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R&D Tax automation pioneer Boast.ai sets eyes on Montréal to scale
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Boast.ai, an innovative software developer that helps companies automate the process of preparing and financing research and development (R&D) tax credit claims, is continuing its growth with a new team in Montréal.
The company plans to hire up to 25 professionals in its engineering, customer success, and sales teams over the next 12 months.
Boast.ai’s flagship product is a platform that uses artificial intelligence to automate the process of applying for R&D tax credits. It has recently secured CA$30 million in Series A funding from Radian Capital, a growth-stage fund specializing in enterprise software, combined with a CA$125 million credit facility from Brevet Capital, a leading alternative credit investment and specialty finance firm.
Milwaukee County Transit System selects Nova Bus to supply 15 electric LFSe+ buses -- a first LFSe+ order for Nova Bus in the U.S
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MONTREAL, March 11, 2021 /CNW Telbec/ - Nova Bus, leading North American transit bus manufacturer, is pleased to announce it was selected to supply 15 LFSe+ buses, Nova Bus' long range electric buses, by the Milwaukee County Transit System (MCTS), the largest transit agency in Wisconsin and primary transit provider for Milwaukee County. This is Nova Bus' first order of electric LFSe+ buses in the United States.
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"Congratulations to Nova Bus for their first sale of an electric bus fleet in the United States. We take great pride in this recognition of Québec innovation and excellence in sustainable transportation. Efforts in decarbonization in the United States and in the Midwest represent long term opportunities for Québec gems, like Nova Bus, who provide green, North American solutions to such critical sectors like public transportation. We obviously intend to continue to support them as they conquer new markets and to promote the savoir faire Québécois," Martine Hébert, Québec Delegate in the Midwest.
Montreal-based Heyday announced today that it has raised $6.5 million Canadian ($5.1 million in US dollars) in additional seed funding.
Co-founder and CEO Steve Desjarlais told me that the startup’s goal is to allow retailers to bring more automation and more personalization to their online customer interactions, while co-founder and CMO Etienne Merineau described it as an “all-in-one unified customer messaging platform.”
So whether a customer is sending a message from Facebook Messenger, WhatsApp, Google’s Business Messages or just via email, Heyday brings all that communication together in one dashboard. It then uses artificial intelligence to determine whether the message is a customer service or sales-related interaction, and it automates basic responses when possible.
TELEHEALTH STARTUP DIALOGUE TO GO PUBLIC ON TORONTO STOCK EXCHANGE, TARGETS $100 MILLION IPO
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Montréal-based Dialogue filed its preliminary long-form prospectus on Monday for a proposed initial public offering (IPO). UPDATE 10/03/2021: Today, Dialogue has set a target of $100 million for its IPO and hopes to issue between 8.33 million and 11.11 million shares at a targeted price of between $9 and $12 per share.
Dialogue was founded in 2016 and incubated in Diagram Ventures. It offers a telemedicine solution targeted to employers, with services to access front-line healthcare providers through its virtual care platform.
New venture capital fund to support the creation and growth of next-generation technology flagships
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MONTREAL, Feb. 17, 2021 /CNW Telbec/ - Quebec welcomes a new player in its innovative ecosystem with the launch of Boreal Ventures, the first venture capital fund dedicated to high-tech ("deep tech") companies in Quebec. Created in partnership with Centech, a Montreal-based incubator specializing in technology, this fund will support the development of companies in the pre-seed and seed stages in science and engineering. With an initial investment capital of $26 million, Boreal Ventures will support companies that emerge from Centech and Quebec's innovative ecosystem. The start-ups targeted by this new fund operate in applied science (deep tech) sectors such as artificial intelligence, medical technologies, industry 4.0, and connected objects.
Premier Tech and Mirego Join Forces to Accelerate the Digital Transformation of Businesses
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RIVIÈRE-DU-LOUP, QC, March 11, 2021 /CNW Telbec/ - Premier Tech and Mirego are happy to announce they are joining forces to accelerate their growth and extend their digital service offer. For Mirego, this union means a vitalization of its current growth plan through the diversification of its digital offer, whether on the Quebec or the global market. For Premier Tech, this partnership will accelerate the creation of an array of products and services that will complement the offer of its Digital business group.
A Local Union for a Global Impact
Mirego's team will improve its current services and operations. They will also keep on supporting their clients through their digital transformation. With more than 13 years of experience in the industry, Mirego will now share its knowledge and collaborate actively with Premier Tech, who now becomes a majority shareholder of the company. As a result, this will allow Premier Tech to accelerate the creation of digital solutions that will better support its clients throughout the world.
X2O Media and TransMedics Announce Successful Deployment of X2O Collaboration Room
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MONTRÉAL, March 10, 2021 /CNW/ -- X2O Media, a global provider of virtual collaboration technology for enterprises, and TransMedics Inc., a medical technology company transforming organ transplantation, today announced the successful installation of the X2O Collaboration Room to provide an immersive virtual training environment to the clinical users of their life-saving Organ Care System (OCS™) technology around the world. TransMedics selected X2O Media, part of the STRATACACHE family of technology companies, to provide a purpose-built virtual collaboration room.
X2O Media collaborated with integrator partner IMT Global to install the custom-built hybrid virtual training room. Leveraging the X2O Collaboration Room, enables TransMedics to provide continuous high-quality education and training to their worldwide audience of transplant surgeons and clinicians.
Montreal-based healthtech startup AlayaCare has acquired fellow Toronto healthtech company AcuteNet. The acquisition closed earlier this month, and the terms of the deal were not disclosed.
AcuteNet specializes in International Resident Assessment Instrument for Long-Term Care Facilities (interAI), a system that standardizes the approach and language used by healthcare providers across settings. Through the acquisition, AlayaCare aims to leverage over 10 million new structured clinical assessments and data points to drive new AI initiatives and improve patient outcomes.
Based on the south shore, one of the countries longest-operating private equity firms has announced the creation of its largest ever fund, TMT VI, at nearly CAD $2.4 billion.
The announcement comes on the heels of Nuvei’s recent IPO last fall. Novacap’s initial investment of $300 million in Nuvei is now worth more than $2.7 billion today according to the Globe and Mail (TSX:NVEI.TO). Nuvei was the largest ever IPO of a Canadian technology company, with a current market capitalization of CAD $10.3 billion. Novacap has also celebrated its recent exits of Intelerad and PKWare.
Due to Novacap’s impressive returns of late, demand was so strong for this fund that it was oversubscribed by nearly a 2-to-1 margin, having been initially planned as a fund of USD $1 billion. Investors in the new TMT VI include sovereign wealth funds, public and corporate pension plans, insurance companies, endowments, foundations, family offices and many others. The Globe’s report explains that about 70% of the backers for the new fund are from outside Canada.
Lion Electric will build 10 electric buses for LAUSD
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St. Jerome’s Lion Electric will build 10 electric buses for the Los Angeles Unified School District, the second-largest school district in the United States. The buses are expected to be delivered in spring 2021.
The LAUSD can prove to be a fruitful customer for Lion, the electric vehicle (EV) producer that makes electrified buses and trucks. The LAUSD counts roughly 633,000 students in their system, second only to the New York City School System.
Amazon to purchase up to 2,500 Lion Electric vehicles, can acquire 20%
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St. Jerome, Quebec’s Lion Electric will produce a giant order for Amazon for up to 2,500 all-electric Lion 6 and Lion 8 trucks by 2025. Moreover, Lion Electric will go public by merging with SPAC Northern Genesis Acquisition Corp, led by the same founders of Algonquin Power.
Because Lion Electric will go public, Amazon has the option to purchase upwards of 19.98 percent of the company through shares and warrants, if they purchase $1.1 billion worth of products.
“It’s been a good week for us,” Lion Electric’s Patrick Gervais told MTLinTECH. “It’s been quite busy and one good news after another. Things are moving forward really rapidly and we’re very excited about what’s happening.”
Lion Electric will also provide maintenance and training for Amazon.
Montreal electric jet-ski maker Taiga Motors plans to go public through a merger with a “blank-check” SPAC company while raising $100 million in the process.
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The move is emblematic of companies taking advantage of investor demand for environmentally-friendly vehicles.
“Taiga’s mission is to revolutionize the powersports industry with all-electric, off-road vehicles that outperform peers without sacrificing the environment,” said CEO Sam Bruneau. “We plan to accelerate our existing production capabilities and execute on our pre-orders while moving full speed ahead with plans for a second, mass-production facility, which will significantly increase our capacity by 2025.”
Taiga will have an implied market capitalization of about $537 million (US$422 million) after the combination with the Canaccord Genuity Growth II Corp. That valuation includes a $100 million private placement with investors including John Risley’s Northern Private Capital.
Canscan selected to Washington’s maritime accelerator
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Montreal AI startup Canscan has earned a ticket to the state of Washington’s upcoming Maritime Accelerator program.
Canscan’s AI technology automatically inspects shipping containers passing through a terminal using existing cameras and infrastructure. It can optimize container handling processes and speed-up a company’s workflow.
The company’s IoT solution actually allows checkers to work remotely, in real time, to identify container anomalies.
The Maritime Accelerator program will be completely virtual this year, its second year in operation. More than 100 startups applied, and 11 participants were ultimately picked.
Holy crap that is a lot of news! It makes me even more confident that I'll be opening my own business in Montreal soon. I also love that new transit system going on there, which is another big part as to why I selected Montreal. My family and I are trying to be more environmentally conscious, so once we move, we'll sell our cars and rely on public transport, which is something you hardly find in the South. Another question tho, why aren't investments and all these news publicized as much? even my own partners didn't know Montreal had all these investments until I showed them this thread, Djesus007 posts and everything. But it definitely needs to be publicized more ASAP cause more people need to know what is going on. One of my other partners wanted to go to Miami since it is always in the news now, but after all these posts and everything going on there being smoke screens, they had a change of heart. Anyways, happy with the news! makes me excited.
Lightspeed to expand Asia-Pacific presence with $350M purchase of Vend
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MONTREAL -- Lightspeed POS Inc. says it has reached agreement on an acquisition valued at $350 million that will beef up its presence in Asia-Pacific.
The Montreal-based e-commerce company says it will buy New Zealand-based VendLimited, a cloud-based retail management software company, that will about double its customer base and expand its retail footprint in the region.
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