FY20-Annual Report -Mar23 - Flipbook - Page 11
VENTURE SPOTLIGHTS
ACE
ACE is a personalized interview preparation platform
that helps users foster confidence in interviewing.
They provide users the tools and research-backed
mock interview questions that will help prepare effective answers and develop strong communication
skills.
MILESTONES
• Raised $27,000 during the Next 36 program and
hired developers during their crucial product
development stage
• Brought on Dr. Ashley Mehlenbacher from the
Univeristy of Waterloo as an advisor on the
science of communication to increase the
efficacy of ACE's AI
• Will be launching their platform May 2021 to
coding bootcamps across the U.S. and Canada
MOMENT ENERGY
Moment is replacing diesel generators for remote
communities by repurposing electric vehicle batteries into sustainable energy storage. They’re currently
the only Canadian company with a supply relationship with Nissan North America and the City of Seattle, and are currently in talks with three additional
auto manufacturers for partnerships.
At NEXT’s annual Venture Day, Moment Energy was the
winner of The Scotiabank Outstanding Contribution to
Society Award as well as The RBC People’s Choice Award
MILESTONES
• Deployed first 5 kWh pilot 2nd life EV battery
project at the Canadian Hydro Kinetic Turbine
Test Centre storing solar, hydro and grid energy
• Secured multiple pilot projects for 2021 at the
20-100 kWh battery size
• Expanding the team to hire key engineers, business members and moved into their first manufacturing facility
• Secured $200K in pre-seed financing as they
work towards their $2M raise in 2021
ALT TEX
INTELLICULTURE
ALT TEX creates B2B sustainable textile solutions
for environmentally-conscious fashion designers and
brands, through re-engineered post-industrial waste.
By chemically converting landfill-destined paper
waste, food waste and agricultural by-products, ALT
TEX creates natural and semi-synthetic textiles that
are carbon-neutral, and biodegradable.
IntelliCulture helps farms manage their equipment
fleet with data analytics captured through IoT
data loggers, enabling them to grow their farm
into a sustainable and scalable business. They
provide a small GPS and logging device into farm
machinery which enables their software system to
provide visibility into crop coverage, equipment
health and maintenance planning for farms.
MILESTONES
• Grew team to 3 members and 6 research staff
• Secured a large scale contract with food waste
supplier—enough to produce 600,000 metres of
fabric annually
• Secured 10 LOIs worth over $1M
• Advisory Board includes the former Director
of Innovation and Lululemon Athletica
• Secured $150,000 in non-dilutive funding and
initiated $800K USD seed raise in February, with
50% of the round completed
MILESTONES
• Signed Constellation Brands' Tom Gore
Vineyards as a customer
• Launched their latest product, CabView,
an app that manages orchard spraying and
ensures proper coverage and provides feedback on mis-spray events
• Secured a pilot with Glen Elgin Vineyard
Management
• Oversubscribed their first round of financing
“
ALT TEX simply wouldn’t have had even half the exponential trajectory we garnered
through Next 36. Beyond the fantastic curriculum that equipped us with the hard-skills
needed to operate our startup, the incredible NEXT Canada network unlocked doors that
a young startup otherwise just would not have access to.
Myra Arshad (Next 36, 2020)
Co-founder, ALT TEX
10
11