SomaDetect Inc.

SomaDetect in its $2.6 million financing round

Client

SomaDetect Inc.

Value

$2.6 million

Service

Emerging and High Growth Companies

Date Closed

August 2019

Industry

Venture Capital

Lead Office

Toronto

 

On August 12, 2019, SomaDetect Inc. completed its $2.6 million financing round that included investments from New Brunswick Innovation Foundation, the Western New York Impact Investment Fund, and New York Ventures. The startup will use the funds to expand as it works with dairy farmers and industry partners in North America to enhance and scale its technology using algorithms.

SomaDetect Inc. is a Fredericton, New Brunswick-based startup that has developed an in-line sensor which helps farmers measure key indicators of milk quality and health through deep learning algorithms and visualization software.

Osler, Hoskin & Harcourt LLP advised SomaDetect Inc. with a team consisting of André Perey, David Jamieson, Horatiu Porime (Emerging & High Growth Companies), Summer Danakas (Employment & Labour).