New Brunswick Innovation Foundation
New Brunswick Innovation Foundation (NBIF), established in 2003, is a Canadian venture capital firm based in Fredericton. It invests in early-stage, growth-oriented companies and applied research projects, primarily in New Brunswick. Unlike traditional financial institutions, NBIF invests in companies' equity and provides funding to research projects with commercialization potential. The foundation's unique approach involves attaching certain rights to developed intellectual property to facilitate its commercialization. NBIF manages $40 million and has helped leverage over $160 million in additional capital for its portfolio companies and researchers. Its mission is to foster innovation and create commercial opportunities in New Brunswick's strategic industries.
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Past deals in Nova Scotia
FoodByte
Venture Round in 2020
FoodByte Inc. is a Canadian company founded in 2017, specializing in software solutions for food processors to streamline food safety management. Based in Wolfville, FoodByte offers products such as Traceability+, which facilitates product recalls, lot code tracking, and inventory management, and Standards+, which aids in the creation and monitoring of work plans for food safety. The company's compliance platform replaces traditional paper-based documentation, enabling users to upload standard operating procedures, including hazard analysis critical control point plans, and link them to relevant monitoring forms. This automation allows food manufacturers to prioritize production and growth while ensuring adherence to safety standards and regulatory requirements.
Trip Ninja
Pre Seed Round in 2017
Trip Ninja Inc., established in 2015 and based in Halifax, Canada, specializes in multi-destination flight booking solutions. Its core product is a web-based application that enables users to search for optimized travel routes worldwide at the lowest cost. Trip Ninja caters to both consumers via its website and businesses through its API, serving as a comprehensive tool for travel agencies seeking affordable and efficient trip planning.
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