FALL 2020 VENTURE NEWS INSIDE ALBERTA VC RAISES ABOUND Alberta VC Raises Abound DESPITE PANDEMIC Despite Pandemic . 1 Contributed by Christiana Manzocco, AEC Alberta VC investment in Q2 and Q3 2020 have exceeded expectations with General Ecosystem . 2 the majority of deal volume attributed to several growth company mega deals. Job Postings . 2 ATTAbotics Inc. raised a $50M USD Series A led by Ontario Teacher’s Pension Fund, and AEC portfolio fund Inovia Capital investment Drivewyze raised $60M Executive Director Message. 3 USD ($81.7M CAD) from Sageview Capital. A healthy number of seed and Series A financings have also taken place, including AEC portfolio funds Azure Capital and List of Board of Directors . 4 Yaletown Partners portfolio company Showbie ($5M CAD). Upcoming Events . 4 1 . ATTAbotics Inc ,. Calgary Developer of a robotic warehousing and fulfillment system intended to reinvent the supply The Future is Female-Funded . 5 chain management. The company develops a robo-centric storage and retrieval system which Potential Impact of COVID-19 leads to saving of time, reduction of workload and speeding of the product retrievals in ware- on Canadian Venture Capital houses, enabling clients to redefine the warehouse space from large, hub and spoke systems, to small, agile and nodal delivery stations, raised $50 million USD (approx. $65.9 million Deal Terms . 6 CDN) in Series C funding led by Ontario Teacher’s Pension Plan (OTPP) on August 18, Trends IoT in 2020: part 3 . 11 2020). This raise brings total company financing to $82.7 million USD. CONTINUED ON PAGE 1 VCAA.CA | FALL 2020 C/O AVRIO CAPITAL | #502, 400 CROWFOOT CR NW, CALGARY, AB T3G 5H6 ALBERTA VC RAISES ABOUT DESPITE PANDEMIC CONTINUED. GENERAL 2 . Drivewyze, Edmonton 4 . Summit Nanotech, Calgary The leading provider of safety and efficiency Developer of lithium extraction technology ECOSYSTEM solutions for the transportation industry designed to meet the energy storage needs The Canadian Venture Capital Associa- in North America, announced today the of the future. The company’s technology tion’s (CVCA) H1 2020 Report released closing of a $60 million USD financing utilizes nanotechnology to optimize indus- August 26th, 2020 – reportedly by Sageview Capital, a growth capital firm trial processes in the energy industry to achieving the all-time best Q2 on record investing in leading tech-enabled businesses create and implement products for indus- for Canadian VC. Alberta showcased July 14, 2020. trial processes which will reduce emissions, very strong investment performance eliminate environmental contaminants and 3 . Showbie, Edmonton of $197 million, spread across 27 deals optimize inefficient processes, enabling for H2 2020. Provider of a classroom workflow platform industries to use an inexpensive and sustain- intended to help teachers and students able source of lithium for batteries that can • Q1 investment volume was $53 be more creative and productive in the be used in portable devices, mobile gadgets, million, demonstrating an increase paperless classroom. The company’s and electric vehicles, secured $1.5 million of $144 million across 16 deals in platform offers a variety of educational CDN in seed funding from undisclosed Q2 alone. At the half-way point tools to increase teacher productivity, aid investors August 10, 2020. of 2020, this aggregated H1 2020 in identifying struggling students and performance is close to the 2019 allow administrators to follow classroom Alberta VC investment in Q2 total volume of $227 million (which learning objectives, enabling teachers and was a previous record by a margin of 40%)! With a knowledge of large students to organize classroom workflow and Q3 2020 have exceeded and improve productivity and commu- recent Q3 deals, Alberta is on track nication in one convenient place. The to match H2 performance in Q3. expectations with the majority of company secured $5 million CDN in Series • Calgary was ranked 4th as a Top A funding led by Rhino Ventures and with Canadian city for Number of Deals participation from Azure Capital Partners, deal volume attributed to several ($185M, 17 deals) Point Nine Capital and other undisclosed • Edmonton ranked 5th as a Top investors August 20, 2020. growth company mega deals. Canadian city for Number of Deals ($12M, 10 deals) Calgary startup Symend’s $73 million ICT raise made the CVCA Top Deals list JOB POSTINGS in H1 2020. • SENIOR-LEVEL PROJECT MANAGER, THE A100 • Inovia Capital, Yaletown Partners The A100 is looking for a senior-level Project Manager to execute on a 6-month and Panache Ventures were ranked Special Projects contract. Reporting to the A100 Executive Director and the as some of the most active VC funds project partner, Start Alberta, the Project Manager is responsible for the execution in Canada (coming in 3rd, 9th and of tasks and deliverables that emerge from Start Alberta. The details are online. 10th respectively). • FUND ANALYST, ALBERTA ENTERPRISE CORPORATION • Alberta closed $2 billion in Private Alberta Enterprise Corporation is seeking a Fund Analyst. Alberta Enterprise Equity deals across 20 deals (sur- invest in venture capital (VC) funds that finance early stage technology passing all provinces except Quebec companies in Alberta and beyond. As a member of the Investment Team, the and New Brunswick) with 2020 Fund Analyst will support and contribute to managing and growing a portfolio of being a very strong year for PE. venture capital funds. As a follow on to the CVCA Invest Canada 2020 conference, the CVCA will be hosting curated weekly webinars If your company has employement opportunities, over the next year, with Alberta Enter- contact Rebecca to have your posting listed in prise co-hosting a webinar October 28th. our newsletter. VCAA.CA | FALL 2020 2 MESSAGE FROM THE EXECUTIVE DIRECTOR Changing Seasons, Optimism Returns REBECCA GIFFEN, EXECUTIVE DIRECTOR, VCAA The previous six months have been unlike and Athennian, with numbers on track to The StartAlberta Awards will also be taking any most of us have witnessed in our eclipse those of the first half of 2020. As place this fall and nominations will be lifetimes. However, as we all know, the world always, we ask that our membership report opening shortly for a variety of categories, keeps turning and just like that, another all of their deals to the CVCA so that we including the Rod Charko Service Award. Fall season is upon us. The venture industry can keep an accurate count of activity in The Rod Charko Service Award is presented in Alberta has shown its willingness to adapt the Province. by the VCAA on an annual basis to an to changing circumstances and has transi- individual that has gone above and beyond tioned much business to online platforms The VCAA has been able to capitalize on for the Alberta technology ecosystem. and leveraged existing relationships to keep the trend of online events this year and, to I encourage you to put forward your nomi- financings flowing. date, we have hosted several educational nations for individuals deserving of this very events for our members. We will continue special award. Alberta VC investment to date in 2020 with this offering through the fall, with a has exceeded expectations to say the least. VCAA hosted speaker series. More details As always, I wish everyone all the best and According to the CVCA (2020), Alberta will be coming soon, so please watch for hope that you, and your families, keep closed out the first half of 2020 with 27 details. Looking forward to 2021, we are healthy and safe. financings occurring for a total of $197M optimistic that we will be able to host our Best Regards, invested in the Province. During Q3, 2020, annual winter event on February 23rd and Rebecca Giffen we already know of several large financing 24th, 2021. Please also mark the dates in rounds, including Attabotics, Drivewyze your calendar and watch for further details. BECOME A MEMBER TODAY Add your voice to our membership of BENEFITS INCLUDE: senior veterans of Venture Capital and • Being part of a network that helps drive deal flow in Alberta. Private Equity industries, new generation • Access to an industry body where you can have your concerns heard. venture capital firms, private equity • Making important connections that help your business thrive. investors, and angels that are driving • Professional development and value-added industry events. technology deals in the Alberta economy. • Discounts to attend complimentary and industry events. Email Rebecca at [email protected] to apply today! VCAA.CA | FALL 2020 3 UPCOMING EVENTS FOR UP-TO-DATE EVENTS LISTINGS VISIT OUR WEBSITE START-UP EDMONTON VCAA FALL SPEAKER SERIES ACCELERATEAB LAUNCH PARTY Fall 2020. September 29 - 30, 2021 October 22, 2020 vcaa.ca Calgary, AB Launch Party showcases Edmonton’s The annual conference brings brightest entrepreneurs, their products VCAA AGM together leaders, investors, influ- and celebrates our startup community. 2020 encers and supporters of Alberta’s Since 2010, more than 95 technology Calgary, AB technology ecosystem, with the goal companies have launched products vcaa.ca of leveraging the success of the next at the event, including rapidly growing generation of technology entrepre- teams like ZEPT, Jobber, Drivewyze, neurs across the province. Poppy Barley, and Showbie. STARTALBERTA accelerateab.com edmontonstartupweek.com TECH AWARDS November 16, 2020 The 3rd annual event recognizes BANFF VENTURE FORUM AEC / CVCA MERGERS & individuals and organizations for their October 5 - 8, 2021 ACQUISITIONS DURING contributions to Alberta’s innovation Providing the hottest emerging tech- A PANDEMIC WEBINAR ecosystem and making a significant nology companies with unparalleled October 28, 2020 impact on the province’s tech sector. visibility and an opportunity to present Panel discussion with Kristina Williams startalberta.com to leading private equity and venture and Kim Furlong Deal Debrief of “Inside capital investors from across North the Mind of a Seller”; the pandemic’s America.