The bigger deals of 2023 - but not by dollar amount

We've hand-picked some of the most interesting funding stories from the past year.

Author

Kate Wilson
December 22, 2023

Despite economic headwinds — (and I’m sure you’re as sick of that phrase as I am!) — money did flow into Vancouver in 2023.

A number of companies scored some hefty funding — LayerZero Labs, for instance, secured the largest disclosed deal in the province this year with a $120-million Series B round — and B.C. received the third-highest VC investments in Canada, after Ontario ($2.5 billion) and Quebec ($1.2 billion).

The significance of a deal, however, isn’t just about the cash. To round out the year, we’ve hand-picked a selection of some of the most interesting funding stories of 2023 — not for their deal size, but for what it told us about the local tech ecosystem.

Read on for more.

Zenhub raises $10M Series A led by Yaletown Partners

The round was led by Vancouver-based Yaletown Partners, offering just one important example of local capital being invested in local companies this year.

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pH7 Technologies raises $16M USD Series A co-led by Pangaea Ventures

The funding is a collaborative effort, according to the startup, which cites support from the Vancouver ecosystem including Innovate BC, IRAP, Simon Fraser University, and Creative Destruction Lab.

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$500 million fund InBC announces second batch of investments

4AG Robotics and Clarius Mobile Health were the first to receive direct investments from the provincial crown corporation, which was established over a year ago.

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Operto Guest Technologies raises USD $25 Million Series B

The hefty raise was evidence that the hospitality industry is bouncing back, and that significant investment was still available for series B and beyond during a period of economic headwinds.

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$40 million for a business born on Burnaby Mountain

Fantuan’s significant raise made it the only ethnic food delivery platform to secure substantial funding in the post-pandemic era.

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$1.05 billion invested into Maple Ridge tech

The partnership between the governments of B.C. and Canada and E-One Moli will create 450 new jobs in the clean-energy sector, proving that international companies are looking to local industries.

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