Idealist Capital and Real Ventures, both also Montreal-based, led the all-equity financing, a follow-on from Spark’s $48-million Series B round in March 2023. Participating investors included Cycle Capital, Export Development Canada and ND Capital. (The Logic)

Talking point: Spark’s technology is an alternative to widely-used connectivity systems like Bluetooth or Wi-Fi. It instead uses the ultra-wideband end of the wireless spectrum, which it claims lags less, carries more data and requires significantly less power. Its technology is already being used in gaming accessories, audio devices, wearables and sectors like logistics management, said CEO Fares Mubarak. Spark is now looking to expand into physical AI, including robots and AI gadgets. It’ll use the new funding to commercialize its technology in new products, and to add to its workforce of about 85, Mubarak said.