NOVEMBER 2024 UPDATES
FUND III
Featured prominently on the front page of the business section of the Globe and Mail with coverage by Sean Silcoff, one of the top tech journalists in Canada.
Hosted their 2nd annual Worth of Water summit with attendance from 70+ leading growers including Gallo, Jackson Family, and Treasury, kicking off their sales season with $500K in quotes sent.
Finalized product architecture on time and under budget with V1 expected to be ready by the end of the year. Onboarded a full time COO to help enable their go to market strategy.
Announced the launch of their commercially available real time Distribution System State Estimator – a game changer in providing electric grid situational awareness for complex and high DER distribution networks. Its best in class capability led them to win the DOE’s 3D Solar Visibility Prize.
Shipped 4 DB 1-B bikes, 1 swap station, and 4 home chargers to Kenya. Started doing roadshows and test rides with Boda riders and fleets and delivered their first vehicle to a customer.
FUND II
Launched their new nitrous oxide sensor that allows growers to reduce N₂O emissions while achieving accurate impact quantification.
Obtained customer approval of a contract for carrots, now with the procurement team for finalization, representing potentially seven figures annually at scale. Onboarded Pat Flynn as their fractional director of sales.
Hit a new high water mark with over 400,000 units processed in November. Welcomed Joe Craig as their VP, Operations.
Closed the first two deals for their AI, 'Arlo', representing ~US$78K ARR and continued to receive strong market interest, with 20 more demos booked. Released their flexible document verification feature.
Closed the strategic financing with RectorSeal and began distribution planning to expand the Flair footprint.
Launched a collaboration with Rent the Runway to encourage circular shopping and brought in PayPal’s Head of Enterprise Sales as Chief Commercial Officer to drive merchant partnerships.
Selected as finalists in two categories for the Burnaby Board of Trade's Business Excellence Awards: Entrepreneurial Spirit and Environmental Sustainability.
Closed $28.5K in new logos and have $213K in the latest stage of the sales process. Released two beta modules as stand-alone products: ocean container tracking and supplier and customer information management and mapping.
Completed installation at Alamo Plaza in Vacaville, CA and West Side Plaza in San Bernardino, CA, together providing over 790 kW of solar capacity to 45 tenants.
Announced their partnership with Ansys, a world-leading simulation software provider, to make Metafold's advanced design capabilities available within the Ansys Discovery platform.
Closed their first ever "real-time rates" deal with ComEd to provide EV managed charging to customers on dynamic rates.
In final procurement for a contract with a European utility that will nearly 2X existing ARR and create a framework for significant expansion revenue.
Achieved their best-ever simulation results and successfully demonstrated their first dynamic freight recommendation engine in-action aboard a G&W locomotive–a game-changing technology featuring live recalculation and adaptability capabilities.
Completed building a 0.5 MWh unit for backup power and peak shaving use cases. The factory acceptance test was initiated and is in the final stages of completion.
Vistete de Colombia, a purchasing group partner of Tengiva representing 300 brands, announced plans for Colombia Textiles: a Tengiva-powered platform set to launch in summer of 2025 as the official world marketplace for anyone sourcing textiles from trusted suppliers in the $5B Colombian market.
FUND I
Closed $4M of their $6M bridge round with existing investor, Ecolab, and received verbal approval for a $991K capex and 3-year service deal with Niagara Bottling for upgrading a new location.
Converted six figure deals with multi-family REITs with assets under management over $10B.
Continued to progress on a joint development agreement in relation to the commercialization of the Frost CC technology.
Named to Foresight Canada’s 2024 most investible cleantech ventures leading the way toward a net-zero economy. Collected their first chopsticks in Japan at the Kawasaki International Eco-Tech Fair as a special exhibitor leading up to Tokyo Microfactory operations.
Secured a new contract with a 400MW offshore wind farm in Germany and commissioned Stage 2 of Clir’s Life Extension solution for an existing client’s major wind site. All farms in a major renewable energy portfolio are now contracted with Clir, including their largest 200MW+ site.
Signed Diversified Restaurant Group for a 140 site rollout with the potential to expand to 300 sites across the footprint in 2025.
In discussion with 2 major global consulting firms to use Manifest capabilities within their own existing technology infrastructure for both Audit and Advisory services in ESG Compliance, particularly around CSRD standards.
Received a $1.5M IRAP grant that will help Social Nature provide customers with AI powered insights, improve the self-serve capability efficiency, and gamify the grocery shopping experience for users.
Awarded third place in the cleantech category of Deloitte’s Technology Fast 50 awards and ranked #64 on their Technology Fast 500 list.