Vancouver Tech Funding Boosts Clarius, Fintel Connect, and Five Others with New PacifiCan Support

• Vancouver tech funding: PacifiCan announces $14 million investments for seven Vancouver tech organizations
• Funding includes $11.5 million for four companies through Business Scale-Up and Productivity program
• Companies receiving funding include Clarius Mobile Health, Fintel Connect, Augurex, and others
• Clarius Mobile Health to use $3.3 million for global sales of wireless ultrasound device
• PacifiCan expects investments to generate $330 million in revenue growth

Vancouver Tech Funding Boost: PacifiCan Invests $14 Million in Seven Local Organizations

In a significant development for the Vancouver tech scene, the Pacific Economic Development Agency of Canada (PacifiCan) has announced a substantial investment of approximately $14 million to support the growth of seven businesses and organizations in the region. This funding, unveiled on March 14, aims to fuel innovation, drive productivity, and foster economic development in Vancouver’s thriving tech sector. Let’s delve into the details of this exciting funding initiative and explore how it is set to impact the local tech ecosystem.

Clarius Mobile Health: Revolutionizing Healthcare with Wireless Ultrasound Technology

One of the standout recipients of PacifiCan’s funding is Clarius Mobile Health, a Vancouver-based startup that specializes in developing wireless handheld ultrasound scanners. With a focus on empowering healthcare practitioners to manage and perform exams from anywhere, Clarius has been at the forefront of innovation in the medical technology space. Having previously received funding from InBC, Clarius secured a significant $3.3 million investment from PacifiCan to drive the global sales of its cutting-edge wireless ultrasound devices.

CEO and President of Clarius Mobile Health, Ohad Arazi, expressed his excitement about the investment, noting that it comes at a pivotal moment for the company as it looks to expand its reach in key international markets. The infusion of capital from PacifiCan will undoubtedly bolster Clarius’s growth trajectory and further solidify its position as a leader in mobile health technology.

Related Video

Published on: February 17, 2021 Description: Join BC Tech for a candid conversation with founder and funders. You need capital to grow and scale your company. Find out ...

BC Tech: Funding Options for Your Startup

Fintel Connect: Empowering Banks with Innovative Client Acquisition Solutions

Another Vancouver tech organization benefiting from PacifiCan’s funding is Fintel Connect, a dynamic startup that received $1.5 million to fuel the expansion of its sales and marketing teams. Fintel Connect specializes in assisting banks with client acquisition, brand recognition, and performance analytics, catering to prominent financial institutions such as National Bank and the Royal Bank of Canada. With backing from BankTech Ventures and Export Development Canada, Fintel Connect is poised to leverage the investment to enhance its offerings and drive continued growth in the competitive fintech landscape.

Augurex: Pioneering Biotech Solutions for Rheumatoid Arthritis Detection

Augurex, a biotech firm dedicated to advancing healthcare through innovative solutions, secured a substantial $5 million investment from PacifiCan to advance the commercialization of its new antibody blood test for the early detection and monitoring of rheumatoid arthritis. This sizeable funding injection marks a significant milestone for Augurex, enabling the firm to accelerate the deployment of its groundbreaking diagnostic technology and make a meaningful impact in the field of rheumatology.

With a focus on improving patient outcomes and revolutionizing disease detection, Augurex is well-positioned to leverage the financial support from PacifiCan to drive innovation and bring its cutting-edge biotech solutions to market.

CarboNet and BC Tech Association: Driving Cleantech Innovation and Workforce Development

In addition to Clarius, Fintel Connect, and Augurex, PacifiCan’s funding initiative also extends to other notable organizations in the Vancouver tech ecosystem. Cleantech startup CarboNet is set to receive $1.6 million to advance the commercialization of its biodegradable product for wastewater treatment, BioFloc. Recognized as one of Foresight Canada’s top cleantech companies, CarboNet is poised to make a significant impact in the sustainability space with the support of PacifiCan’s investment.

Furthermore, the BC Tech Association, a key player in fostering tech talent and innovation in the region, will utilize its $1.1-million investment from PacifiCan’s Jobs and Growth Fund to deliver essential training programs. These programs are designed to equip BC residents with the skills needed for entry-level roles in high-demand sectors such as cybersecurity, data science, and digital marketing, thus bridging the gap between talent supply and industry demand in the tech sector.

PacifiCan’s latest round of investments underscores the agency’s commitment to driving economic growth, fostering innovation, and supporting the advancement of Vancouver’s tech ecosystem. By injecting $14 million into seven diverse and forward-thinking organizations, PacifiCan is not only fueling the growth of these tech pioneers but also catalyzing the broader impact on the local economy. As Vancouver continues to solidify its position as a hub for tech innovation and entrepreneurship, the support from organizations like PacifiCan plays a pivotal role in shaping the future trajectory of the city’s tech landscape.