The app developer raised its Series B equity financing from the Canadian Business Growth Fund (CBGF), Export Development Canada (EDC) and the U.K.-based BGF. Both CBGF and BGF were previous investors in the Vancouver-based startup, which helps businesses develop mobile apps and improve the experience of users on an existing app. (The Logic)
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The app developer raised its Series B equity financing from the Canadian Business Growth Fund (CBGF), Export Development Canada (EDC) and the U.K.-based BGF. Both CBGF and BGF were previous investors in the Vancouver-based startup, which helps businesses develop mobile apps and improve the experience of users on an existing app. (The Logic)
Talking point: This is the latest round of financing for Appnovation, after it raised $15 million from CBGF and BGF in August 2019, helping it scale up its team by 30 per cent. The money raised will be used mostly for international expansion, according to the company’s founder and CEO, Arnold Leung. EDC became the startup’s latest investor, supporting the company because of its global expansion plans. Appnovation’s most recent venture was a partnership with B.C.’s Ministry of Health in developing a digital solution that would reduce the risk of COVID-19 cross contamination between health-care facilities.
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