AB startups raised $225.5M in Q1

Guess who raised the biggest round?

Author

William Johnson
May 10, 2023

Welcome to the Midweek Memo: a weekly digest of the city’s top tech events, personnel moves, job openings, and industry opportunities.

Before we get into this, check out the results from Sunday’s Weekly Poll: On Sunday, we asked readers, “What kind of networking events are missing from Calgary's tech ecosystem.” 40% of you said founder-only meetups. Well, we’re working on it – and if you’re interested in hosting, please get in touch: [email protected]

Now, onto your Midweek Memo…

Mercator co-founders Chloe Smith and Hogan Lee. The startup raised $5.2M in Q1.

AB startups raised $225.5M in Q1

According to Briefed.in, Alberta startups raised $225.5 million as part of seven investments in the first quarter of this year.

It’s a 33% increase in total investment and a 40% increase in the number of deals compared to last quarter. However, if you compare it to Q1 of 2022, this latest quarter has seen the total investment increase by 10% and the number of deals decrease by 65%.

Per Briefed.in, “In this quarter 15% of the deals were in FinTech, 15% in LegalTech, and 15% in GeoTech.” The top seed and pre-seed deals are Future Fields ($15.1M), IrisCX ($6.2M), and Mercator AI ($5.1M).

The top Series A+ deals are Jobber ($133.7M Series D), Summit Nanotech ($50.0M Series A), and Nanoprecise ($13.4M Series B).

Calgary Tech Events

TOMORROW: Digital Commerce Calgary Fintech Award: Showcasing the 2022 winners

  • Meet the 2022 Calgary Fintech Awards winners Fillip and Woveo at the Platform Innovation Centre, and get a chance to discuss how the Award impacted their companies.

  • This is a great opportunity to connect with the Calgary fintech community, get the first scoop on this year’s Award, and see what the two winning startups are up to now.

May Pixels and Pints | May 15

  • For thirteen years, Calgary's best and brightest in tech and digital design have been meeting for drinks. Sometimes there's cake.

A100 AccelerateAB Roundtables | May 17

  • Founded in 2010 by the A100, the AccelerateAB Roundtables are an opportunity for scaling or growth stage Alberta-based tech-focused companies to participate in an intensive 1:1 advising session with A100 Charter Members — some of the most successful tech leaders in the province who have built, scaled, and exited technology startups themselves.

Plug and Play Alberta EXPO Spring 2023 | May 29-30

  • Join the Plug and Play Alberta EXPO in Downtown Calgary at The Ampersand to celebrate the graduation of their Spring 2023 cohorts.

  • The event will showcase top technology innovators from across four industry-specific startup accelerator programs, including Health, Sustainability, Agnostic, and Food & Beverage.

Calgary Tech Jobs

Three more opportunities for you