a service) and mobile entrepreneurs. Northleaf is an offshoot of the TD Bank Financial Group and is backed…

GrowLab and BDC offer support to entrepreneurs

The Business Development Bank of Canada (BDC) is offering $150,000 in follow-on financing to successful graduates of a unique mentorship program for aspiring entrepreneurs. The GrowLab start-up boot camp is holding a competition offering start-up companies $25,000, four months of mentoring, free office space and the opportunity to pitch to investors. The accelerator program stems…

Bioniche opens animal vaccine production facility

Bioniche Life Sciences Inc has opened Canada’s largest livestock vaccine manufacturing facility using $25 million in repayable loans from the federal and Ontario government’s The Animal Health and Food Safety Vaccine Manufacturing Centre, located at the firm’s headquarters in Belleville ON, is a scale-up facility and the first milestone in a planned $100-million project (R$,…

BTI raises $23 million in venture financing

BTI Systems has raised US$23 million in capital from a consortium of venture capital investors to further develop its technology for streaming video on existing networks. The financing marks the second time in six months that the Ottawa-based company has raised new capital, following an $11-million round last year. With 220 employees, 14-year-old BTI has…

VanEdge to announce fund investors

A new $100-million, Vancouver-based venture fund for digital media led by three former executive at Electronic Arts‘ Canadian operations is set to announce its investors. Among the rumoured investors in VanEdge Capital are Business Development Bank of Canada, Electronic Arts and Export Development Corp. VanEdge was established last year by Paul Lee, Glenn Entis, EA’s…

BDC to finance CANMET MTL move to McMaster

The Business Development Bank of Canada has announced financing of $57 million in a $69-million research complex that is the future home of the CANMET Materials Technology Laboratory. (MTL). Currently based in Ottawa as part of Natural Resources Canada, MTL is re-locating to the McMaster Univ Innovation Park as part of a larger federal initiative…

BDC first up with FedDev funding for Southern Ontario

The Business Development Bank of Canada (BDC) is investing $50 million in early stage firms and venture capital funds under the umbrella of the recently created federal economic development program for southern Ontario. The funding will provide $35 million for early-stage investments and $125 million for venture capital funds with BDC collaborating with the Ontario…

NRC, NSERC and BDC team up for nanotech

Three key Canadian S&T players are teaming up to launch a new program for nanoscience and nanotechnology. The National Research Council and the Natural Sciences and Engineering Research Council (NSERC) are each contributing $6 million over three years to fund large-scale, technology-driven projects that leverage nanotech expertise at the NRC and Canadian universities. The Business…

Symagery sells to Psion Teklogix for $4.5 million

Ottawa’s Symagery Microsystems Inc has been purchased by Psion Teklogix, Mississauga, for $4.5 million after receiving at least $30 million in venture capital financing and bridge loans. Symagery was formed in 2001as a spinoff of Orisar Inc (formerly Semiconductor Insights Inc) to develop mobile computing and wireless data applications for original equipment manufacturers serving the…