Ottawa-based Ranovus announced a US$24 million round of financing today. The company is a leading provider of multi-terabit interconnect solutions that help computer storage networks run faster and operate for less cost. Investors in this round included Azure Capital Partners, T-Venture, BDC Venture Capital and OMERS Ventures. After raising $11 million last year, the company says this latest round of financing will be used to accelerate its expansion plan. The company received seed funding from the MaRS Investment Accelerator Fund.
Cleantech company REGEN Energy announced yesterday the closure of a Series B funding round in excess of $12 million. REGEN Energy provides a smart grid technology platform for demand management that is affordable and easy to use, and can reduce energy costs. The round was led by new investors, including a major US utility company, Export Development Canada and EnerTech Capital, and was supported by existing REGEN investors BDC Capital and NGEN Partners. Pete Malcom, president and CEO of REGEN Energy, says the funding will be used to bring the company’s product to more commercial and industrial organizations. The company received seed funding from the MaRS Investment Accelerator Fund.
Supply chain management software company Nulogy has raised $7.5 million in growth financing led by Red Sky Capital Management. Nulogy provides cloud-based supply chain management software for companies that helps improve processes and enhance customer service. The company received seed funding from the MaRS Investment Accelerator Fund.