Last week Techvibes reported from Extreme Startups Demo Day event in Toronto that Extreme Startups alumni Sciencescape has quietly raised $3 Million.
Sciencescape, Picatic, and ShopLocket had been selected by the accelerator to provide "alumni updates" on their progress and while Sciencescape's raise was impressive we noted that ShopLockets's last minute absence - founder Katherine Hague was scheduled to appear - was foreshadowing of something brewing.
It turns out we were right.
Tonight TechCrunch reported that Toronto-based ShopLocket has been acquired by PCH International. The exact terms of the deal, under which ShopLocket will continue to operate under as a sub-brand, are undisclosed.
ShopLocket is an e-commerce platform originally designed to let anyone sell anything from a single item to a line of goods quickly and easily via their existing presence on the web.
PCH International was founded by Irish entrepreneur Liam Casey and has made its name operating as the go-between for major electronics brands and their Asian supply partners and manufacturers.
While TechCrunch's Darrell Etherington called the company match "odd" he noted that perhaps PCH isn't such an "unusual suitor".
ShopLocket recently launched its own pre-order sales platform to help hardware startups capitalize on the inertia generated by crowdfunding campaigns. Casey told TechCrunch that ShopLocket “closes the loop” that begins at his hardware accelerator, Highway1, giving startups a complete solution for creation, development and sales of their products.
ShopLocket raised a $1 million seed round in 2012 led by Rho Canada Ventures and Valar Ventures with participation from BDC Capital, Relay Ventures, Extreme Venture Partners and a group of private investors.