Hamilton startups raise millions in funding
Three Hamilton-based startups recently announced funding rounds totaling $2.5 million, according to a story published by Betakit.
Obie.ai raised $1 million in February, led by High Park Angels in Toronto, and included Dash40, Enterprise Fund, Sherpa Capital, and Conconi Growth Partners, among others. The startup, which has created an artificial intelligence-based assistant for businesses, also recently announced Obie Access, a tool that gives companies a way to leverage AI to manage the new wave workplace requests caused by the COVID-19 pandemic.
Ackroo, a loyalty marketing, gift card, and payments technology startup, has received an additional $1 million CAD of working capital from BDC Capital. Under the terms of the loan from BDC, Ackroo received a second and final tranche of $1 million from their previously approved $4 million loan.
Ackroo, which is based in Stoney Creek, Ont., also received approval from the Royal Bank of Canada (RBC), in cooperation with Export Development Canada (EDC), to increase the company’s current revolving line of credit from $350,000 to a maximum of $1.6 million.
And finally Hamilton-based MergeBase, which aims to protect users against vulnerabilities in software, has raised $500,000.
Investors in the round were not disclosed. MergeBase will use the funds to ramp up sales and distribution. The startup’s solutions are aimed at large enterprises and one of its customers is a government agency that the company says processes “trillions of dollars” in payments every year.