Tracxn - Geo - Canada Tech - May 2021

TRACXN MONTHLY REPORT
MAY 2021
CANADA TECH

Canada Tech - May 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Contents
2
Canada Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 12
Top Funded Business Models - last 1 year 14
New Analyst Picks 15
IPOs 21
Acquisitions 22
Recent News 24

Canada Tech Snapshot – May 2021
Canada Tech: Snapshot – May 2021
Note : "Investors" refers to "Institutional Investors" only
3
$2.2B
33 5
Overall Geo Stats
20
19
153
59
66
Funding Rounds $ Invested Analyst Picks
Tenstorrent
Upgraded to
UNICORN
New Investors
Entree Capital
DST Global
Series A+ rounds Active Investors IPOs
Mynd
WondrGaming
Acquisitions
Foko Retail#@
ArtStation#@
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Toronto
(29 Rounds, $1.3B)
Vancouver
(10 Rounds, $200M)
Montreal
(7 Rounds, $501M)
Calgary
(3 Rounds, $664K)
$610M - Series F
Wealthsimple (2014, Toronto, $901M)
$488M - Series B
eStruxture (2017, Montreal, $668M)
$200M - Series C
Tenstorrent (2016, Toronto, $221M)
$130M - Series C
Ada (2016, Toronto, $200M)
BDC
(3 Investments)
Tiger Global Management
(3 Investments)
Bessemer Venture
Partners
(2 Investments)
Spark Capital
(2 Investments)
Investment Tech
Wealthsimple
Data Center Infrastructure
eStruxture
Digital ICs
Tenstorrent
AI Infrastructure
Market Size
Companies Covered 25,238
Funded Companies 5,723
Total Funding $38.3B
Funding in last 12 months $9.7B
Top Exits
IPOs 532
Acquisitions 1,529
Company Stage
Unicorns 13
Soonicorns 111
Minicorns 353
Editor Picks 2,044
Series A+ 1,278
Series C+ 322
Acqui-Hires 13
Deadpooled 2,353
Top Cities
Toronto (1,706 Rounds, $12.4B)
Vancouver (852 Rounds, $5.8B)
Top Investors
BDC (293 Investments)
MaRS Discovery District (171
Investments)

Investment Snapshot
Investment Snapshot of Canada Tech as of May 2021
Canada Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (May 2021)*
Wealthsimple
(2014, Toronto, $901M)
$610M - Series F Meritech
eStruxture
(2017, Montreal, $668M)
$488M - Series B
Caisse de depot et placement
du Quebec
Tenstorrent
(2016, Toronto, $221M)
$200M - Series C Fidelity Investments
Ada
(2016, Toronto, $200M)
$130M - Series C Spark Capital
Xanadu
(2016, Toronto, $145M)
$100M - Series B Bessemer Venture Partners
Vendasta
(2008, Saskatoon, $141M)
$98.8M - Series D Nicola Wealth
Virogin Biotech
(2015, Vancouver, $142M)
$80.0M - Series D Forebright Capital
Dooly
(2014, Vancouver, $105M)
$80.0M - Series B Spark Capital
Knix
(2012, Toronto, $58.7M)
$53.0M - Series B TZP Group
Ledn
(2018, Toronto, $34.3M)
$30.0M - Series A Coinbase Ventures
PartnerStack
(2015, Toronto, $38.1M)
$29.0M - Series B Whitecap Venture Partners
*Shows only the lead Investors

List of Funding Rounds (1/7)
List of Funding Rounds in Canada Tech in May 2021
Canada Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
LATE STAGE
$18.8M - Series C
Terrestrial Energy (2013, Oakville, $60.1M)
Developer of molten salt reactors
LATE STAGE
$55.0M - Series C
eSSENTIAL ACCESSIBILITY (2007, Toronto, $71.0M)
Cloud-based ADA compliance management solution
provider
KKR
LATE STAGE
$80.0M - Series D
Virogin Biotech (2015, Vancouver, $142.0M)
Developed of drugs for the treatment of cancer
Forebright Capital, GP Capital, Young Label, Panlin
Capital
LATE STAGE
$98.8M - Series D
Vendasta (2008, Saskatoon, $140.5M)
Sales and marketing automation platform
Nicola Wealth, Canadian Business Growth Fund
LATE STAGE
$130.0M - Series C
Ada (2016, Toronto, $200.0M)
Provider of an AI chatbot for customer experience
Spark Capital, FirstMark, Bessemer Venture Partners,
Version One Ventures, Tiger Global Management, and
1 more
LATE STAGE
$200.0M - Series C
Tenstorrent (2016, Toronto, $221.0M)
Provider of cloud and AI-based deep learning
processing units
Fidelity Investments, Moore Capital Management,
Eclipse, Real Ventures
LATE STAGE
$610.0M - Series F
Wealthsimple (2014, Toronto, $901.3M)
Online robo advisor & investment management
platform for investors
Meritech, Greylock Partners, Alkeon Capital
Management, Redpoint Ventures, Iconiq Capital, and
13 more
LATE STAGE
PE
PDFTron (1998, Vancouver, $71.0M)
PDF document processing and conversion products
provider
Thoma Bravo
EARLY STAGE
$308.0K - Series A
Vegano Foods (2020, Vancouver, $6.0M)
Platform offering plant-based meal kit delivery services

6
EARLY STAGE
$3.1M - Series A
ChargerQuest (2019, Toronto, $3.1M)
Operator of electric vehicle charging solutions
Foundation Markets
EARLY STAGE
$7.2M - Series A
Relay (2019, Toronto, $10.2M)
Platform for automating reinsurance process
EARLY STAGE
$8.0M - Series A
Novisto (2019, Montreal, $9.5M)
Cloud-based sustainability management software
provider
White Star Capital, Diagram Ventures
EARLY STAGE
$8.9M - Series A
Convictional (2017, Toronto, $11.3M)
B2B e-commerce platform for multi-channel selling
EARLY STAGE
$10.0M - Series B
Thentia (2014, Toronto, $10.0M)
Regulatory compliance and governance solutions
provider
Spring Mountain Capital, BDC Capital Management
EARLY STAGE
$10.2M - Series A
Vetster (2020, Toronto, $10.2M)
Provider of an online video consultation platform to
manage animal health
Whitecap Venture Partners, Brightspark Ventures,
Hedgewood, Michael Katchen, Leen Li, and 2 more
EARLY STAGE
$10.2M - Series A
Fluence Technologies (2018, Toronto, $10.2M)
Cloud-based solution for financial data analytics
Banneker Partners
EARLY STAGE
$10.5M - Series B
Maritime Launch Services (2016, Halifax, $10.5M)
Provider of space mission launch services
PowerOne Capital Markets, Primary Capital
EARLY STAGE
$12.0M - Series A
Railz (2020, Toronto, $15.1M)
Data as a service accounting for businesses
Nyca, Hack VC, Global Founders Capital, Vestigo
Ventures, Susa Ventures, and 3 more
EARLY STAGE
$12.4M - Series A
Hydra Energy (2012, Delta, $18.2M)
Provider of hydrogen fueling stations for commercial
fleet operators
Just Business

7
EARLY STAGE
$15.0M - Series A
Relay (2018, Toronto, $19.4M)
Digital bank for businesses
Bain Capital Ventures, Panache Ventures, Garage
Capital, Tribe Capital, Better Tomorrow Ventures
EARLY STAGE
$21.5M - Series B
7shifts (2011, Regina, $42.2M)
Provide of online employee scheduling software for
restaurants
Enlightened Hospitality Investments, Ten Coves
Capital, Relay Ventures
EARLY STAGE
$22.4M - Series B
Clir (2016, Vancouver, $27.7M)
Provider of renewable energy asset reporting software
solutions
Longbow Capital, ArcTern Ventures, Tokio Marine HCC,
Active Impact Investments, CPP Investments, and 1
more
EARLY STAGE
$27.0M - Series A
Gilgamesh (2019, , $30.2M)
Developer of drugs for neuropsychiatric conditions
Prime Movers Lab, Palo Santo, JLS Fund, Route 66
Ventures, , and 1 more
EARLY STAGE
$29.0M - Series B
PartnerStack (2015, Toronto, $38.1M)
Platform offering affiliate based marketing solutions
3L Capital, Whitecap Venture Partners, RRE Ventures,
HarbourVest Partners
EARLY STAGE
$30.0M - Series A
Ledn (2018, Toronto, $34.3M)
Blockchain-based & crypto-backed lending platform
Kingsway Capital, Hashed, Global Founders Capital,
Parafi Capital, Coinbase Ventures, and 6 more
EARLY STAGE
$53.0M - Series B
Knix (2012, Toronto, $58.7M)
Internet-first brand of innerwear for women
TZP Group, Alumni Ventures Group, Acton Capital
Partners, Ashley Graham, Tom Williams
EARLY STAGE
$80.0M - Series B
Dooly (2014, Vancouver, $105.0M)
Reporting tool for Sales reps
Spark Capital, Boldstart Ventures, MANTIS, SV Angel,
BoxGroup, and 6 more

8
EARLY STAGE
$100.0M - Series B
Xanadu (2016, Toronto, $145.0M)
Manufacturer of cloud and AI-based application-
specific ICs for quantum computing applications
Bessemer Venture Partners, Georgian, OMERS, Tiger
Global Management, Capricorn, and 3 more
EARLY STAGE
$488.0M - Series B
eStruxture (2017, Montreal, $668.0M)
Data center colocation providers
Caisse de depot et placement du Quebec, Fengate
EARLY STAGE
Series A
ZeroSound (2015, Calgary)
Provider of solutions for noise suppression panel
- JV Driver
EARLY STAGE
Series A
LiveBarn (2014, Montreal)
On-demand online broadcasting of youth and amateur
sports
Susquehanna Growth Equity
EARLY STAGE
Series B
Pyrowave (2013, Montreal, $1.0M)
Microwave based plastic to oil conversion
Fonds de solidarite FTQ
EARLY STAGE
Series A
Kaloom (2014, Montreal, $32.5M)
software based data center fabric
Alternative Capital Group
SEED STAGE
$78.9K - Seed
Legible (2020, Vancouver, $78.9K)
Online self-book publishing platform
SEED STAGE
$91.7K - Seed
VistaVu Solutions (1996, Calgary, $91.7K)
Provider of cloud-based software solutions for the oil
and gas industry
SEED STAGE
$150.0K - Seed
Pattern Pharma (2018, Toronto, $2.6M)
Developer of immunotherapies to treat cancers and
infectious diseases
SEED STAGE
$382.1K - Seed
Bonne O (2014, Toronto, $382.1K)
Internet first brand offering beverage system
SEED STAGE
$572.6K - Seed
PayShepherd (2018, Calgary, $572.6K)
Contract management software for businesses
Thin Air Labs, Tribune Capital, , Stagecoach Ventures,
Neil Danroth, and 2 more

9
SEED STAGE
$911.5K - Seed
Luminari (2016, Toronto, $2.2M)
Online recruitment platform for CPAs in Canada
Jean Desgagne, William Tunstall-Pedoe, Neil
Wainwright, Joel Lessem, Chris Gilpin
SEED STAGE
$1.0M - Seed
OpenUnit (2019, Toronto, $1.1M)
SaaS-driven facility management software for storage
facilities
Advisors.fund, , Garage Capital, Jonathan Wasserstrum,
Jeremiah Jacks, and 6 more
SEED STAGE
$1.0M - Seed
Cartwheel (2012, , $1.0M)
Provider of an on-demand delivery management
software solution
TenOneTen, Portillo's, Act One Ventures
SEED STAGE
$1.6M - Seed
Pattern Pharma (2018, Toronto, $2.6M)
Developer of immunotherapies to treat cancers and
infectious diseases
SEED STAGE
$1.7M - Seed
Wingocard (2019, Montreal, $3.3M)
NFC-enabled prepaid card for teens
Panache Ventures, Diagram Ventures, Cherif Habib,
Francois Arbour
SEED STAGE
$1.7M - Seed
Omega Crop (2020, , $1.7M)
Provider of productivity software for farm
management
Oxford Sciences Innovation
SEED STAGE
$1.7M - Seed
loopt (2018, Toronto, $1.7M)
Platform offering rental subscription programs for
brands
, Kirsten Chapman, Gemini Waghmare, Jay Deen, Jeff
Smith
SEED STAGE
$2.0M - Seed
Ziva Dynamics (2015, Vancouver, $12.2M)
VFX animation software provider
SEED STAGE
$2.0M - Seed
BuyProperly (2019, Toronto, $2.0M)
Alternative investment marketplace for the real estate
sector
Nurture Ventures, Fastbreak Ventures, Andrew
Graham, Eva Wong

10
SEED STAGE
$2.0M - Seed
G2V Optics (2013, Edmonton, $2.0M)
Commercial horticulture lighting and solar simulation
solution provider
SEED STAGE
$2.0M - Seed
Agnostiq (2018, Toronto, $2.0M)
Provider of a quantum computing development
platform
Differential Ventures, Boost VC, Scout Ventures,
Tensility Venture Partner, Green Egg Ventures
SEED STAGE
$2.2M - Seed
Fave (2020, , $2.2M)
Social platform for connecting with superfans and
earning rewards
Sony Music, Concord Music, Techstars, Betaworks,
Warner Music, and 1 more
SEED STAGE
$2.3M - Seed
StoryTap (2015, Vancouver, $2.4M)
Provider of video marketing platform
Refinery Ventures, StandUp Ventures
SEED STAGE
$2.7M - Seed
Rocket Doctor (2020, Toronto, $3.8M)
Online appointment booking platform for patients
F7 Ventures, Irv Edwards
SEED STAGE
$3.0M - Seed
Nanology Labs (2018, Toronto, $3.0M)
Developer of diagnostic agents to detect cancers at the
early stages
FACIT, Ontario Centre of Innovation, MEDTEQ, Creative
Destruction Lab, Ontario Brain Institute
SEED STAGE
$3.6M - Seed
Optable (2020, Montreal, $3.6M)
Data driven programmatic advertising solution
Brightspark Ventures, David Hahn, David Yaffe, Jim
Payne, Alex Blum
SEED STAGE
$3.9M - Seed
Twin Suns Corp (2021, , $3.9M)
Video game developer
Hiro Capital
SEED STAGE
$6.0M - Seed
Stoko (2019, Vancouver, $7.0M)
Developer of compression tights for knee support
John Currie, Norm Francis, Greg Malpass, Darrell
Kopke, Paul Geyer

11
SEED STAGE
$7.0M - Seed
Sports IQ (2018, Vancouver, $7.0M)
AI-enabled platform offering live betting management
solutions
Harlo Capital, The Kraft Group, Velo Partners, Mitch
Garber, Theo Epstein, and 2 more
SEED STAGE
$7.0M - Seed
Curbie (2017, Saskatoon, $7.0M)
Online B2C marketplace for used cars
Conexus Credit Union, SaskWorks Venture Fund
SEED STAGE
$11.0M - Seed
Giiant Pharma (2014, Quebec City, $11.0M)
Colon-specific Anti-Inflammatory Therapy for
Ulcerative Colitis
Amplitude, Genesys Capital, Anges Quebec,
Theodorus, AmorChem, and 1 more
SEED STAGE
$19.0M - Seed
RVezy (2016, Ottawa, $19.0M)
Online RV rental platform
FRIND PROPERTIES
SEED STAGE
Seed
Rumble (2013, Toronto)
Video creator monetization platform
Narya, Colt Ventures, Peter Thiel
SEED STAGE
Seed
precision.ai (2018, Regina)
AI-based sprayer for weed
At One Ventures, BDC, Fulcrum Global Capital, Golden
Opportunities
SEED STAGE
Seed
Daydream Drinks (2019, Toronto)
Provider of drinks with hemp extracts
Eat Beyond Global Investment Fund
SEED STAGE
Seed
Arthrolense (2019, Toronto)
Developer of surgical navigation systems
Lynx Equity
SEED STAGE
Seed
TROES Corp (2018, Markham)
Developer of lithium ion energy storage systems
SDTC
SEED STAGE
Seed
Brizo Data (2017, Quebec City)
Platform offering predictive analytics solution to
restaurants
Branded Strategic Hospitality

New Investors (1/2)
List of New Investors in Canada Tech in May 2021
Canada Tech: List of New Investors
12
Investor Company Info Round Amount Round Name
Entree Capital
107 portfolio companies | Tech focused VC firm investing globally
Railz
$12.00M Series A
DST Global
162 portfolio companies | Tech focused early stage VC firm investing in the US,
Europe & Asia
Wealthsimple
Online robo advisor & investment management platform for investors
$610M Series F
Colt Ventures
7 portfolio companies | Private equity investment firm based out of USA
Rumble
Video creator monetization platform
Undisclosed Seed
Moore Capital Management
9 portfolio companies | Privately-owned equity long/short strategy hedge fund
Tenstorrent
Provider of cloud and AI-based deep learning processing units
$200M Series C
insitepg.com
1 portfolio companies | InSite - Bringing transformative change to commercial
real estate.
OpenUnit
SaaS-driven facility management software for storage facilities
$1.00M Seed
Sony Music
7 portfolio companies | Music company for artists
Fave
Social platform for connecting with superfans and earning rewards
$2.20M Seed
At One Ventures
8 portfolio companies | Venture capital fund focused on tech startups
precision.ai
Undisclosed Seed
Concord Music
2 portfolio companies | Music publishing and record companies
Fave
Social platform for connecting with superfans and earning rewards
$2.20M Seed
Scout Ventures
57 portfolio companies | Micro VC firm investing in seed stage companies in the
US
Agnostiq
Provider of a quantum computing development platform
$2.00M Seed
TZP Group
9 portfolio companies | Venture capital firm investing in multiple sectors
Knix
$53.00M Series B

New Investors (2/2)
List of New Investors in Canada Tech in May 2021
Canada Tech: List of New Investors
13
Investor Company Info Round Amount Round Name
The Kraft Group
33 portfolio companies | Family office of Kraft
Sports IQ
AI-enabled platform offering live betting management solutions
$7.00M Seed
Enlightened Hospitality Investments
5 portfolio companies | Private equity fund focused on hospitality sector
7shifts
Provide of online employee scheduling software for restaurants
$21.50M Series B
Nyca
81 portfolio companies | Tech focused early stage VC firm investing in the US
Railz
$12.00M Series A
Spring Mountain Capital
7 portfolio companies | Investing in the US
Thentia
Regulatory compliance and governance solutions provider
$10.00M Series B
Steadfast
1 portfolio companies | Public & private cloud services and managed IT and
dedicated servers
Wealthsimple
$610M Series F
TenOneTen
63 portfolio companies | Early stage venture capital firm investing in US
Cartwheel
Provider of an on-demand delivery management software solution
$1.00M Seed
Sagard
7 portfolio companies | PE firm invests in France, Belgium & Switzerland
Wealthsimple
$610M Series F
Plus Capital
14 portfolio companies | VC firm investing in US
Wealthsimple
$610M Series F
Nurture Ventures
2 portfolio companies | Sector agnostic startup studio
BuyProperly
Alternative investment marketplace for the real estate sector
$2.00M Seed
Velo Partners
11 portfolio companies | Early-stage offline-focused VC investment company
investing primarily in the UK
Sports IQ
AI-enabled platform offering live betting management solutions
$7.00M Seed

Top Funded Business Models - last 1 year
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1
year.
14
Rank Business Model $ Funding # Rounds Top Funding Round
1 <> 0 Data Science Platforms $1.0B 1 Databricks | $1.0B | Series G
2 -- Robo Advisors $697M 3 Wealthsimple | $610M | Series F
3 -- Islamic FinTech > Investment Platforms > Robo Advisors $697M 2 Wealthsimple | $610M | Series F
4 ▲52 PC and Console Casual Game Developers $572M 4 Dapper Labs | $305M | Series C
5 ▲245 Datacenter Colocation $488M 1 eStruxture | $488M | Series B
6 ▲183 Financial Planning & Analysis Software $241M 1 Vena | $241M | Series C
7 -- Sales RFP Response Automation $200M 1 Loopio | $200M | Series B
8 -- Deep Learning Processing Units $200M 1 Tenstorrent | $200M | Series C
9 ▲58 Classroom Live Streaming Platform For Higher Education $130M 1 Top Hat | $130M | Series E
10 -- Cardiac Rhythm Disorder Treatment Devices $116M 1 Kardium | $116M | Series B

New Analyst Picks (1/6)
Interesting Companies identified by Analysts in Canada Tech in May 2021
Canada Tech: Analyst Picks
15
Upgraded to UNICORN
Tenstorrent (2016, Toronto, $20.5M, Series B)
Provider of cloud and AI-based deep learning
processing units
Moore Capital Management, Fidelity Investments, Real
Ventures and 3 other Investors
Upgraded to UNICORN
Ada (2016, Toronto, $130M, Series C)
Provider of an AI chatbot for customer experience
Accel, Version One Ventures, Tiger Global
Management and 5 other Investors
Upgraded to SOONICORN
7shifts (2011, Regina, $6.0M, Series A)
Provide of online employee scheduling software for
restaurants
Napier Park Global Capital, Western Economic
Diversification Canada, Teamworthy Ventures and 7
other Investors
Xanadu (2016, Toronto, $3.3M, Series A)
Manufacturer of cloud and AI-based application-
specific ICs for quantum computing applications
SDTC, Tim Draper, In-Q-Tel and 14 other Investors
eSSENTIAL ACCESSIBILITY (2007, Toronto, $16.0M,
Series B)
Cloud-based ADA compliance management solution
provider
Lead Edge Capital,KKR,Canadian Technology
Acceleratorsand
Knix (2012, Toronto, $5.7M, Series A)
Acton Capital Partners, Heron Rock, Alumni Ventures
Group and 3 other Investors
Vendasta (2008, Saskatoon, $8.3M, Series B)
Sales and marketing automation platform
Comporium, Western Economic Diversification Canada,
Vanedge Capital and 4 other Investors
Dooly (2014, Vancouver, $2.0M, Seed)
Reporting tool for Sales reps
Lachy Groom, Allison Pickens, Dimitri Sirota and 26
other Investors

16
Upgraded to MINICORN
Thentia (2014, Toronto, Undisclosed, Series A)
Regulatory compliance and governance solutions
provider
Spring Mountain Capital, BDC, BDC Capital
RVezy (2016, Ottawa, $19.0M, Seed)
Online RV rental platform
Invest Ottawa,FRIND PROPERTIESand
Ecoation (2010, Vancouver, $5.4M, Seed)
Develops integrated hardware and software for plant
disease and stress detection
Creative Destruction Lab,Angel Forum,SDTCand
Luminari (2016, Toronto, $845K, Seed)
Online recruitment platform for CPAs in Canada
Joel Lessem, William Tunstall-Pedoe, OCE and 8 other
Investors
Agnostiq (2018, Toronto, $2.0M, Seed)
Provider of a quantum computing development
platform
Differential Ventures, Green Egg Ventures, Tensility
Venture Partner and 2 other Investors
LiveBarn (2014, Montreal, Undisclosed, Seed)
On-demand online broadcasting of youth and amateur
sports
Rho Canada Ventures,Seven7,Susquehanna Growth
Equityand
Maritime Launch Services (2016, Halifax, $10.5M,
Series B)
Provider of space mission launch services
Primary Capital,PowerOne Capital Marketsand
PartnerStack (2015, Toronto, $120K, Seed)
Platform offering affiliate based marketing solutions
MaRS Discovery District, 3L Capital, RRE Ventures and 8
other Investors
Railz (2020, Toronto, $3.1M, Seed)
Vestigo Ventures, Entree Capital, Global Founders
Capital and 5 other Investors
Novisto (2019, Montreal, $8.0M, Series A)
Cloud-based sustainability management software
provider
White Star Capital,Diagram Venturesand
Fluence Technologies (2018, Toronto, Undisclosed,
Seed)
Cloud-based solution for financial data analytics
MaRS Investment Accelerator Fund,Banneker
Partnersand
precision.ai (2018, Regina, Undisclosed, Grant (prize
money))
Protein Industries Canada, Golden Opportunities, BDC
and 3 other Investors

17
Sports IQ (2018, Vancouver, $7.0M, Seed)
AI-enabled platform offering live betting management
solutions
Mitch Garber, The Kraft Group, Harlo Capital and 5
other Investors
Giiant Pharma (2014, Quebec City, $11.0M, Seed)
Colon-specific Anti-Inflammatory Therapy for
Ulcerative Colitis
Theodorus, Genesys Capital, Anges Quebec and 3 other
Investors
Gilgamesh (2019, , $735K, Seed)
Developer of drugs for neuropsychiatric conditions
Palo Santo, Noetic Psychedelic Fund, and 8 other
Investors
Stoko (2019, Vancouver, $6.0M, Seed)
Developer of compression tights for knee support
Greg Malpass, MedTech Innovator, Paul Geyer and 4
other Investors
StoryTap (2015, Vancouver, $120K, Seed)
Provider of video marketing platform
Spring, Refinery Ventures, Right Side Capital
Added to Editor's Pick
Nanology Labs (2018, Toronto, Undisclosed, Seed)
Developer of diagnostic agents to detect cancers at the
early stages
Ontario Brain Institute, MEDTEQ, FACIT and 4 other
Investors
Sherpa (2015, Toronto, $8.5M, Series A)
Electronic visa processing solution for airlines
Hangar 51, True Ventures, L P Maurice and 8 other
Investors
BuyProperly (2019, Toronto, $2.0M, Seed)
Alternative investment marketplace for the real estate
sector
Eva Wong, Ryerson Futures, Andrew Graham and 2
other Investors
G2V Optics (2013, Edmonton, $2.0M, Seed)
Commercial horticulture lighting and solar simulation
solution provider
Accelerate Fund,Creative Destruction Laband

18
Pinch (, Waterloo, Unfunded)
App-based voice chat platform for gamers
zVentures,Boost VCand
Cover FX (2000, Toronto, Undisclosed, PE)
Internet first brand offering multi natural makeup care
products
L Cattertonand
Kinetyx (2019, Calgary, $750K, Seed)
Developer of in-shoe sensor-based solutions for
multiple sports
Thuja Capital,NEXT VENTŪRESand
Heirlume (2020, Toronto, $1.4M, Seed)
Provider of online trademark registration solution for
retail businesses
Daniel Debow, W Fund, Jaclyn Johnson and 10 other
Investors
Fave (2020, , $2.2M, Seed)
Social platform for connecting with superfans and
earning rewards
Betaworks, Female Founders Fund, Sony Music and 3
other Investors
Vejii (2020, Kelowna, $2.0M, Seed)
Online marketplace offering plant-based grocery
products
NamasteMD (2014, Toronto, Unfunded)
Provider of a mobile application for teleconsultation
Curbie (2017, Saskatoon, $7.0M, Seed)
Online B2C marketplace for used cars
Broad Street Bulls,Conexus Credit Union,SaskWorks
Venture Fundand
PayShepherd (2018, Calgary, $573K, Seed)
Contract management software for businesses
Thin Air Labs, Neil Danroth, and 5 other Investors
Omega Crop (2020, , $1.7M, Seed)
Provider of productivity software for farm
management
Oxford Sciences Innovationand
CXN360 (2012, Saskatoon, Unfunded)
Online grain trading marketplace
GSoft (2006, Montreal, Unfunded)
Cloud-based application migration software provider

19
Twin Suns Corp (2021, , $3.9M, Seed)
Video game developer
Hiro Capitaland
loopt (2018, Toronto, $1.7M, Seed)
Platform offering rental subscription programs for
brands
Jay Deen, , Kirsten Chapman and 2 other Investors
Arthrolense (2019, Toronto, Undisclosed, Seed)
Developer of surgical navigation systems
Lynx Equityand
Modern Campus (2000, Toronto, Unfunded)
Cloud-based platform providing educational
management solutions
Tervene (2015, Montreal, Unfunded)
Cloud-based knowledge management software
provider
Cash Wave (2020, Toronto, Unfunded)
Software for ATM management
ARBR (2018, Edmonton, Unfunded)
Developer of software for cannabis strain
recommendation
73 Strings (2018, Toronto, Unfunded)
AI-based valuation tools for investors
RightMetric (2018, Vancouver, Unfunded)
Provider of the marketing intelligence software
solution
Magma Studio (2017, Toronto, Unfunded)
Web-based collaboration platform for artists
PharmAssess (2020, Toronto, Unfunded)
Cloud-based pharmacy management tool
Community Garden App (2020, Vancouver,
Unfunded)
Cloud-based software for community engagement

20
YMCA at Home (2020, Vancouver, Unfunded)
Provider of live and on-demand fitness training
solutions
Fanjara (2019, Toronto, Unfunded)
Provider of the video message marketing software
solution
CarsFast (2020, Calgary, Unfunded)
Online marketplace for auto loans
Saya (2020, Unfunded)
Provider of AI-enabled end-to-end hotel management
solution
LYNX (2019, Mississauga, Unfunded)
Offers cloud-based ERP software for importers & drop
shippers
EyeCane (2017, Waterloo, Unfunded)
Robotic cane providing navigation assistance for
visually impaired

IPO Date Company IPO Mcap Exchange Ticker
26 May 2021
Mynd (2010, Kelowna, $1.9M)
Manufacturer of drugs for neurological disorders
CSE:MYND
07 May 2021
WondrGaming (2019, Mississauga, )
Monetization solutions provider for the gaming industry
CSE:WDR
06 May 2021
The Lion Electric (2008, Saint-jerome, )
Developer of multi-category electric commercial vehicles
TSX:LEV
26 May 2021
Boosh Food (2017, Vancouver, )
Platform offering plant-based food products
$0.0B CSE:VEGI
05 May 2021
Tilray (2013, Nanaimo, $50.4M)
Supplier of cannabis products for medical purposes
TSX:TLRY
IPOs
List of IPOs in Canada Tech in May 2021
Canada Tech: IPOs
21

Acquisitions (1/2)
List of Acquisitions in Canada Tech in May 2021
Canada Tech: Acquisitions
22
Acq. Date Company Acquirer Deal Size
01 May 2021
Foko Retail(2013, Ottawa, $3.0M)
Software solutions for store operations and workforce
management
WorkForce Software
01 May 2021
ArtStation(2014, Montreal)
Showcasing platform for games, film, media, and entertainment
artists
Epic Games
03 May 2021
Shearwater(2004, Richmond)
Manufacturer of dive computers for divers
BRS
04 May 2021
Vision7 International(2010, Quebec City)
Provider of advertising, social media, internet communications,
and other marketing services
CVC Capital Partners
04 May 2021
Vanilla Forums(2009, Montreal, $0.5M)
SaaS Community Forum Software
Higher Logic
05 May 2021
RISE(2017, Surrey)
Automated gift card and loyalty solutions provider
Wix
05 May 2021
Computer Workware(1984, Mississauga)
Provider of software for group insurance plan and benefits
administration
05 May 2021
ESG Solutions(1993, Kingston)
Provider of microseismic monitoring solutions for mining industry
Deep Imaging Technologies
05 May 2021
Metalhead Software(2009, Victoria)
Independent game development studio based out of Canada
Electronic Arts
06 May 2021
Indus AI(2017, San Francisco, $11.7M)
Digital twin platform for construction
Procore

Acquisitions (2/2)
List of Acquisitions in Canada Tech in May 2021
Canada Tech: Acquisitions
23
Acq. Date Company Acquirer Deal Size
10 May 2021
Photon Control(1988, Richmond)
Provider of custom fiber optic sensors for temperature and
position measurement
MKS Instruments
11 May 2021
IntelGenx(2003, Saint-laurent, $5.2M)
Developer of oral thin-film technologies for enhanced drug
delivery
ATAI
12 May 2021
Sourced Group(2010, Toronto, $17.1M)
Provider of IT services suite
Amdocs $75.0M
25 May 2021
LQWD(2019, Vancouver)
Decentralized protocol & infrastructure for bitcoin adoption
Interlapse
25 May 2021
Quantum Benchmark(2017, Kitchener, $1.0M)
Software solutions for analysis and verification of quantum
hardware
Keysight Technologies
27 May 2021
eBridge Connections(1993, Burlington)
Cloud-based accounting integration
Jitterbit
28 May 2021
Redecan(2014, Fonthill)
Integrated business for cultivation, processing, and supply of
medical cannabis
HEXO $764.7M
28 May 2021
Acenzia(2015, Tecumseh)
Developer of diagnostic and pharmaceutical products
Novo Healthnet
31 May 2021
Cozy Cannabis(2020, Toronto)
Online pharmacy for medical cannabis products
Kiaro

Recent News (1/2)
Recent News in Canada Tech in May 2021
Canada Tech:News
24
Exit News
.
● Wix Acquires Israeli Internet Greeting Card Startup Rise.ai Jewish Business News
.
● Wealthsimple Eyes Acquisitions After $610 Million Funding Round BloombergQuint
.
● Epic Games Buys Online Marketplace ArtStation PYMNTS.com
.
● Netmarble’s U.S. subsidiary Jam City merges with a public trading SPAV, to buy
LudiaPulse
.
● WELL's CRH Medical Announces Acquisition of New England Anesthesia
Associates CNW
.
● Intema Acquisition Strategy Leads to L.O.I with Esports Betting Platform
LOOT.BET Investing News
.
● Helix Enters Into Definitive Agreement With UK Digital Asset Brokerage
Company, GlobalBlock Limited, To Comple... CNW
.
● Higher Logic’s Acquisition of Vanilla Global Legal Chronicle
.
Fund News
.
● Bdc Capital Launches Second $250 Million Growth Equity Fund BetaKit
● N-able welcomes Dave MacKinnon and Peter Anastos to its executive
leadership team PCR
.
● ImmunoPrecise appoints Dr. Dion Neame to its Strategic Advisory Board
Business Wire
.
● Nextech AR Solutions Corp. Announces Board and Management Changes Calgary
Herald
.
● BrainBox AI appoints Nicolas Bossé as Head of Energy Transition Business Wire
.
● Giant Eagle Former President Joins Mercatus Progressive Grocer
.
● Jeremy Payne Joins Canalyst To Lead Fundamental Data Products CNW
.
Company News
.
● PharmaTher Files to FDA to Treat Lou Gehrig’s Disease with Ketamine Stockhouse
.
● Algernon Pharmaceutical’s DMT Clinical Research Program for Stroke receives
positive FDA feedback Proactive Investors
.
● MEDO receives FDA approval to Revolutionize Thyroid Ultrasound. CNW

Explore more on Tracxn
Explore more about Canada Tech on Tracxn Platform
Canada Tech: Explore more on Tracxn Platform
25
Companies
Recent Companies Covered
Funded Companies
Editor's Pick
Soonicorn Club
SaaS Companies in Canada
AI Companies in Canada
Fintech Companies Canada
Consumer Digital in Canada
Company Due Diligence
Detailed profile of Wealthsimple
Competitors of Dapper Labs
Cap Tables of Hopper
Investment Activity
Recent Investments
Investment Trend of last 10 years
Mega Investments Rounds
Investors
Most Active Investors
Most Active Angel Investors
Unicorn Investors
Exits
IPO'd Companies
Recent Acquisitions
Most Active Acquirers
Recent Acquihires
News & Events
Recent News
News on People
News on Unicorns
Upcoming Events
Library
Recent Reports
Tracxn Blog
Global Sector Landscape

Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Any and all information either accessed from the website www.tracxn.com or having otherwise originated from Tracxn Technologies Private Limited including but not limited to the
information contained herein ("Data") is the sole property of Tracxn Technologies Private Limited (hereinafter "Tracxn"). You shall not recirculate, distribute, transmit, publish, or sell the
Data or any portion thereof in any form or by any means, either for commercial or non-commercial use, or permit any third party to use or distribute the Data or any portion thereof; to any
other party, except with the prior written consent of Tracxn. You may however incorporate insubstantial portions, extracts, abstracts or summaries from the Data into analysis, presentations
or tools for your customers or for your internal use, so long as Tracxn is clearly and visibly identified as the source of information.
For further information please refer to our Terms of Use at www.tracxn.com

Tracxn - Geo - Canada Tech - May 2021

Recommended

Recommended

More Related Content

More from Tracxn

More from Tracxn (20)

Recently uploaded

Recently uploaded (20)

Tracxn - Geo - Canada Tech - May 2021