NorthSpring Capital Partners

NorthSpring Capital Partners is a private equity and venture capital firm based in Cambridge, Canada, that focuses on providing risk capital to early-stage technology startups and small to medium-sized businesses primarily in Southern Ontario. Established in 2009, the firm specializes in various investment strategies, including growth capital, management buyouts, and mezzanine financing. It typically invests between $250,000 and $1 million, targeting manufacturing, processing, wholesale, and distribution sectors. NorthSpring aims for investments with a minimum revenue of $1 million, favoring firms located within a 200 km radius of Toronto. The firm adopts a flexible approach to investment structuring, allowing it to tailor solutions to the specific needs of each business. NorthSpring intends to exit its investments within one to five years, often by selling shares back to management.

Sol Algranti

CEO

Brian K. Hunter

President

Past deals in Ontario

Able Innovations

Seed Round in 2022
Able Innovations is developing fully automated patient transfer technology to reduce labour and injury costs and improve efficiency, dignity, and quality of life for clients and caregivers alike. Our autonomous and intelligent transfer devices will be able to lift and transfer humans in a safe, efficient, and dignified manner, with zero physical effort required from caregivers. By performing safe and effortless automated transfers, our technology will help to reduce the $30 billion annual financial burden to healthcare facilities that result from the high injury rates and labour expenditure resulting from the inefficient, unsafe, and outdated patient transfer devices in use today. Our first product, the DELTA Platform, will leverage our unique transfer method to perform automated lateral transfers in hospitals and other healthcare facilities, allowing these facilities to save millions on injury costs and optimize their labour resources to achieve the greatest clinical and social outcomes for their clients. Using this same core transfer technology, we plan to develop intelligent and robust mobility devices for long-term care and homecare use, which will enable individuals with impaired mobility to live their lives with a hereto unprecedented level of dignity and independence.

FluidAI Medical

Seed Round in 2021
NERv Technology Inc. develops an implantable biochip with biosensors to detect post-operative complications, such as internal bleeding, leakage of bodily fluids, and infection within the abdominal cavity. The biosensor collects data and identifies the complications as it develops and informs both patient and physician in real-time. It also detects changes in the levels of biomarker. The company serves physicians, surgeons, hospitals, and patients. NERv Technology Inc. was founded in 2014 and is based in Kitchener, Canada.

DarwinAI

Seed Round in 2020
DarwinAI Corp. specializes in designing and developing a platform that generates deep neural networks for enterprise artificial intelligence applications. The company's flagship product, GenSynth, is a software platform that provides developers and data scientists with tools to accelerate the deep learning development cycle in a transparent manner. GenSynth automatically creates new models that meet specific performance targets while maintaining transparency throughout the development process, allowing users to understand the factors influencing model decisions. Founded in 2017 and headquartered in Waterloo, Canada, DarwinAI leverages patented Generative Synthesis technology to enhance the efficiency, portability, scalability, and comprehensibility of artificial intelligence, making advanced AI accessible to a broader audience.

Forcen

Seed Round in 2020
Sensor Medical improves surgical safety through force-sensing technology.

Workwolf

Pre Seed Round in 2020
HRTech _ Workwolf is a Toronto based Start-Up releasing their first commercially available version of their technology in December 2020. The platform is designed to reduce the occurrence of resume-fraud which costs the North American market $600B/yr. The tech addresses the "root problem" of all hiring efficiencies by verifying self-proclaimed, inaccurate resume data at the beginning of the hiring cycle for enterprise customers. The new, tamper-proof resume (once authenticated) can then be verified by employers or recruiters in real-time and repurposed/refreshed by the user for their entire career.

YOURIKA

Seed Round in 2019
YOURIKA combines years of AI research from the University of Waterloo (Top 5 in AI) with our proprietary technology and domain expertise to make smarter and more connected learning products. This includes our own platform, ORBITS, that liberates teenage students to work smarter when learning remotely.

Forcen

Seed Round in 2019
Sensor Medical improves surgical safety through force-sensing technology.

Underknown

Seed Round in 2018
Underknown, also known as Interesting sh!t, is a Toronto-based company that specializes in producing short video content focused on history, geography, science, and culture. Established in 2016, it creates engaging material tailored for various social media platforms, including Facebook, Instagram, Twitter, and YouTube. The company also provides sponsored storytelling, advertising, and distribution services aimed at enhancing content marketing campaigns. By leveraging social media's reach, Underknown delivers informative and entertaining videos designed to engage a broad audience.

Zoom.ai

Seed Round in 2018
Zoom.ai Inc. is a Toronto-based company that specializes in developing an artificial intelligence-driven automated virtual assistant. Founded in 2016, the software integrates with a user’s existing data to learn their preferences and streamline various operational tasks. It assists in meeting scheduling, workload management, and logistics coordination, while also providing features like reminders and warm introductions. The virtual assistant facilitates communication through popular messaging platforms, including Slack, Skype, Facebook Messenger, Google Hangouts, SMS, and GroupMe. By automating routine tasks, Zoom.ai aims to enhance productivity for enterprise managers and reduce workplace distractions.

Nicoya Lifesciences

Seed Round in 2018
Nicoya Lifesciences Inc. develops sensor products to get affinity, kinetics, and specificity for proteins, antibodies, DNA, RNA, enzymes, polymers, and small molecules. The company offers surface plasmon resonance (SPR) instruments, spectrophotometers, sensor chips, SPR reagents and kits, and SPR accessories; and OpenSPR, a personal label-free biomolecular analysis instrument. It also provides software solutions, such as TraceDrawer, a real-time kinetic analysis software; OpenSPR software that allows the control of the OpenSPR instrument and real time data acquisition; and OpenSpec, a software program for real time optical peak tracking. The company was founded in 2012 and is based in Kitchener, Canada.

Intellijoint Surgical

Series A in 2016
Intellijoint Surgical Inc. is a Canadian medical device company founded in 2010 and based in Waterloo. The company specializes in developing innovative tools for orthopedic surgery, particularly focusing on hip replacement procedures. Its flagship product, Intellijoint HIP, is a miniaturized system designed to assist surgeons in the accurate selection, positioning, and alignment of orthopedic implants. This affordable Smart Tool utilizes advanced hardware and software, incorporating miniature optical sensors and microelectronics to provide real-time, quantitative data during surgery. By offering insights into cup position, leg length, and offset, Intellijoint HIP enhances surgical precision without changing existing techniques or workflows, thereby improving patient outcomes and hospital efficiencies. The system adds a minimal amount of time to the surgical process but significantly aids in achieving pre-operative targets. In recognition of its innovative contributions, Intellijoint Surgical received the North American Frost & Sullivan Enabling Technology Leadership Award in 2016.

KA Imaging

Debt Financing in 2016
KA Imaging Inc. designs and manufactures advanced X-ray detectors for both medical and non-medical applications. Founded in 2015 and based in Waterloo, Canada, the company offers a range of products, including static X-ray detectors for detecting internal faults in pipes, dual-energy detectors for airport baggage screening, dynamic detectors for inspecting moving engine parts, and specialized detectors for mammography. KA Imaging has developed a novel real-time X-ray imager that boasts higher resolution, increased dynamic range, and lower radiation doses, utilizing an innovative LCD display manufacturing process. The company holds several patents protecting its technology and is actively expanding its product pipeline, which includes a CAT scan replacement that provides improved visualization compared to traditional X-ray methods. KA Imaging aims to distribute its imaging solutions to X-ray system integrators.

HTBASE

Angel Round in 2016
HTBASE delivers a unique Composable IT infrastructure solution to medium and large enterprises with its software-defined platform. Their goal is to enable organizations to transform their operations and deliver technology solutions on an efficient way. Through innovative product and services, HTBASE accelerates the journey to cloud computing in a more agile, trusted and cost-efficient way.

Perimeter Medical Imaging

Series A in 2015
Perimeter Medical Imaging is a privately held medical device company with offices in Toronto, Canada. Our executive team of medical device leaders holds an excellent track record of successfully building companies and improving outcomes for clinicians and patients.

directworx

Venture Round in 2010
Founded in 1996, directworx (formerly Pegasus Direct Mail Worx) offers state-of-art response technologies for direct mail and transactional mail campaigns encompassing all aspects of creative, data cleansing, dynamic imaging and delivery electronically or through postal services