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May 2015 Edition 

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Bit Stew to expand commercial horizons with GE-led $17.2 mln funding

On May 12, Bit Stew Systems, the Vancouver-based provider of data integration and management solutions to utilities, closed a Series B financing to bring its technology to a broader range of customers, including energy businesses.

GE Ventures led the round that provided Bit Stew with US$17.2 million ($20.6 million CAD). Cisco also committed to the Series B alongside Yaletown Venture Partners and several new investors, including BDC Capital. The latest round brings Bit Stew’s total funding to more than $30 million.

Yaletown first invested in Bit Stew in 2013 as it was ramping up sales to utility customers. That initial emerging-growth financing helped Bit Stew to expand and attract more than 40 customers among North America’s major electric, natural gas and water utilities. Now, just two years later, Bit Stew’s growth helped them close a second-round of financing.

Bit Stew’s technology is at the intersection of the Internet of Things, big data and industrial control systems and is helping large industrial companies refine their operations. For example, because of the complexity of most utility networks, which include vast arrays of sensors, power theft or undetected outages are significant issues yet extremely hard to detect in the data maze. Bit Stew specialises in gathering data from such vast networks and provides real time software tools that allows customers to detect issues before they become major problems. Bit Stew’s data integration and management technology fits well with Yaletown’s sector focus  in sustainability innovation and intelligent enterprise.

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Solegear Bioplastic Technologies Inc. Announces Stock Exchange Listing

Solegear Bioplastic Technologies Inc. (TSX.V – SGB), a Vancouver-based company that develops, produces and distributes high-performance bioplastics, announced it commenced trading on the TSX Venture Exchange on March 31, 2015, under the symbol SGB.  

In conjunction with the listing, Solegear completed a $4.2M financing round that will continue to support the company’s growing sales and marketing, and product development and delivery activities.
 
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Cooledge launches Square and wins top Globalshop 2015 award

Cooledge demonstrated its strength this quarter launching its new product Square and winning top honours at Globalshop 2015, a major retail merchandizing trade show.

Early in March, Cooledge launched SQUARE, expanding the company’s light sheet portfolio. SQUARE is a one foot by one foot, UL Listed lighting product that can be snapped together to create a larger lit plane and can be trimmed to size, even while powered. SQUARE can be used for general illumination and backlighting and used in curved, convex and concave architectural elements.

Cooledge also won Best in Show – Platinum, the top award of the 2015 GlobalShop conference. Awards are selected by judges from design:retail magazine and the International Interior Design Association.

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Yaletown investment in Showbie gets publicized with new product launch

On May 24, Edmonton-based Showbie, the company that makes it easy for 1.2 million teachers to assign, collect and review student work on their mobile devices, launched Showbie 2.0 extending use beyond iPads to include iPhones and access from any web browser. Along with the product news, Showbie publicized its investors naming Yaletown, Point Nine Capital, Kymbask Investments Inc., and Imagine K12 as financial partners.

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Awards – 2015 Ready to Rocket Winners
Yaletown portfolio companies were well represented in the BC tech awards program that recognizes revenue growth leaders. Congratulations to all of the winners:
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