Tech Roundup #24 - Disruption welcomes new columnist irlabs and more!

Did you hear that Disruption has welcomed a new columnist - irlabs ? Keep an eye out for exclusive content regarding startup investment and fundraising in our new section 'Launch Pad ,' releasing on May 15, 2024. Each month, Launch Pad will feature a new article packed with investor insights, tips, and trends to help founders reach higher heights while navigating the complexities of the capital markets.

irlabs founders Alyssa Barry, CPIR and Caroline Sawamoto have extensive expertise in investor relations that they're ready to share so you'll want to give this a read!?

Learn more about these two founders here .?

Here’s more that caught our eye this week in our #techroundup.

• Fredericton-based Potential Motors (CEO Sam Poirier ) secured $2 million CAD in seed funding to launch its terrain-perception software for off-road vehicles, leveraging computer vision and AI for advanced driver-assistance systems. The investment, primarily from existing backers like Brightspark Ventures and Build Ventures, aimed to propel the commercialization of Potential's core technology, Terrain Intelligence, addressing safety and performance concerns in various sectors including automotive, power sports, mining, and defense.
• AlterBiota (CEO Mark Masotti ) successfully closed a $4 million seed round , led by Invest Nova Scotia and BDC Capital’s Climate Tech Fund, to develop its sustainable concrete additive. The funding will enable AlterBiota to conduct industrial product trials, establish a commercial-scale plant, and expand its team as it progresses toward commercialization. With a focus on cost-effective concrete decarbonization, AlterBiota aims to make significant strides in greening the construction industry while delivering value to customers.
• BioIntelligence Technologies (CEO Joel Sirois ) secured $5 million CAD in seed funding led by Amplify Capital to enhance its platform aimed at optimizing industrial fermentation bioprocesses, reducing production losses by 10 to 40 percent, and curbing CO2 emissions by 2.4 million tonnes. The investment, supported by Amplify Capital, Investissement Québec, Real Ventures, and others, will fuel Biointelligence's expansion strategy in the United States and Europe through key hires and strategic partnerships. With its flagship product, the BioIntelligence Analytics Solution (BAS), the Sherbrooke-based startup offers real-time analytics for plant operators, leveraging machine learning to enhance batch yields by five to ten percent.
• Calgary-based Galatea Technologies (CEO Chad Hayden ) secured $2.7 million CAD in seed extension funding from Staircase Ventures , Ascent Energy Ventures , and NGIF Capital , aiming to export its waste management logistics software to the US amid increasing regulatory pressures. The investment will support Galatea's expansion strategy and further development of its solution for tracking and disposing of hazardous waste in the oil and gas industry.
• The Alberta government has allocated $57 million to 28 hydrogen power projects , aiming to establish the province as the "hydrogen capital of Canada." Investments from Alberta Innovates and Emissions Reduction Alberta will support initiatives covering various aspects of the hydrogen economy, including production, storage, and usage. Startups like Ayrton Energy, Ekona Power, and Gradient Thermal are among the recipients, advancing technologies for hydrogen storage, methane pyrolysis, and energy-efficient heating systems.

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