Total Early Stage Private Equity Deals up in Sept, but total value down
September Recap
Early Stage Private Equity Deals up in Sept, but total value down
Updating our deal data from last month we saw the total deal value in September drop from $140M last month to $116M. This was spread across 30 deals (spanning Pre-Seed, Seed and Series A) an increase of 6 month over month.
August represented the slowest month for deals so it was good to see a bounce back in September albeit still well below the average of 47 over the first 7 months of the year.
In this months early stage private investment overview, AI focused companies continue to secure funding. In fact, over $40M from the top 5 rounds went to AI-focused companies. 2 are Toronto based, Secoda and Lemurian Labs, while GeologicAI, who raised $10M for their AI powered core sampling technology, is based out of Calgary.
The top 5 raises are rounded out by Pollin Fertility ($20M) a personalize fertility company and Oneka Technologies ($12.5M) out of Sherbrooke that has a floating desalination technology.
EXRO Technologies (EXRO:TSXV)
Exro has successfully commenced the production of its groundbreaking Coil Driver™ inverter technology designed for electric vehicles at its cutting-edge manufacturing center in Calgary, Alberta. This advancement promises to redefine the electric vehicle landscape, with early tests already showing a significant range improvement over existing technologies.
Key Bullet Points:
Initial production is supported by purchase orders from Italian OEM supplier HB4 Group.
On-road testing with HB4 Group indicated a 20% range increase over older technologies.
Following low-voltage production for HB4, high-voltage systems will be supplied to Vicinity Motor Corp for e-bus applications.
Exro aims to collaborate with partners across Canada, Europe, South America, and the US, tapping into the potential $45 billion commercial e-vehicle market.
For our latest post on EXRO click HERE
SHARC Energy Systems (SHRC:CSE)
SHARC announced he addition of renowned sustainable architect Peter Busby to the board of directors. Peter has a rich history of advocating for sustainable design in Canada and as a principal at Perkins & Will. Busby's addition aims to boost SHARC Energy's engagement within the architectural community and enhance the integration of Wastewater Energy Transfer Systems for sustainability.
For our latest post on SHARC click HERE
Alchemy Grills
Raising $1.5mm in equity and $5mm in debt
Alchemy Grills are looking to disrupt the North American grill market with they innovative, and eye catching combo smoker, grill and plancha. They have the backing of Toronto chef, author and TV personality Matt Basile as well as a number of industry veterans from other grill companies and BBQ distributors helping them navigate the full scale launch of their 32” and 22” grills.
First run of inventory is 95% sold
Securing financing for much larger shipment of grills to meet demand from the high season in spring.
Launch of their 22” grill set for next year
For our introductory post on Alchemy click HERE
Zyng Corp
Raising $1.0mm in equity
Zyng Corp is a disruptive Calgary based fintech company that aims to disrupt the traditional independent automated teller machine (ATM) industry by evolving ATMs into Smart Kiosks. These Smart Kiosks are essentially multi-functional ATM machines that provide a host of financial services beyond dispensing cash.
For our introductory post on Zyng click HERE
Refresh Resources
Raising $1.5mm in equity ($300K raised)
Refresh Resources is a producer water pond remediation company that has a proprietary solution that is non-invasive and a cost-effective way of removing the contaminants found in produced water ponds in the oil & gas industry.
For our introductory post on Refresh Resources click HERE
InnerVision
Raising $1.5mm in equity ($500K raised)
InnerVision is a downhole tool that uses medical grade ultrasound imaging to provide clear images of casing, cement, threads and into the reservoir.
Key Points:
· InnerVision has secured some government grants that will allow it to complete the construction of its first tool. Independent testing is planned for later in 2023.
· Ongoing talks with ADNOC and the applicability of the tool in their onshore/offshore operations.
For our introductory post on InnerVision click HERE
SOMÉ
Raising $3mm in equity ($1.5mm raised)
SOMÉ is a leading luxury wellness brand that has dedicated itself to enhancing the quality of sleep by combining advanced technology and science-infused fabrics in the sleepwear and bedding space.
For our introductory post on SOMÉ click HERE