Today, more than $20 million was invested in eight Toronto startups. About $5 million of that is coming from The Federal Economic Development Agency for Southern Ontario, which is vying to boost the local creative economy, with the remaining $15 million coming from venture capital groups. This is a rare but beautiful case of government and private capital working closely together to power budding companies.
1. StickerYou received $539,305 from FedDev, $500,000 from an unnamed venture capital firm and $1-million from IntelliVest.
2. Futurestate received $500,000 from FedDev, $1-million from the MaRS Investment Accelerator Fund and angel investment from members Maple Leaf Angels.
3. Fuse Powered received $500,000 from FedDev, $1-million from BlackBerry Partners Fund.
4. Shiny Ads received $197,500 from FedDev, $395,000 from York Angel Investors and Maple Leaf Angels.
5. Trillium Therapeutics received $965,000 from FedDev and $2 million from Covington Capital, GrowthWorks, and BDC Venture Capital.
6. Profound Medical received $867,000 from FedDev and $7.5-million from Genesys Ventures, BDC Venture Capital, MaRS Investment Accelerator Fund, and Tri-Color Venture Fund.
7. Axela received $708,333 from FedDev and $2.125-million from VenGrowth Capital.
8. Field ID received $575,000 from FedDev, $500,000 from the BDC and $1.15-million from the IntelliVest Angel Group.