$4.6 billion. That’s how much Canadian tech companies raised in VC funding in 2018. A record for our country’s thriving sector.
With 2019 well underway, we are already seeing a trail of impressive raises. This week, DMZ startups got a boost with a number of rounds. Here’s the latest on who raised how much, and from whom.
Roofr lands a $4 million seed round
After completing the Y Combinator program, Roofr, a new type of roofing service that uses aerial imagery to provide customers with a free roofing estimate online, announced it raised $4 million led by CrossLink Capital and a line of angel investors.
Currently serving the Bay Area, the entire state of Florida and the province of Ontario, the company plans to use the funding to expand its reach to new marketplaces and has its eyes on the state of Texas. The company will also be growing its engineering, sales and marketing teams.
NXM raises $7.7 million
NXM Labs Inc., an autonomous security and data integrity company, announced the close of its $CAD7.5 million pre-series A funding led by Cedarpoint investments Inc.
With the IoT industry on track to be one of the fastest moving technology sectors in history, this financing comes at the perfect time. The company will commercialize their award-winning NXM SecureSuite software platform that enables connected devices and systems to manage their own security in order to continue to ward off hackers.
EnergyX raises for further expansion in the U.S.
EnergyX Solutions, an online energy auditing platform, has raised $500,000 from MaRS Investment Accelerator Fund following a $1.3 million raise in August 2018.
Already working with companies like Enbridge, Gas Distribution and CLEAResult, the Toronto-based startup is putting their money towards further expansion in the U.S. where there is a larger market to tap into.