Health Wave Closes Seed Round Exclusively with Ottawa Investors

Posted by Techvibes NewsDesk

Ottawa-based startup Health Wave announced this morning that they have closed a seed investment round led by local technology accelerator Mercury Grove and other local angels.

The Canadian startup was one of four startups selected by Mercury Grove last month to join their portfolio. 

Health Wave is a turnkey mobile-commerce platform that makes it easy for health professionals to sell natural health products without carrying inventory. Health Wave's platform for Naturopathic Doctors has an annual run rate of more than $1 million in transactions with a high percentage of repeat orders. The company will use the funds to expand into the US and increase their customer base.

"Health Wave is clearly the future of health-related product distribution," says Scott Annan, managing director of Mercury Grove. "Health Wave combines mobile, e-commerce, and virtual inventory with real-time distribution to make it inexpensive and simple for doctors, patients, and health product manufacturers. I am particularly impressed with the quality of the team and the progress they've made in such a short time."

The Ottawa company plans a full launch across the US in early September. They're also hiring: the startup is seeking both a user interface designer and a software engineer through the Techvibes Job Board.

Company:
Mercury Grove
Website:
http://www.mercurygrove.com
Location:
Ottawa, Ontario, Canada

We believe in providing a better technology experience through great software and exceptional support. Mercury Grove develops software and provides professional consulting for medium and large businesses in the US and Canada. We currently have offices in Lexington, Kentucky, and Ottawa, Canada and a distributed team across North America and Asia. We opened our doors in 2005 as a small consulting company focused on... more

Company:
Health Wave
Website:
http://www.healthwave.co
Location:
Ottawa, Ontario, Canada

Health Wave aims to make the consumption of natural health products a staple in society. Their turn key e-commerce platform makes it easy for health experts and advocates to sell natural health products without having to hold product in inventory. The founding team has a long history of working together, from cycling across Canada for charity to building successful companies such as Simple Story Videos. more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more



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