Startup TNT bets big on entrepreneurs

Welcome to this week's Sunday Briefing. In this issue, read about recognition for Startup TNT, plus 8 other stories you may have missed. Have a great day. We'll see you again on Wednesday.

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Startup TNT bets big on entrepreneurs

What’s not to like about an organization whose motto is, “Have fun. Make Friends. Build Companies?” And it is, in fact, exactly what Startup TNT is doing.

Have fun and make friends? With Thursday night happy hours for entrepreneurs and investors in five different cities, Startup TNT certainly has that covered. And when it comes to building companies, there’s little doubt.

Last week, Startup TNT was recognized in the Canadian Venture Capital & Private Equity Association’s (CVCA) 2023 Canadian Venture Capital Market Overview as the most active pre-seed and seed stage investor in Western Canada.

The CVCA noted that Startup TNT’s 16 pre-seed investments make it the most prolific pre-seed investor in the country. Combined with its additional 13 seed investments in 2023, Startup TNT is the second-most prolific early-stage investor – with 29 deals – across Canada out of the 15 acknowledged in the report’s Pre-Seed and Seed category breakdowns.

“Against the backdrop of tech sector uncertainty, and in a year where Canadian venture capital funding dropped, we doubled-down, maintaining our belief in the power of grassroots community engagement to uncover promising investment opportunities,” said Tim Lynn, co-founder of Startup TNT.

“Startup TNT was born out of a desire to help entrepreneurs build from their own regions and to unlock access to a community of angel investors who want to back the next generation of great Canadian companies,” added Zack Storms, co-founder of TNT. “To that end, we’re proud of the nearly 30 new companies we added to our portfolio last year, and thankful to the investors, partners, and funders who serve as the foundation of our work today and that will power us as we expand our network and impact.”

Startup TNT hosts tri-annual Investment Summits as a platform for entrepreneurs and innovators seeking seed-stage funding. The Summits provide an opportunity to receive seed funding for founders and to build relationships with investors and other participants in the startup community.

For investors, the Summits offer a team-based diligence process, which provides a more efficient, distributed model for experienced angels to make seed-stage investments, and a collaborative training model for those exploring angel investing for the first time. At the end of the process, selected startups typically take home upwards of $100,000 from angel investors, while Startup TNT’s own venture capital fund, TNT Capital, invests another $50,000 into the winners.

Startup TNT has three upcoming pitch nights for agri-food, cleantech, and life sciences on March 14.

🤝 Funding, Deals, and Partnerships

• Blackline Safety achieves AWS public sector partner status. To achieve program status, the company successfully completed a rigorous AWS Foundational Technical Review of its Blackline Live software. Blackline Safety

• Exro announces closing of $30 million bought deal financing of subscription receipts. Exro has developed new generation power control electronics to expand the capabilities of electric motors and batteries. Exro Technologies

• PASQAL, University of Calgary and Quantum City initiate new quantum computing partnership. The collaboration aims to advance quantum technologies, foster innovative research, and create a robust talent pipeline in Alberta. The Quantum Insider

• Japan’s Kajima Corporation makes direct investment in Eavor Technologies Inc. The Kajima investment not only strengthens Eavor’s balance sheet, enables the growth and deployment of Eavor’s technology in various market sectors, it also represents the third major investment in the company by a Japanese entity. Eavor

📰 Need To Know

• Innovators of the Week: Kajal Dattani and Ange Paye’s App Creates Digital Engagement for Social Good. Voto helps businesses create meaningful connections with their audiences through digital engagement campaigns that provide micro-donations to charities. Avenue Calgary

• Lightspeed's Dax Dasilva on what's next after his return as CEO. Watch: Dax Dasilva talks about why he is back at the helm of the payments company. Calgary Herald

• NAIT set to grow from four schools to seven. The Northern Alberta Institute of Technology is shaking up its academic structure to respond to industry needs as it looks towards 2050, a senior leader said. Taproot Edmonton

• Where humanity meets technology. Neuroscientist Dr. Poppy Crum takes the main stage at Inventures 2024. Alberta Innovates