St. John's-based Kraken Robotics said Monday it has closed a deal, announced last week, to raise $10 million from a consortium of investment bankers, who will then have the option to sell their stock on the TSX Venture exchange.

The $10 million raise was a “bought deal,” meaning that although Kraken shares are already publicly traded, the newly issued stock was sold to underwriters, rather than

Nova Scotia venture capital agency Innovacorp's portfolio is performing so well that the provincial Crown corporation is hoping to self-finance its operations going forward without government support, according to Vice-President of Investment Andrew Ray.

In a wide-ranging interview Monday, Ray said Innovacorp's portfolio is the strongest it's ever been, boosted by an exit, a few public listings

Charlottetown-based life sciences company AffinityImmuno Inc. is teaming up with the University of Western Ontario to conduct animal tests on a compound they believe can battle COVID-related viruses.

Founded by the husband-and-wife team of Jonathan and Amir Zuccolo, AffinityImmuno specializes in antibodies, which are proteins used by the human body’s immune system to search out “foreign

Moncton startup hub Venn Innovation has been honoured by the Technology Councils of North America as part of their third annual TECNA Innovation Awards, winning the Innovative Member & Client Services award for its Venn Garage incubator.

Venn Garage, unlike most incubators, is not cohort-based. Instead, it is self-paced, and companies compete to gain entry at quarterly pitch competitions. The

The University of New Brunswick has named the nine Atlantic Canadian companies going through the second cohort of Scale Up Atlantic Canada, which helps companies accelerate their revenue growth.

In 2018, the university’s J. Herbert Smith Centre for Technology Management & Entrepreneurship – commonly known as TME – teamed up with Boston-based Babson College to create its new accelerator. It is

EY Canada has named seven winners in the Atlantic division of the 2021 Entrepreneur of the Year competition.

The global consultancy this week revealed the winners for all Canadian regions, including the Atlantic winners. These regional winners will now move forward to compete at the national awards celebration in November, where 10 national winners will be named.

These winners will include

Having sold its Squiggle Park online reading game, Halifax-based edtech company Eyeread is planning to focus on developing a platform that can be used to deliver educational content, including games, to students.

Bellevue, Wash.-based DreamBox Learning issued a statement Tuesday announcing the acquisition of Squiggle Park from Eyeread, though it did not disclose a price. Before the sale, which

Online startup accelerator Propel has announced the 16 companies participating in its Vision and Validation program, which is its new training program for the founders of very early stage companies.

Six of the companies are from New Brunswick, five are from Newfoundland and Labrador, four are from Nova Scotia, and one is from Ontario. The program started July 12, and focuses on teaching new

St. John's-based Kraken Robotics said Wednesday it has inked a deal to raise $10 million by selling shares to a consortium of underwriters led by investment bank Canaccord Genuity Corp. It will also buy another Newfoundland and Labrador company, PanGeo Subsea, in a cash and stock deal worth more than $14 million.

Kraken shares, which trade on the TSX Venture exchange, fell more than 17 percent

Halifax-based respiratory therapy startup NovaResp has received Health Canada approval to conduct an “interventional study” at the city’s Queen Elizabeth II hospital, testing its sleep apnea treatment on 25 patients with the condition.

Founded by Dalhousie University PhD graduate Hamed Hanafi, NovaResp is developing software to use data from CPAP machines to predict when a sleep apnea patient