Ph03nix and Psyko secure $2 Million in AVAC Funding

Posted by Rob Lewis

AVAC Ltd. announced today that they have invested in two new Calgary-based companies through their IVAC investment initiative.  The IVAC Board Committee has approved funding of $1.1 Million for Ph03nix New Media and $975K for Psyko Audio Labs.

Ph03nix New Media is a game developer that is creating a new online game with educational value to kids and teens which should be available online in late 2009. Ph03nix Founder Jon Lam was named to Techvibes Digital Media People to Watch in Alberta list for 2009.

Psyko Audio Labs has created the Psyko 5.1 PC gaming headset which has won numerous awards for their product including Innovations Design and Engineering. The new head set will be available to gamers in early 2009.

AVAC was created to grow Alberta's value-added industry with initial financial support of $35 Million from the Alberta government in 1997 and a federal commitment of nearly $10 Million from the Government of Canada in 1998. A subsequent $10 Million was advanced from Agriculture and Agri-food Canada in 2005.

IVAC is a new investment initiative from AVAC which provides investment and other assistance to Alberta businesses in the ICT, life sciences and other industrial technology sectors to help them get to the best possible start in their fields. The fund addresses a shortage of available funding from third-party investors for new and existing companies and also provides mentoring, marketing and operational guidance and other support to help Alberta businesses become competitive in both local and global markets.

Company:
Psyko Audio Labs Inc.
Website:
http://www.psykoaudio.com/
Location:
Calgary, Alberta, Canada

Psyko Audio Labs is developing headphones for computer and console gamers. The technology delivers highly accurate directional audio so that you know instantly where every sound comes from and lets you react faster and improves your game performance. more

Company:
Ph03nix New Media Inc.
Website:
http://ph03nixnewmedia.com
Location:
Calgary, Alberta, Canada

Our goal is to inspire the world to learn. But that inspiration must start with you. Be inspired. And let that inspiration flow through everything that you do. Make software that inspires adults & kids to want to learn more. more

Company:
AVAC Ltd.
Website:
http://www.avacltd.com
Location:
Calgary, Alberta, Canada

AVAC Ltd. is a private not-for-profit company that invests strategically in promising early-stage commercial businesses focusing on the expansion of Alberta’s value-added agri-business, ICT, life sciences, and other industrial technology sectors. AVAC also participates in commercially-relevant agricultural research and is a strategic fund-of-fund investor in early stage venture capital. Created in 1997, AVAC has... more


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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media and Editor-in-Chief of Techvibes.com.  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can be... more




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