BC’s Tesla of buildings is worth over a billion | The Sunday Briefing
Construction tech company Nexii reached unicorn status in a record 31 months.
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Good morning! Tomorrow, September 13 at 12:00pm PST, we’re co-hosting a Twitter Spaces event with the Council of Canadian Innovators where we’ll explore urgent questions on innovation policy ahead of the federal election.
Please send me any questions you’d like asked and we’ll try to get to them.
In this week’s email, I’m excited to highlight BC’s 10th billion-dollar business in 10 months, the Metro Vancouver CEO that we should put on a world-domination watch list, and 31 other stories.
Today’s Briefing is 1,281 words, a 4-minute read. Enjoy!
Green construction tech company Nexii Building Solutions Inc. recently closed its sixth funding round led by Honeywell, a USD$45 million infusion of capital.
The investment round, which also included Trane Technologies and other strategic partners, values the 31-month-old company at CAD$1.55 billion. Nexii’s total equity raised is over USD$109M (CAD$125M).
It’s the latest in a growing number of BC-based businesses to become a unicorn, the term applied to private companies valued at $1 billion or more. It follows firms like Blockstream, Visier, Trulioo, Clio and Dapper Labs to pass the billion-dollar mark in 2021. ➝ Get the full story.
It's only September and 2021 for Clio’s Jack Newton has included the achievement of a $2 billion valuation for his company, a doubled headcount, two acquisitions and multiple investments.
Our reporter James Matthews caught up with the unicorn CEO to discuss his monster year. ➝ Get the full story.
We spoke to Ingrid T. Polini, the Victoria-based entrepreneur and the sole BC-based founder selected for the Google for Startups Accelerator: Women Founders program.
After growing up and growing a company in Brazil’s most populous city, Polini, CEO of SafetyDocs Global, has found a new home—both personally and professionally—in BC. ➝ Get the full story.
⏩ Quick takes.
🏆 Podium: Vancouver Tech Journal’s top 12 stories of summer.
🏍️ Racing ahead: Damon Motors has received $35 million in preorders for its flagship HyperSport fully electric motorcycle.
🔎 Look closely: 15 people and communities to know in Vancouver’s tech ecosystem.
🤝 Funding and deals.
BC-based Traction on Demand (ToD) has acquired New Zealand-based Salesforce implementation partner Trineo.
The acquisition creates a category giant, with two leading Salesforce consulting partners complementing each other's geography and expertise. In addition, the acquisition will allow ToD to expand its “follow-the-sun” approach, enabling client services availability around the clock, in North America, Australia, New Zealand and India. ➝ Get the full story.
Saanichton, BC-based Redlen Technologies has been acquired by Canon.
Canon had already purchased 15% of Redlen for approximately $83 million. Canon purchased the final 85% for $341 million. The total acquisition cost is $424 million. Founded in 1999, Redlen develops sensors that are driving innovations in computed tomography cameras (CT scanners), improving diagnostic capabilities and reducing the amount of radiation a patient is exposed to. ➝ Get the full story.
Vancouver’s TIMIA Capital Corporation has agreed to acquire the business of Pivot Financial, a private lender for small- and medium-sized businesses for $6 million in cash and shares.
The combined company’s pro forma assets surpass $100 million, according to a statement from TIMIA. ➝ Get the full story.
Hydrogen Technology & Energy Corporation (HTEC) has secured a CAD$217 million investment from Chart Industries, Inc. and I Squared Capital.
Radicle Group Inc. has raised an undisclosed amount of funding from TELUS Ventures and other investors as part of its debenture financing round.
Galvanize—acquired by Diligent for $1B—announced that Telus has chosen Galvanize’s HighBond platform to help strengthen governance, risk and compliance capabilities across the business.
Victoria’s Plurilock Security Inc., a cybersecurity solutions provider for workforces, has received a USD$250,000 purchase order from the Naval Surface Warfare Center (NSWC) as part of NASA’s Solution for Enterprise-Wide Procurement (SEWP) program.
🗞️ You should also know that…
Esports facility The Gaming Stadium is re-opening after a COVID-forced shutdown.
Westblock Capital Inc. has entered into an asset purchase agreement with Blackcloud Crypto Investments to purchase the assets of its ethereum mining and hosting operations.
Ballard Power Systems and Quantron AG announced a strategic partnership for the development of hydrogen fuel cell electric trucks.
💡 Ideas and insights.
Kari LaMotte, head of entrepreneurship@UBC, writing in Vancouver Sun: Canada must bridge the innovation gap to prevent key discoveries from being overlooked
Karn Manhas, CEO of Terramera, in Worth: Want A More Resilient Business? Here’s How To Transform Your Organization Into An Organism
Caroline Carter-Smith, partner with CSuite Content, in Entrepreneur: 3 Thought Leadership and Communication Tips for Hybrid-Era Leaders
Ben Bergen, executive director of the Council of Canadian Innovators, in Pathways Magazine: Why Canada needs a post-pandemic prosperity strategy
Wal van Lierop, founder partner of Chrysalix, in Forbes: No More Carbon Havens And ESG Greenwashing
👩💼 People going places.
Tribe Property Technologies appointed Dan Feeny to the newly-created role of chief technology officer.
Ritchie Bros. has promoted Jim Kessler to role of president.
Insurtech firm APOLLO promoted Lana McGarry to the position of chief people and culture officer.
Laurie Schultz, who led Galvanize to a $1B exit, joined the board of UserZoom, an experience insights management firm.
Carl Data Solutions Inc. has added David Daniels as vice president of environmental monitoring as a service (EMaaS) sales.
Job Opportunities at Overstory Media Group
Vancouver Tech Journal is looking for an experienced salesperson to join our team as an Account Executive. Plus, Overstory Media Group, our parent organization, is hiring for more than 20 roles. Learn more.
🌐 More BC tech headlines from around the web.
East Side Games in Uproxx: ‘The Office’ Is Getting A Free-To-Play Mobile Game Later This Year
Addy Invest in Toronto Star: Can’t afford a house? Fractional investing lets you ride the real estate wave without one
Clio in Forbes: Clio Attains Legal Practice Management Software Market Leadership And Unicorn Status
Embedded Financial in Sifted: 14 corporate seed-stage investors you need to know
🎧 Watch + listen.
Kenny Huang, CEO of Tiny Rex Games, joined the Founder Journeys by Launch Ventures podcast to discuss the emotional rollercoaster of startup culture and starting a company for the second time.
📅 Upcoming events.
Tomorrow, Sept 13 on Twitter Spaces: Join Vancouver Tech Journal and the Council of Canadian Innovators for an important conversation on Canadian innovation policy ahead of the upcoming federal election. Set a reminder on your mobile device for 12:00pm PST.
Tomorrow, Sept 13, 2021 in-person: On Deck is expanding to Canada and inviting you to join them at their first Vancouver Launch Event. They’re excited to bring their community-driven programs to support local founders, and connect the Vancouver ecosystem with On Deck's global network. Grab a ticket to reserve your spot.
Every Tuesday in person: Vancouver Tech Morning Coffee. Join the Vancouver Tech community at The Birds & The Beets (55 Powell St) from 8am-10am every Tuesday. Sign-up for weekly reminders through this form.
September 21, 2021 online: Join the Vancouver Entrepreneurs’ Forum online for their The Future of Retail featuring Azure Capital Partners, Salesforce, Later and Cymax.
Have you heard? SAAS NORTH is back this November 17-18 in Ottawa. Early Bird tix are on until Oct 14 and you can save an additional 25% with the code VTJ25—run, don’t walk to grab your tickets: saasnorth.com/register-full
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