BDC

BDC Capital Inc., established in 1975, is a private equity and venture capital arm of the Business Development Bank of Canada. It specializes in direct and fund of funds investments, focusing on middle market, later stage, and emerging growth companies. BDC Capital provides a full spectrum of risk capital, from seed investments to transition capital, with a focus on early and development technology stage companies. It invests in healthcare, information technology, and industrial/energy/clean technology sectors across Canada, with a focus on Quebec, Ontario, and British Columbia. BDC Capital typically invests between CAD3 million and CAD35 million, preferring minority stakes and Board representation. It seeks to exit investments within three to five years through IPOs, strategic sales, or leveraged management buyouts.

Dinar Ahmed

Partner

Réjean Asselin

Assistant Vice President, Portfolio Management - Growth and Transition Capital

Amine Benmoussa

Principal

Disha Bhargav

Associate Director, Fund Investment

Jeremy Billan

Partner, Growth Equity Partners

Ela Borenstein

Vice President, Venture Capital Incentivized Programs

Kristina D'Amico

Director, Fund Investments

Nicolas Gravel

Partner

Vivian Kan

Partner

Karim Kennedy

Director - Cleantech Practice

Leonard Kofman

Partner, Intellectual Property-Backed Financing

Pascal Lanctot

Partner, Climate Tech Fund

Nicole Leite

Principal

Mark Lunick

Senior Director, Growth and Transition Capital

Guillaume Mercier

Senior Vice President, Advisory Services and Business Strategy

Simon Mills

Director, Growth and Transition Capital

Claude Miron

Managing Partner - Growth Equity Partners

Anamika Mukherjee

Partner of Industrial, Clean and Energy Technology Venture Fund

Mike Notto

Partner, Growth Equity Partners

Jean-Philippe Poissant

Managing Director, Growth and Transition Capital

Salman Qadir

Associate Principal, Industrial, Clean and Energy (ICE) Technology Venture Fund

Karl Reckziegel

Senior Vice President

Lally Rementilla

Managing Partner, IP-Backed Financing

Susan Rohac

Managing Partner, Climate Tech Fund

Paul Ryan

Senior Director

Matt Stanley

Partner, Climate Tech Fund

Stephanie Tadros

Associate Director, Fund Investments

Zoltan Tompa

Senior Partner

Maxime Tourangeau

Partner, Growth Equity

Ron Warburton

Managing Partner

Brian Whiteway

Senior Director, Growth and Transition Capital

Angelo Zeni

Managing Director, Growth and Transition Capital

Past deals in Industrial Automation

Xaba

Seed Round in 2025
Xaba is a developer of automated technology focused on sustainable manufacturing. The company creates innovative processes, control systems, and materials that enhance manufacturing efficiency through automation. By leveraging AI-driven control systems, Xaba provides industries and manufacturers with safer and more convenient options, improving the performance and quality of produced goods. Its commitment to sustainability positions Xaba as a key player in the evolution of modern manufacturing practices.

Forcen

Series A in 2024
Forcen Inc. is a Toronto-based company that develops and manufactures innovative force-sensing film technology for various applications, including surgical robotics, industrial robotics, and aerospace and defense. Founded in 2015, Forcen specializes in providing real-time force feedback, allowing users to accurately gauge the force applied during surgical procedures or industrial tasks. This technology can be seamlessly laminated onto medical devices and robotic systems, enhancing their performance and safety. By delivering precise data on force and torque, Forcen aims to improve operational efficiency and reduce complications in both medical and industrial environments.

Xaba

Seed Round in 2024
Xaba is a developer of automated technology focused on sustainable manufacturing. The company creates innovative processes, control systems, and materials that enhance manufacturing efficiency through automation. By leveraging AI-driven control systems, Xaba provides industries and manufacturers with safer and more convenient options, improving the performance and quality of produced goods. Its commitment to sustainability positions Xaba as a key player in the evolution of modern manufacturing practices.

4ag Robotics

Series A in 2023
4AG Robotics specializes in developing robotics and automation systems aimed at enhancing agricultural processes. The company focuses on providing vision-guided robotics solutions for various activities, particularly in mushroom harvesting, which includes tasks such as picking, trimming, and packaging. By automating these labor-intensive and often hazardous jobs, 4AG Robotics helps agricultural businesses improve efficiency, increase yields, and ensure a safer working environment. Their technology is applicable across a range of industrial sectors, contributing to advancements in throughput, quality, and overall operational safety.

Ambyint

Venture Round in 2023
Ambyint Inc. is a Calgary-based company that specializes in artificial lift optimization solutions for exploration and production (E&P) companies in the oil and gas industry. Founded in 2004 and previously known as PumpWell Solutions Ltd., Ambyint offers advanced software products, including the Amplify Real-Time Controller and the Infinity Optimization Platform. These solutions leverage artificial intelligence and physics-based analytics to automate diagnostics, adjust operating parameters, and predict potential failures, thereby enhancing production and reducing operating expenses. Ambyint's technology integrates with existing supervisory control and data acquisition (SCADA) systems or can be utilized with its High Resolution Adaptive Controllers, enabling improved data acquisition and automated control of artificial lift systems. With over a decade of domain expertise, Ambyint aims to deliver significant improvements in production outcomes and operational efficiency for its clients.

Xaba

Seed Round in 2023
Xaba is a developer of automated technology focused on sustainable manufacturing. The company creates innovative processes, control systems, and materials that enhance manufacturing efficiency through automation. By leveraging AI-driven control systems, Xaba provides industries and manufacturers with safer and more convenient options, improving the performance and quality of produced goods. Its commitment to sustainability positions Xaba as a key player in the evolution of modern manufacturing practices.

Vention

Series C in 2022
Vention Inc. is a digital manufacturing platform based in Montreal, Canada, that simplifies the design and ordering of custom machines. Established in 2016, the company provides a cloud-based 3D Machine Builder, which allows engineers and manufacturing professionals to design, order, and assemble custom factory equipment quickly. This platform features an extensive library of modular parts, including structural, motion, and control components, facilitating the creation of automated equipment, robot cells, tooling, and conveyors. Additionally, Vention's offerings include MachineMotion, which aids both automation specialists and novices in automating their designs. By integrating artificial intelligence to enhance the design process, Vention enables users to program, simulate, and commission automated equipment within a single digital environment, making industrial automation more accessible.

Smart Skin Technologies

Venture Round in 2021
Smart Skin Technologies Inc. is a technology development company based in Fredericton, Canada, with an additional office in Munich, Germany. Founded in 2009, the company specializes in the development and commercialization of a pressure-sensitive skin technology that has diverse applications. Its flagship product, Quantifeel, is a packaging pressure monitoring system designed to measure line pressure and 3D orientation in various types of packaging, including glass, cans, and PET. In addition to its existing products, Smart Skin Technologies is actively developing patent-pending pressure sensing technology for industrial applications and sports, aiming to expand its footprint across multiple verticals.

Novarc Technologies

Debt Financing in 2021
Novarc Technologies Inc. is a Vancouver-based company specializing in the design and manufacture of innovative robotic solutions for industrial applications, particularly in pipe welding. Established in 2013, Novarc has made significant advancements in collaborative robotics, offering products such as the Spool Welding Robot, which is recognized as the first of its kind for pipe welding. The company also provides custom robotic solutions for various applications, including arc welding, food and beverage handling, and palletizing. With a dedicated team of engineers and scientists, Novarc Technologies aims to address complex industrial automation challenges through the development of collaborative robots and artificial intelligence systems.

Weever

Venture Round in 2021
Weever Apps specializes in providing software solutions that digitize processes, electronic forms, and inspections, significantly reducing the reliance on paper in manufacturing environments. The company's operations management platform automates administrative tasks, streamlining workflows to enhance productivity and efficiency. By targeting data-intensive processes such as inspections and training, Weever enables organizations to unlock the full potential of their frontline employees, allowing for better tracking and management of recorded results. This technology addresses the need for more efficient operations in industries where paper-based systems remain prevalent.

CoolIT Systems

Venture Round in 2021
CoolIT Systems Inc., based in Calgary, Canada, specializes in designing, engineering, and manufacturing direct contact liquid cooling technologies for data centers, servers, and desktops. The company offers a variety of cooling solutions, including CPU and GPU coolers, liquid-to-liquid heat exchanges, liquid-to-air heat exchanges, and all-in-one liquid CPU coolers. Its products cater to high-performance computing, cloud, and enterprise markets, serving industries such as finance, oil and gas, research, and big data. CoolIT Systems focuses on delivering next-generation cooling products that meet high standards for reliability and maintenance-free operation, utilizing patented split-flow technologies to enhance rack densities, component performance, and power efficiency. The company collaborates with engineering groups, including AMD, to provide reference cooling solutions for advanced video cards. Founded in 2001, CoolIT Systems continues to innovate in the cooling technology sector both in Canada and internationally.

Canvass AI

Series A in 2020
Canvass AI is an AI-based platform focused on enhancing industrial operations. The company offers scalable AI solutions that empower industrial engineers and operators to improve quality, optimize processes, and reduce energy consumption in their daily activities. By providing actionable insights and real-time guidance, Canvass AI enables production teams to adopt AI technologies without needing extensive data science expertise. Its platform complements existing industrial systems, helping companies in sectors such as oil, gas, chemicals, and manufacturing to enhance operational performance, gain a competitive edge, and achieve new sustainability standards.

Praemo

Venture Round in 2020
Praemo Inc. is a technology company based in Kitchener, Canada, founded in 2017. It specializes in developing advanced detection technology designed to analyze industrial data across various sectors, including manufacturing, automotive, consumer packaged goods, aerospace, oil and gas, mining, and agriculture. The company's flagship product, Razor™, is an analytics engine that combines industry expertise with artificial intelligence and the Industrial Internet of Things (IIoT). This technology enables organizations to predict and prevent disruptions in their operations by converting data into actionable insights and automatically generating recommendations for improvement.

Avidbots

Series B in 2019
Avidbots, established in 2014 and headquartered in Ottawa, Canada, specializes in developing and manufacturing autonomous commercial floor cleaning robots. Their flagship product, NEO, uses laser mapping technology to efficiently clean and maintain large spaces in various industries, including airports, retail malls, hospitals, and warehouses. NEO operates alongside human cleaning crews, allowing them to focus on higher-value tasks while the robot handles repetitive floor scrubbing. The company's mission is to integrate robots into everyday life to enhance human potential.

Eigen Innovation

Venture Round in 2018
Eigen Innovations Inc. specializes in developing quality inspection and process control solutions for industrial manufacturers. Founded in 2012 and based in Fredericton, Canada, the company offers a vision analytics platform called Intellexon, which learns from operators to optimize machine settings. Additionally, Eigen provides a solution that captures video and sensor data from manufacturing processes, analyzing it with Intellexon software. This technology is applicable across various industries, including automotive, food processing, construction materials, and mining. By utilizing Eigen's integrated inspection solutions, manufacturers can create AI-inspection models that facilitate part-over-part inspections and generate standardized digital records for every product. The company's OneView software enables factory teams to automate processes and analyze data to identify and reduce defects, ultimately enhancing production efficiency and effectiveness.

Canvass AI

Seed Round in 2018
Canvass AI is an AI-based platform focused on enhancing industrial operations. The company offers scalable AI solutions that empower industrial engineers and operators to improve quality, optimize processes, and reduce energy consumption in their daily activities. By providing actionable insights and real-time guidance, Canvass AI enables production teams to adopt AI technologies without needing extensive data science expertise. Its platform complements existing industrial systems, helping companies in sectors such as oil, gas, chemicals, and manufacturing to enhance operational performance, gain a competitive edge, and achieve new sustainability standards.

Relogix

Seed Round in 2018
Relogix Inc., founded in 2010 and based in Ottawa, Canada, specializes in developing sensor-based devices for monitoring and tracking unused office spaces. The company offers a comprehensive solution that includes UtiLive, a system utilizing space tracking sensors and a machine learning analytics engine for data analysis. Relogix operates on a sensor-as-a-service model, which encompasses floor planning, deployment of sensor devices, and ongoing monitoring through a cloud-based application. The company's offerings are designed to support large enterprises and commercial real estate portfolios, enabling clients to make informed, data-driven decisions regarding their real estate strategies. Relogix's innovative workplace insights platform, Conexus, and advanced IoT occupancy sensors aim to enhance the workplace experience and optimize real estate utilization.

Upchain

Series A in 2018
Upchain is a provider of cloud-based product lifecycle management (PLM) and product data management (PDM) solutions, established in 2015. The company aims to transform the way PLM is approached by making it more accessible to all participants in the supply chain, rather than focusing solely on large multinational corporations. Upchain's software facilitates collaboration across decentralized product value chains, offering features such as item management, version control, change management, bills of materials management, file compliance, and integration with computer-aided design tools. This comprehensive approach enables manufacturers operating within complex value chains to enhance revenue, reduce costs, and improve product quality, thereby streamlining the entire lifecycle from initial design to final assembly.

Delco Automation

Venture Round in 2018
Delco Automation is a manufacturer specializing in process automation and control systems, primarily serving the water and wastewater, integrated security, ethanol, energy, oil, and gas industries. The company offers a range of custom-engineered solutions, including automation integration, control systems, and electrical panel products. Delco Automation provides essential services such as water treatment, security integration, and process automation, ensuring that products are delivered on time and within budget. Their expertise extends to commissioning, telecommunications, and information systems, making them a comprehensive provider for clients in various sectors.

A&K Robotics

Seed Round in 2017
A&K Robotics Inc., founded in 2015 and headquartered in Vancouver, Canada, specializes in designing and building innovative robotic systems. The company focuses on developing intelligent navigation systems that enhance robots' ability to collaborate with humans. A&K Robotics creates electric micro-mobility platforms and self-driving robotic pods, which aim to improve quality of life and promote environmental sustainability. Their products are intended for use in large facilities such as airports, malls, and museums, as well as in crowded urban areas and future smart cities, providing individuals with greater freedom of mobility. Through its advancements in robotic technologies, A&K Robotics seeks to push the boundaries of the industry and explore practical applications that can significantly benefit society.

Powerside

Series A in 2017
Powerside is a manufacturer of power intelligence products that focus on delivering advanced monitoring technologies and power quality solutions. The company offers a comprehensive range of products, including power monitoring systems, PQube 3 power analyzers, and low and medium voltage power correction technologies. In addition to these products, Powerside provides a suite of power quality services aimed at helping clients improve their energy efficiency. The company serves a diverse array of industries, including power and energy, data centers, transportation, medical, semiconductor, telecom, manufacturing, military, and government. By enabling industrial clients and other businesses to analyze their workflows and mitigate high surcharge rates, Powerside plays a vital role in enhancing operational efficiency and power management.

Canvass AI

Seed Round in 2017
Canvass AI is an AI-based platform focused on enhancing industrial operations. The company offers scalable AI solutions that empower industrial engineers and operators to improve quality, optimize processes, and reduce energy consumption in their daily activities. By providing actionable insights and real-time guidance, Canvass AI enables production teams to adopt AI technologies without needing extensive data science expertise. Its platform complements existing industrial systems, helping companies in sectors such as oil, gas, chemicals, and manufacturing to enhance operational performance, gain a competitive edge, and achieve new sustainability standards.

Novarc Technologies

Seed Round in 2017
Novarc Technologies Inc. is a Vancouver-based company specializing in the design and manufacture of innovative robotic solutions for industrial applications, particularly in pipe welding. Established in 2013, Novarc has made significant advancements in collaborative robotics, offering products such as the Spool Welding Robot, which is recognized as the first of its kind for pipe welding. The company also provides custom robotic solutions for various applications, including arc welding, food and beverage handling, and palletizing. With a dedicated team of engineers and scientists, Novarc Technologies aims to address complex industrial automation challenges through the development of collaborative robots and artificial intelligence systems.

Proxxi

Seed Round in 2017
PROXXI specializes in the development and sale of wearable electrical safety devices aimed at enhancing the safety of workers in industrial and consumer markets. Founded in 2015 and based in Vancouver, Canada, the company has created the Proxxiband, a wrist-worn device that serves as a digital electric field sensor. This technology allows users to detect electrical voltage and distance, providing haptic feedback through vibrations when they approach an electric current. Targeted primarily at utility workers and individuals in high-risk environments, the Proxxiband aims to reduce the risk of electrocution while offering companies greater visibility and insights into employee safety. By integrating connected monitoring features, PROXXI provides a proactive approach to workplace safety.

Upchain

Seed Round in 2017
Upchain is a provider of cloud-based product lifecycle management (PLM) and product data management (PDM) solutions, established in 2015. The company aims to transform the way PLM is approached by making it more accessible to all participants in the supply chain, rather than focusing solely on large multinational corporations. Upchain's software facilitates collaboration across decentralized product value chains, offering features such as item management, version control, change management, bills of materials management, file compliance, and integration with computer-aided design tools. This comprehensive approach enables manufacturers operating within complex value chains to enhance revenue, reduce costs, and improve product quality, thereby streamlining the entire lifecycle from initial design to final assembly.

Encycle

Venture Round in 2016
Encycle Corporation specializes in wireless electrical demand management solutions for commercial and industrial facilities. Based in Toronto with offices in California and the UK, the company offers automated demand response controllers that manage peak electrical demand across various building equipment types. Their products are installed directly or via distributors in California and New York, serving clients such as retail stores, office buildings, distribution centers, and food processing plants. Encycle's strategic partnership with Ayla Networks enhances its product offerings. Founded in 2005, the company changed its name from REGEN Energy Inc. to Encycle Corporation in 2015.

Bit Stew Systems

Series C in 2016
Bit Stew Systems Inc. is a data intelligence company that specializes in providing a platform for data integration and management tailored to the needs of industries such as utilities, oil and gas, aviation, and manufacturing. Founded in 2005 and headquartered in Burnaby, Canada, with additional locations in Mountain View, California; Melbourne, Australia; Madrid, Spain; and London, United Kingdom, Bit Stew Systems has developed MIx Core, a platform designed for the Industrial Internet of Things. This platform facilitates real-time analytics, dynamic event management, and seamless integration with both IT and operational systems. It offers solutions in machine intelligence, edge analytics, and predictive automation, allowing users to gain valuable insights into their industrial operations and connected devices. As of November 2016, Bit Stew Systems operates as a subsidiary of GE Digital LLC.

Eigen Innovation

Venture Round in 2016
Eigen Innovations Inc. specializes in developing quality inspection and process control solutions for industrial manufacturers. Founded in 2012 and based in Fredericton, Canada, the company offers a vision analytics platform called Intellexon, which learns from operators to optimize machine settings. Additionally, Eigen provides a solution that captures video and sensor data from manufacturing processes, analyzing it with Intellexon software. This technology is applicable across various industries, including automotive, food processing, construction materials, and mining. By utilizing Eigen's integrated inspection solutions, manufacturers can create AI-inspection models that facilitate part-over-part inspections and generate standardized digital records for every product. The company's OneView software enables factory teams to automate processes and analyze data to identify and reduce defects, ultimately enhancing production efficiency and effectiveness.

Bit Stew Systems

Series B in 2015
Bit Stew Systems Inc. is a data intelligence company that specializes in providing a platform for data integration and management tailored to the needs of industries such as utilities, oil and gas, aviation, and manufacturing. Founded in 2005 and headquartered in Burnaby, Canada, with additional locations in Mountain View, California; Melbourne, Australia; Madrid, Spain; and London, United Kingdom, Bit Stew Systems has developed MIx Core, a platform designed for the Industrial Internet of Things. This platform facilitates real-time analytics, dynamic event management, and seamless integration with both IT and operational systems. It offers solutions in machine intelligence, edge analytics, and predictive automation, allowing users to gain valuable insights into their industrial operations and connected devices. As of November 2016, Bit Stew Systems operates as a subsidiary of GE Digital LLC.

Encycle

Series B in 2014
Encycle Corporation specializes in wireless electrical demand management solutions for commercial and industrial facilities. Based in Toronto with offices in California and the UK, the company offers automated demand response controllers that manage peak electrical demand across various building equipment types. Their products are installed directly or via distributors in California and New York, serving clients such as retail stores, office buildings, distribution centers, and food processing plants. Encycle's strategic partnership with Ayla Networks enhances its product offerings. Founded in 2005, the company changed its name from REGEN Energy Inc. to Encycle Corporation in 2015.

Encycle

Series B in 2014
Encycle Corporation specializes in wireless electrical demand management solutions for commercial and industrial facilities. Based in Toronto with offices in California and the UK, the company offers automated demand response controllers that manage peak electrical demand across various building equipment types. Their products are installed directly or via distributors in California and New York, serving clients such as retail stores, office buildings, distribution centers, and food processing plants. Encycle's strategic partnership with Ayla Networks enhances its product offerings. Founded in 2005, the company changed its name from REGEN Energy Inc. to Encycle Corporation in 2015.

Vizimax

Series A in 2012
Vizimax Inc. develops and manufactures automation and energy-related solutions for medium and high voltage electrical systems. The company offers a range of products, including RightWON, an automation controller system, and controlled switching devices that enhance the stability and reliability of electrical systems. Their Analog Merging Units convert analog signals from traditional transformers into digital values for transmission over Ethernet LAN. Additionally, Vizimax provides the Versa product for substation automation and protection, along with training and field configuration services. Serving clients in electric utilities, renewable energies, heavy industries, transportation, oil and gas, and water and wastewater sectors, Vizimax operates both domestically in Canada and internationally through distributors. Founded in 1988 and based in Longueuil, Canada, Vizimax was previously known as STR Solutions Temps Reel Inc. before rebranding in 2009.

Encycle

Venture Round in 2012
Encycle Corporation specializes in wireless electrical demand management solutions for commercial and industrial facilities. Based in Toronto with offices in California and the UK, the company offers automated demand response controllers that manage peak electrical demand across various building equipment types. Their products are installed directly or via distributors in California and New York, serving clients such as retail stores, office buildings, distribution centers, and food processing plants. Encycle's strategic partnership with Ayla Networks enhances its product offerings. Founded in 2005, the company changed its name from REGEN Energy Inc. to Encycle Corporation in 2015.

Encycle

Venture Round in 2011
Encycle Corporation specializes in wireless electrical demand management solutions for commercial and industrial facilities. Based in Toronto with offices in California and the UK, the company offers automated demand response controllers that manage peak electrical demand across various building equipment types. Their products are installed directly or via distributors in California and New York, serving clients such as retail stores, office buildings, distribution centers, and food processing plants. Encycle's strategic partnership with Ayla Networks enhances its product offerings. Founded in 2005, the company changed its name from REGEN Energy Inc. to Encycle Corporation in 2015.
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