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The Tel Aviv-based agtech company closed a seed round led by Jerusalem Venture Partners. (BetaKit)

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Talking point: Greeneye Technology uses artificial intelligence to identify weeds from crops and spray them in real time. Founded in 2017, the company was part of Techstars’ 2018 artificial intelligence program in Montreal and has since set up an office in the city. Panache Ventures participated in the startup’s pre-seed round in December 2018. Greeneye said the new funds will be used to commercialize its technology and expand its research and development, as well as its strategic partnerships.

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The seed-stage venture capital fund’s investors include the Yukon government and seven Yukon First Nations, who invested a combined $5 million. Other investors include Alberta Enterprise, Fonds de solidarité FTQ, Investissement Québec and institutional investors like the National Bank of Canada, BMO and Telus. (The Logic)

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Talking point: This is the first time a syndicate of Yukon First Nations has invested in a venture capital fund. Yukon’s government is trying to expand the territory’s economy beyond resources and tourism, and Panache has pledged to develop Yukon’s tech startups as part of the deal—the firm recently backed Whitehorse-based software company Proof, and has committed to visiting the territory frequently to advise startups and angel investors. While its tech sector is small, with around 10 to 20 tech startups, the government is betting on Panache’s focus on seed-stage investments. It is the only national startup fund focusing on that stage; Canada’s VC scene is gravitating toward later-stage companies, with megadeals (those worth more than $50 million) making up a growing portion of total VC investment since 2016.

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Baltimore-based Resolve Growth Partners led the round, with participation from Salesforce Ventures and Panache Ventures. Acto sells an analytics platform for doctors and life sciences salespeople. (The Logic)

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Talking point: Acto is using the funding to launch an AI tool to help healthcare workers find details on drugs and medical devices. The firm has raised US$14.1 million so far. It closed this round in April but delayed announcing partially due to the pandemic. Salesforce Ventures announced a US$100 million fund for Canada in May 2018. This is the fund’s second recent announcement of a Canadian investment, following its July backing of Kitchener-Waterloo-based Bridgit.

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Luge Capital, Panache Ventures and Intact Ventures also invested in Flinks, which is looking to open a U.S. office with the funds and double its 65-person staff in the next few months. (Betakit)

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Talking point: Flinks is also planning to use the funds for a new wealth management product. That’s a crowded, but lucrative, area of focus for a number of Canadian fintechs. In January, The Logic reported that Toronto fintech d1g1t was expanding to the U.S. after passing $50 billion in assets under management in part by partnering with large financial institutions. Flinks is taking a similar approach, and has relationships with several members of the Big Five banks in addition to projects it’s working on with National Bank. Flinks’s raise is the latest example of how fintechs continue to attract investors despite the pandemic. In London, for example, 39 per cent of all tech investment in 2020 so far went to fintechs.