Toronto-based InCapital Ventures led the round, with participation from a group of investors including two other VCs from the city: Plaza Ventures and Kensington Capital Partners. Also today, Iguazio announced its AI platform will be used for real-time fraud detection by digital payment firm Payoneer, which has four million customers. (The Logic)

Talking point: Canadian venture capital firms are increasingly interested in Israel, which produces 1,400 startups per year and spends a greater percentage of its GDP on research and development than any other OECD country. InCapital is a newly founded firm focused on investments in early-stage Israeli companies; it has two firms in its portfolio so far. This is Kensington’s first investment in Israel; last month, Kensington managing partner Rick Nathan told The Logic he was in the process of closing this deal, as well as looking at other deals and fund investments in the country. The focus on Israel comes as the Canadian VC landscape is getting increasingly competitive: $2.4 billion was invested in Canadian VC in the third quarter of 2019, a six-year high.