Vancouver’s tech and innovation sectors already seen strong recovery and growth this year.
Our snapshot captures local companies from various sectors in different stages of growth—from digital collectibles to plant-based meal-kit delivery.
The following 17 Vancouver companies have raised a combined total of over $1 billion since the beginning of this year.
Crypto company Dapper Labs boasts high-profile investors like Michael Jordan and Will Smith in its recent $305 million funding round. Their newest marketplace, NBA Top Shot, has been a hit in the digital collectibles world—much like Cryptokitties, the company’s other extremely popular platform.
D-Wave – $40M
Quantum computing company D-Wave was granted a cool $40 million from the federal government, as part of Ottawa’s Strategic Innovation Fund. The Burnaby-based company has now been around for 22 years.
Dooly – $20M USD
Dooly recently revealed two separate raises not previously disclosed: a $3.3M seed round plus $17 million Series A. Dooly’s CEO describes the sales automation tool as “replacing 😤😡🤬 with 🤩🥰🥳 for salespeople” on LinkedIn.
Fraction Technologies – $289M
Fraction bills itself as a “social conscious financial solutions” platform, and has raised an astounding $289 million to launches in Canada and the US. It’s no wonder that the pandemic has increased interest in alternative funding sources for harried homeowners.
Graffiti Games – $1.5M
Specializing in indie video game publishing, Graffiti Games grew with early hits like adventure-platformer Blue Fire, which is now being ported to other platforms. Despite the pandemic, last year Graffiti reported a 10% revenue raise over the previous year.
Kardium – $115M USD
Medical hardware company Kardium has raised a cool $115 million USD to fuel the development of a device that treats atrial fibrillation (AF)—an irregular heartbeat disorder. Kardium’s funding is to progress its clinical studies in Europe and seek US regulatory approval.
Launchtrip – $4.7M
Betting on the fact that travel will come back in a big way soon, Launchtrip’s app focuses on improving the booking process for group travel. The company’s $4.7M seed round is a sign of investor confidence that the travel and hospitality space will rebound shortly post-COVID.
MazumaGo – $ 800,000
Victoria-based fintech startup MazumaGo has raised a seed round of over $800,000. The company intends to disrupt the Canadian B2B payments sector by doing away with paper cheques and manual processes on large payments.
NEXE Innovations – $8M
NEXE, an “innovative materials company” that manufactures plant-based products, has quietly raised $8 million. The company’s main product is a compostable single-serve coffee pod, for all of your guilt-free caffeine indulgences.
The fourth round of funding for this green construction startup, the $33 million injection ($66 million raised to date) will lead to the opening of a new production facility in Squamish. Nexii’s replacement for concrete, “Nexiite,” can lead to lowered carbon emissions, in select new building or renovation applications.
ParcelPal – $1M USD
Logistics companies have seen a big boom as Canadian consumers are ordering more and more online, and ParcelPal’s over $1 million USD financing is further evidence that the new demand is here to stay. The company currently operates in Vancouver, Calgary, and Toronto, and plans to expand nationally soon.
PocketPills – $30M
Telehealth in Canada has come a long way in a relatively short time. It’s no wonder that PocketPills, “Canada’s largest and fastest-growing online pharmacy,” experienced 5x growth in 2020. The Series B $30 million raise will broaden product offerings and further work towards the comapny’s vision of nationwide same-day delivery.
“Tinder is your parents’ dating app,” states Snack founder Kimberly Kaplan. And since investors love chasing anything Gen Z, the video-focused dating app has secured a pre-seed round of $3.5 million USD to woo the TikTok crowd.
Tasktop – $100M USD
Tasktop Technologies improves software development processes for enterprise customers like BMW, CGI, E*Trade, and T-Mobile. Tasktop’s platforms have already been deployed by half of the Fortune 100, helping businesses improve software delivery and oversight.
Vegano Foods – $4.2M
Vegano Foods, Canada’s first plant-based meal-kit delivery service, has raised a Series A of $4.2 million, bringing total funding to $6 million. The 1-year old company is starting with meal delivery across Metro Vancouver before expanding to other markets.
Visualping – $2M
Internet monitoring startup Visualping is in the business of tracking changes to websites, mostly through keywords and alerts to its subscriber base. The $2 million seed round will help the 6-year old company expand on its enterprise products for companies.
ZenHub – $4.7M USD
Project management development platform ZenHub has raised a seed round to further their mission of “building a future where nobody has to ‘do’ project management.” The company was previously self-funded and already profitable at the time of the raise.
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