Ryerson University

Robert Bosch Venture Capital leads $3.75 million Series A round for Flybits

Toronto start-up to advance context-aware mobile experience platform

Flybits Corporate LogoTORONTO, Canada (August 20, 2014) — Flybits Inc., a Toronto start-up that has created a context-aware experience development platform for mobile environments, has closed a $3.75 million Series A financing. Led by Robert Bosch Venture Capital GmbH (RBVC) and Trellis Capital Corporation with participation from MaRS Investment Accelerator Fund and Ryerson Futures, Inc., the investment will advance the company’s product development and international growth in the United States and Europe.

This announcement was covered in the National Post, TechVibes, Fortune Magazine‘s Term Sheet Blog (Dan Primack), BetaKit, Yonge Street Media and PEHub.

Since spinning off from Ryerson University in 2012, Flybits has raised a total of $4.05 million to date, including a seed round from MaRS Innovation. Flybits technology has been used in developing smarter cities, connected stadiums, smart corporate campuses, shopping malls, conference venues and even fashion shows. The company also concurrently incubated its technology at the Ryerson Digital Media Zone in Toronto and Vodafone Xone in Redwood City, California.

“Flybits is RBVC’s first investment in Canada,” said Luis Llovera, managing director of Robert Bosch LLC based in Palo Alto, California. “The company has demonstrated a unique and innovative approach in building foundational technology to deliver Contextual Mobility Services for both display-driven devices and for the emerging Internet of Things applications. Flybits’ strong roots in tangible and high impact R&D, their ability to predict the required infrastructure for the industrial Internet and their global entrepreneurial ambitions were some of the reasons we were attracted to this company.”

“Involving high-quality investors such as Bosch and Trellis demonstrates the potential in our unique approach to designing Intelligent Mobility Solutions that are intuitive and scalable,” said Dr. Hossein Rahnama, CEO and founder of Flybits. “In particular, having Bosch as a strategic investor means we leverage their global expertise in software automation, connected communities and sensor technologies as we support new and existing international customers, and scale and develop both our team and our products.”

“Recognizing the Flybits’ platform potential to create next-generation mobile experiences at an early stage, MaRS Innovation worked closely with Flybits to launch the company and secure initial market traction,” said Dr. Raphael Hofstein, president and CEO of MaRS Innovation.

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WaveCheck campaign part of new study on crowdfunding medical research

MI’s Fazila Seker also interviewed in National Post article on what prompts medical researchers to consider crowdfunding

WavecheckThe WaveCheck crowdfunding campaign, which raised $53,390 on Indiegogo to support clinical trials for a clinical technique invented by researchers at Sunnybrook Health Sciences Centre and Ryerson University, was included in a new Canadian-led study on the merits of crowdfunding to support cancer and rare diseases.

“Crowdfunding drug development: The state of play in oncology and rare diseases,” was published in Drug Discovery Today‘s June issue.

MaRS Innovation has confirmed with lead author Professor Nick Dragojlovic of the University of British Columbia that WaveCheck was among the campaigns included in the study.

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Flybits selected as a Red Herring Top 100 North America Winner

Flybits Corporate LogoTORONTO, Canada (May 20, 2014) — Red Herring has selected Flybits as one of its 2014 Top 100 North America award winners. Flybits was recognized for its leading-edge, context-aware computing solutions.

Red Herring Top 100 America recognizes innovation from outstanding entrepreneurs and promising companies. Its “Top 100 North America” award winners were selected from among approximately 3,000 tech start-ups financed each year in the U.S. and Canada.  Past winners include companies such as Facebook, Twitter, Google, Yahoo, Skype, Salesforce.com, YouTube, Marin Software, Palo Alto Networks and eBay, and many others that have changed how we live and work.

“In 2014, selecting the top 100 achievers was by no means a small feat,” said Alex Vieux, publisher and CEO of Red Herring. “We believe Flybits embodies the vision, drive and innovation that define a successful entrepreneurial venture. Flybits should be proud of its accomplishment, as the competition was very strong.”

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WaveCheck breast cancer technology receives $100,000

OICR’s catalyst grant enables WaveCheck to open first partner site at MD Anderson Cancer Center in May

WavecheckTORONTO, April 8, 2014 — People with breast cancer are a step closer to knowing if their tumour is responding to chemotherapy at the start of treatment, thanks to a $100,000 catalyst grant from the Ontario Institute for Cancer Research (OICR).

The funding builds upon MaRS Innovation‘s Indiegogo crowdfunding campaign for WaveCheck, which successfully raised over $50,000 from over 500 supporters worldwide in two months last fall.

Read Jane Gerster’s article for the Toronto Star about OICR’s catalyst grant for WaveCheck. This announcement was also covered in Metro, BetaKit and Council of Academic Hospitals of Ontario’s Catalyst newsletter.

WaveCheck, a clinical technique invented, refined and tested by scientists at Sunnybrook Health Sciences Centre and Ryerson University over 20 years, aims to show whether chemotherapy is actually destroying a breast cancer tumour at the beginning of chemotherapy treatment (in as little as four weeks), rather than at the end of treatment (typically four to six months).

In early clinical testing, WaveCheck’s inexpensive, non-invasive, image-guided technology (shown here) shows promise as an accurate, efficient way to monitor tumour response. Sunnybrook has partnered with GE Healthcare to co-develop WaveCheck as a clinical tool.
In early clinical testing, WaveCheck’s inexpensive, non-invasive, image-guided technology (shown here) shows promise as an accurate, efficient way to monitor tumour response. As of March 2015, Sunnybrook has partnered with GE Healthcare to co-develop WaveCheck as a clinical tool.

In early clinical testing, the non-invasive, image-guided technology has shown promise as an accurate, efficient way to monitor tumour response, opening the door to tailored treatment.

“This is a significant step towards achieving the goal of personalized medicine. The clinical trials will confirm that information provided by WaveCheck can determine if the treatment is the appropriate one or that other options should be chosen, sparing patients the side effects of treatments that will not likely be successful,” said Dr. Tom Hudson, OICR’s president and scientific director. “If successful, WaveCheck could become a standard tool in the cancer treatment of the future.”

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Huffington Post : MaRS Innovation among driving forces in Canada’s start-up landscape

Toronto at night
Toronto’s skyline at night.

In “Big-Brain Hunting: The Key to Supercluster Success,” the Huffington Post‘s Pat Lynch investigates how and what makes start-ups successful. Attracting top-talent is listed as a major reason, but so is the environment required to give start-ups the tools they need to flourish.

Lynch highlights MaRS Innovation as a driving force in sustaining the innovation industry in Canada by attracting big ideas and global talent, using former MI project manager Lyssa Neel as an example.

Neel helped launch the education sector start-up Crowdmark, and is now the company’s chief operating officer. Crowdmark is a graduate of University of Toronto Early-Stage Technology (UTEST) program; UTEST is now accepting applications for their third cohort until April 11, 2014.

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WaveCheck co-directers talk crowdfunding commercialization research on CBC’s “The World This Weekend”

waveMaRS Innovation staff and WaveCheck Campaign Co-directors Dr. Fazila Seker and Elizabeth Monier-Williams spoke with the CBC’s Colleen Ross about the process of crowdfunding WaveCheck’s partner-based clinical studies on “The World This Weekend.”

The radio segment, called “Crowdfunding Science,” aired on January 25, 2014 and discussed the lack of funding researchers have access to for commercialization, making it harder to advance research that could be helping people in a variety of industries.

To listen to the full interview, click here.

WaveCheck’s crowdfunding campaign is an example of how MaRS Innovation gets creative when traditional funding channels take too long or run dry, speeding up the commercialization process.

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Lang & O’Leary Exchange features Granata Decision Systems

UTEST company makes cameo through launch of OneEleven, Toronto’s new data-driven accelerator for entrepreneurs

Granata Decision System logo Nov 2013CBC’s Lang & O’Leary Exchange featured Granata Decision Systems, one of the first UTEST companies incubated through that program for early-stage technologies by MaRS Innovation and the University of Toronto, in their program on Wednesday, November 28, 2013.

Granata founders Tyler Lu (left) and Craig Boutilier on the Lang & O'Leary Exchange
Granata founders Tyler Lu (left) and Craig Boutilier made a cameo on CBC’s Lang & O’Leary Exchange November 28, 2013.

The data-driven company is one of eight to join the inaugural cohort for OneEleven, a new accelerator funded by OMERS Ventures, the Ontario Centres of Excellence, Ryerson University and other industry partners to support mature, sophisticated entrepreneurs tackling big data problems.

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WaveCheck crowdfunding campaign honours contriburing artists, sponsors and inventors

Reception at Sunnybrook Hospital recognizes WaveCheck’s inventors, contributing artists and the three women featured in the campaign video

The WaveCheck Indiegogo campaign continues to generate wide support from MaRS Innovation’s community. To give back and show their appreciation, the campaign team hosted a reception at Sunnybrook Health Sciences Centre in the Louise Temerty Breast Cancer Centre on November 6, 2013.

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From left, WaveCheck campaign co-director Elizabeth Monier-Williams contributing artist Janet F. Potter, WaveCheck supporter Carmen Tellez O’Mahony, contributing artist Deniz Ergun Seker, WAAC President Dale Butterill and contributing artist Lila Miller.
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WaveCheck’s appreciation event was held at The Louise Temerty Breast Cancer Centre, Sunnybrook Health Sciences Centre.

Present were several members of the Women’s Art Association of Canada (WAAC) who donated 11 of the 15 artworks to the campaign. Also present was Dale Butterill, president of WAAC, who expressed support during her opening remarks. Together with members of WAAC, contributing artists donated over $15,000 worth of art to the campaign.

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WaveCheck raises over $41,000 for breast cancer treatment monitoring in three weeks

waveOver 340 people worldwide have joined WaveCheck‘s Indiegogo crowdfunding campaign to fund a breakthrough clinical technique for breast cancer that promises to revolutionize the way chemotherapy is monitored.

“Breast Cancer Awareness Month’s positivity makes it easy to overlook the fact that 60 to 70 per cent of chemotherapy treatments fail,” says Dr. Gregory Czarnota, chief of Radiation Oncology at Sunnybrook Health Sciences Centre and co-inventor of WaveCheck with Professor Michael C. Kolios of Ryerson University. “WaveCheck’s technology can tell people with breast cancer and their doctors if a particular chemotherapy is working in as little as four weeks.”

WaveCheck’s campaign made the Top 10 list for the most financially successful Canadian crowdfunding campaigns on both Kickstarter and Indiegogo in Globe and Mail’s Report on Small Business. CTV News Channel, CBC Toronto News (see the above clip), CBC Radio Canada and Canadian Healthcare Technology have also covered the project, along with Oshawa Today (radio), The Ryersonian and The Eyeopener.

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