Panache Ventures

Panache Ventures is a venture capital firm founded in 2018 and based in Montréal, Canada, with additional offices in Calgary, Vancouver, Toronto, and San Francisco. The firm specializes in pre-seed and seed-stage investments, focusing on sectors that leverage Canada's strengths, including artificial intelligence, fintech, digital health, enterprise software, and blockchain. Panache Ventures aims to support innovative startups primarily within Canada, although it has a presence in the United States as well. The firm typically seeks to make initial investments of up to USD 1 million, targeting a diverse array of technology sectors such as cybersecurity, virtual reality, and data analytics.

Michael Cegelski

Founder & Chairman

Taylor Gendron

Associate

Timothy Kwok

Associate

Scott Loong

Partner

Patrick Lor

Partner

Prashant Matta

Partner

Chris Neumann

Partner

Past deals in Ontario

ODAIA

Series B in 2023
ODAIA Intelligence Inc. is a Canadian company that specializes in developing an artificial intelligence-based platform for customer engagement analysis. Founded in 2018 and headquartered in Toronto, ODAIA offers a cloud-based software as a service (SaaS) platform that enables enterprise clients to automate the mapping of customer touchpoints and journeys. Utilizing advanced techniques in big data mining, process journey mapping, and machine learning, the platform provides insights into customer behavior, predicts future actions, and identifies potential churn. ODAIA simplifies data ingestion and normalization from various sources, offering an intuitive dashboard for visualizing insights and predictions. The company was established by a team of academics and industry professionals, including members from the University of Toronto and the University of Lausanne, whose research has been widely recognized in the field.

Acto

Series B in 2022
ACTO is an omnichannel education and engagement platform for life sciences companies. They use AI-powered mobile experiences and agency partnerships to educate and engage field reps, physicians and patients, while giving senior commercial and clinical leaders real-time insights. ACTO is a one-stop-shop sales, marketing, and training platform designed to help life sciences companies effectively communicate their clinical evidence story, increase sales, and gather field intelligence.

Mayday

Seed Round in 2022
MAYDAY LABS INC. designs and develops wellness and productivity software solutions. The company offers calendar scheduling assistant solutions, including automatic travel time scheduling. MAYDAY LABS INC. was incorporated in 2018 and is based in Toronto, Canada.

ODAIA

Series A in 2022
ODAIA Intelligence Inc. is a Canadian company that specializes in developing an artificial intelligence-based platform for customer engagement analysis. Founded in 2018 and headquartered in Toronto, ODAIA offers a cloud-based software as a service (SaaS) platform that enables enterprise clients to automate the mapping of customer touchpoints and journeys. Utilizing advanced techniques in big data mining, process journey mapping, and machine learning, the platform provides insights into customer behavior, predicts future actions, and identifies potential churn. ODAIA simplifies data ingestion and normalization from various sources, offering an intuitive dashboard for visualizing insights and predictions. The company was established by a team of academics and industry professionals, including members from the University of Toronto and the University of Lausanne, whose research has been widely recognized in the field.

Relay

Series A in 2021
Relay Financial Technologies Inc. provides online banking products and services for U.S. corporations, LLCs, general partnerships, and sole proprietors. The company provides checking accounts and MasterCard debit cards. It serves business owners in the United States, Canada, the United Kingdom, Australia, and other countries. The company was incorporated in 2018 and is based in Toronto, Canada.

Forma

Series A in 2021
Forma AI, Incorporated is a Toronto-based information technology company that specializes in software solutions for managing sales incentives and compensation within organizations. Founded in 2016, the company offers several products, including Forma Operator, which facilitates commission compensation processing; Forma Responder, which oversees variable compensation; and Forma Interpreter, which provides visualization, reporting, and updating of sales payouts. Through these offerings, Forma aims to streamline and enhance the management of sales compensation, helping organizations optimize their incentive structures.

gofor

Series A in 2020
GoFor Industries Inc. operates an online platform that specializes in on-demand delivery services for building materials and equipment, specifically targeting the home improvement and construction sectors. Founded in 2016 and based in Ottawa, Canada, the company offers a mobile application that facilitates last-mile and same-day delivery solutions for suppliers and retailers. GoFor's streamlined platform integrates various logistics capabilities, including eCommerce integration, dispatching, and reporting, enabling businesses to enhance their existing delivery fleets or outsource their logistics needs entirely.

ODAIA

Seed Round in 2020
ODAIA Intelligence Inc. is a Canadian company that specializes in developing an artificial intelligence-based platform for customer engagement analysis. Founded in 2018 and headquartered in Toronto, ODAIA offers a cloud-based software as a service (SaaS) platform that enables enterprise clients to automate the mapping of customer touchpoints and journeys. Utilizing advanced techniques in big data mining, process journey mapping, and machine learning, the platform provides insights into customer behavior, predicts future actions, and identifies potential churn. ODAIA simplifies data ingestion and normalization from various sources, offering an intuitive dashboard for visualizing insights and predictions. The company was established by a team of academics and industry professionals, including members from the University of Toronto and the University of Lausanne, whose research has been widely recognized in the field.

Relay

Venture Round in 2020
Relay Financial Technologies Inc. provides online banking products and services for U.S. corporations, LLCs, general partnerships, and sole proprietors. The company provides checking accounts and MasterCard debit cards. It serves business owners in the United States, Canada, the United Kingdom, Australia, and other countries. The company was incorporated in 2018 and is based in Toronto, Canada.

OnCall Health

Series A in 2020
OnCall Health is a virtual care platform that is licensed to healthcare providers to use with their patients. Founded in 2016, the company provides technology and services including security, support, analytics, and white label branding to more than 300 healthcare organizations.

Acto

Series A in 2020
ACTO is an omnichannel education and engagement platform for life sciences companies. They use AI-powered mobile experiences and agency partnerships to educate and engage field reps, physicians and patients, while giving senior commercial and clinical leaders real-time insights. ACTO is a one-stop-shop sales, marketing, and training platform designed to help life sciences companies effectively communicate their clinical evidence story, increase sales, and gather field intelligence.

FleetOps

Seed Round in 2020
FleetOps is a freight marketplace based in Toronto, Canada, founded in 2014. The company has developed an application that connects freight from brokers and shippers, automating the allocation of loads to truck drivers. By leveraging data from telematics providers, FleetOps gathers extensive information on vehicle locations, typical routes, idle times, and driver behavior. This data is processed using AI and machine learning algorithms to identify the most suitable loads for each driver. Drivers interact with the system through a mobile application, which is required for compliance with electronic logging device regulations. In addition to facilitating load matching, FleetOps provides tailored analytics and key performance indicators specific to carrier trucking operations, enhancing efficiency and decision-making in logistics.

gofor

Seed Round in 2020
GoFor Industries Inc. operates an online platform that specializes in on-demand delivery services for building materials and equipment, specifically targeting the home improvement and construction sectors. Founded in 2016 and based in Ottawa, Canada, the company offers a mobile application that facilitates last-mile and same-day delivery solutions for suppliers and retailers. GoFor's streamlined platform integrates various logistics capabilities, including eCommerce integration, dispatching, and reporting, enabling businesses to enhance their existing delivery fleets or outsource their logistics needs entirely.

Lane

Series A in 2020
Lane offers a workplace management platform. Lane provides a SaaS based enterprise solution that integrates building systems into a single, centralized, digital platform.

Swyft

Seed Round in 2020
ShipSwyft Inc. develops same day delivery application that connects merchants to existing courier networks. It serves ecommerce brands with postal zone calculation, multiple fulfillment options, and real-time address verification. The company offers rapid deployment, improve customer experience, and dynamic supply to meet demand serves to retailers and it offers integration with shipping API, quality of service, and ease of execution service to 3PL and distributors. ShipSwyft Inc. was founded in 2020 and is based in Toronto, Canada.

EnPowered

Seed Round in 2020
EnPowered helps businesses take charge of their energy usage and costs. We provide free audits on energy bills to deliver up to 70% in cost reductions. We also run analytics on our customers’ energy usage to help them save even more, offering energy retrofits to reduce energy consumption. We are working to give Power to the People. We help our customers control their energy usage and costs, and also allow small businesses to group together to get lower electricity rates; group-buying for energy.

EnPowered

Debt Financing in 2020
EnPowered helps businesses take charge of their energy usage and costs. We provide free audits on energy bills to deliver up to 70% in cost reductions. We also run analytics on our customers’ energy usage to help them save even more, offering energy retrofits to reduce energy consumption. We are working to give Power to the People. We help our customers control their energy usage and costs, and also allow small businesses to group together to get lower electricity rates; group-buying for energy.

Roost

Pre Seed Round in 2019
Roost Living, Inc. provides property management and co-living spaces solutions. The company designs, furnishes, and leases properties to professionals and families. It also provides building repair services. The company was incorporated in 2018 and is based in Toronto, Canada.

ODAIA

Seed Round in 2019
ODAIA Intelligence Inc. is a Canadian company that specializes in developing an artificial intelligence-based platform for customer engagement analysis. Founded in 2018 and headquartered in Toronto, ODAIA offers a cloud-based software as a service (SaaS) platform that enables enterprise clients to automate the mapping of customer touchpoints and journeys. Utilizing advanced techniques in big data mining, process journey mapping, and machine learning, the platform provides insights into customer behavior, predicts future actions, and identifies potential churn. ODAIA simplifies data ingestion and normalization from various sources, offering an intuitive dashboard for visualizing insights and predictions. The company was established by a team of academics and industry professionals, including members from the University of Toronto and the University of Lausanne, whose research has been widely recognized in the field.

Kora

Seed Round in 2019
Korapay offers a payment engine that enables local and global businesses to send and accept payments. The company was founded in 2017 and is headquartered in Toronto, Ontario.

gofor

Seed Round in 2019
GoFor Industries Inc. operates an online platform that specializes in on-demand delivery services for building materials and equipment, specifically targeting the home improvement and construction sectors. Founded in 2016 and based in Ottawa, Canada, the company offers a mobile application that facilitates last-mile and same-day delivery solutions for suppliers and retailers. GoFor's streamlined platform integrates various logistics capabilities, including eCommerce integration, dispatching, and reporting, enabling businesses to enhance their existing delivery fleets or outsource their logistics needs entirely.

Lane

Seed Round in 2019
Lane offers a workplace management platform. Lane provides a SaaS based enterprise solution that integrates building systems into a single, centralized, digital platform.

OnCall Health

Seed Round in 2019
OnCall Health is a virtual care platform that is licensed to healthcare providers to use with their patients. Founded in 2016, the company provides technology and services including security, support, analytics, and white label branding to more than 300 healthcare organizations.

reDock

Seed Round in 2019
reDock Inc. develops software that enhances the efficiency of responding to Requests for Proposals (RFPs) through the use of artificial intelligence. The software streamlines the management of corporate projects and documents, enabling users to create compliant and competitive proposals more quickly. Key features include dynamic templates, compliance checking, requirement matching, and a reporting dashboard, all designed to support proposal development teams. By automating routine tasks such as document management and contract oversight, reDock allows professionals to focus on the most critical aspects of RFPs. Founded in 2016 and based in Ottawa, Canada, the company primarily serves IT consulting, IT staffing, and management consulting firms in North America.

MedStack

Seed Round in 2019
For developers of healthcare applications in startups, enterprises and agencies, MedStack provides industry-specific data APIs and automated cloud hosting designed to achieve privacy compliance, healthcare security and data interoperability with Electronic Health Record systems out of the box. Built from the ground-up on proven high security standards and for flexibility across a wide range of application, database and deployment stacks, MedStack is the most secure, flexible and capable healthcare app hosting platform in the industry, now powering a wide range of applications from chronic disease management, healthcare workflow, monitoring and billing, leveraging AI, mobile, blockchain and VR/AR.

FleetOps

Seed Round in 2018
FleetOps is a freight marketplace based in Toronto, Canada, founded in 2014. The company has developed an application that connects freight from brokers and shippers, automating the allocation of loads to truck drivers. By leveraging data from telematics providers, FleetOps gathers extensive information on vehicle locations, typical routes, idle times, and driver behavior. This data is processed using AI and machine learning algorithms to identify the most suitable loads for each driver. Drivers interact with the system through a mobile application, which is required for compliance with electronic logging device regulations. In addition to facilitating load matching, FleetOps provides tailored analytics and key performance indicators specific to carrier trucking operations, enhancing efficiency and decision-making in logistics.

MasterpieceVR

Seed Round in 2018
MasterpieceVR, operated by Brinx Software Inc., is a company specializing in the development of virtual reality 3D modeling products. Founded in 2015 and based in Ottawa, Canada, MasterpieceVR offers a software platform that enables users to create 3D content in an immersive environment. The platform includes a variety of brushes and sculpting tools designed for real-time modeling of tangible objects and vibrant environments. Users can collaborate in virtual spaces, working together with friends or colleagues while also inviting spectators to observe the creation process. In addition to its modeling capabilities, MasterpieceVR features a social platform that facilitates interaction among users, allowing them to upload and download content.

Acto

Seed Round in 2017
ACTO is an omnichannel education and engagement platform for life sciences companies. They use AI-powered mobile experiences and agency partnerships to educate and engage field reps, physicians and patients, while giving senior commercial and clinical leaders real-time insights. ACTO is a one-stop-shop sales, marketing, and training platform designed to help life sciences companies effectively communicate their clinical evidence story, increase sales, and gather field intelligence.

Wisk

Pre Seed Round in 2016
Wisk Solutions Inc. is a Toronto-based company that specializes in developing and selling software designed to manage alcoholic operations. Founded in 2014, Wisk's software facilitates inventory management, consumption analysis, product pricing, and the optimization of purchase orders. Its clients include a variety of establishments such as hotels, clubs, restaurants, and bars. The software aims to enhance operational efficiency by reducing the time required for inventory counting and data compilation, thereby providing users with a more accurate and precise inventory solution.