AQC Capital

AQC Capital is a venture capital investment firm based in Montréal, Canada, founded in 2012. The firm is dedicated to supporting entrepreneurs who are developing technology companies at the pre-seed and seed stages, with a particular focus on startups based in Quebec. AQC Capital aims to enhance the economic landscape of the region by providing financial backing to innovative seed and startup companies. Sponsored primarily by Investissement Québec, the firm collaborates with Anges Québec members to create a robust funding environment, making over $30 million available to entrepreneurs. This initiative significantly increases the financial leverage available to businesses, facilitating their growth and development within the local economy.

Kalthoum Bouacida

Vice President Investments

Louis Saint-Jacques

Partner / Associate

Past deals in Quebec

Merinio

Seed Round in 2023
Merinio Inc. is a Montreal-based company founded in 2016 that specializes in cloud-based workforce automation software. The software is designed to enhance operational efficiency in complex business environments by offering features such as labor forecasting, auto shift fulfillment, on-demand schedule validation, and a compliance engine. It also includes tools for quick scheduling, template assistance, multichannel communication, employee portal access, and time and attendance tracking. By facilitating streamlined planning, scheduling, and management of workforce operations, Merinio aims to reduce costs and boost employee satisfaction. The software enables real-time communication of operational information, which can positively impact customer satisfaction and allows organizations to make immediate adjustments to optimize their human capital.

Puzzle Medical Devices

Seed Round in 2022
Puzzle Medical Devices Inc., founded in 2018 and based in Montreal, Canada, focuses on developing innovative heart pump technologies for treating advanced heart failure. The company's flagship product, the ModulHeart, is a modular percutaneous heart pump designed to reduce cardiac afterload and enhance renal perfusion in patients who are not candidates for heart transplant or surgical mechanical circulatory support. Its unique design allows for multiple pumps to be anchored in parallel within the descending aorta, facilitating hemodynamic support while minimizing risks associated with traditional procedures, such as bleeding and stroke. The ModulHeart aims to improve patient outcomes by providing sustained symptom relief, reducing hospital readmissions, and enhancing overall quality of life. Puzzle Medical has made significant progress, including completing its first-in-human study with positive results in cardiac and kidney function, receiving FDA Breakthrough Device Designation, and establishing a strong network of Key Opinion Leaders in the field.

My Intelligent Machines

Seed Round in 2021
My Intelligent Machines (MIMs) is a Montreal-based company specializing in artificial intelligence and systems biology. It offers biopharmaceutical companies interactive augmented intelligence systems that facilitate accurate biological simulations during the early stages of drug development. These systems assist life scientists in creating precisely targeted and personalized therapies. MIMs also develops software designed for efficient and personalized medicine and agricultural systems, packaged as a software-as-a-service solution. Its offerings support patient stratification and the selection of therapeutic targets and biomarkers, which are essential for advancing personalized therapies. The company emphasizes open and explainable AI and data integration, enabling life-science organizations to leverage their big data and artificial intelligence capabilities to enhance food and drug production.

Inversago Pharma

Series B in 2020
Inversago Pharma Inc. is a preclinical-stage biotechnology company based in Montreal, Canada, focused on developing innovative therapies targeting metabolic and fibrotic disorders. The company specializes in peripherally-restricted CB1 receptor inverse agonists, which aim to offer new treatment options for conditions such as Prader-Willi syndrome, diabetes, and related metabolic disorders. Inversago Pharma's research includes addressing complications associated with diabetic kidney disease, non-alcoholic steatohepatitis, and various fibrotic diseases, including interstitial lung disease. Founded in 2015, the company is dedicated to enhancing patient outcomes through its pioneering approach to CB1 blockade.

My Intelligent Machines

Seed Round in 2019
My Intelligent Machines (MIMs) is a Montreal-based company specializing in artificial intelligence and systems biology. It offers biopharmaceutical companies interactive augmented intelligence systems that facilitate accurate biological simulations during the early stages of drug development. These systems assist life scientists in creating precisely targeted and personalized therapies. MIMs also develops software designed for efficient and personalized medicine and agricultural systems, packaged as a software-as-a-service solution. Its offerings support patient stratification and the selection of therapeutic targets and biomarkers, which are essential for advancing personalized therapies. The company emphasizes open and explainable AI and data integration, enabling life-science organizations to leverage their big data and artificial intelligence capabilities to enhance food and drug production.

Thorasys

Venture Round in 2019
Thorasys Thoracic Medical Systems Inc. is a Montreal-based company specializing in respiratory medical devices. The company focuses on developing innovative pulmonary diagnostic technologies aimed at diagnosing and monitoring lung diseases, including asthma and chronic obstructive pulmonary disease. Utilizing a forced oscillation technique, Thorasys provides equipment that enables healthcare professionals to measure lung capacity across diverse patient populations. This technology facilitates early detection of lung diseases, enhancing the ability to monitor respiratory health effectively.

Saccade Analytics

Venture Round in 2019
Saccade Analytics Inc., founded in 2016 by Dr. Mimi Galiana, is a Montreal-based company that develops clinical tools for analyzing eye and head movement data to assess brain function. The company's flagship product, InSight, is designed to assist clinicians and therapists in diagnosing and monitoring conditions such as concussions, vestibular disorders, and other neurological issues. Dr. Galiana's extensive 30-year research background at McGill University in eye and head movement analysis laid the foundation for the company's innovative approach. Saccade Analytics aims to enhance the standard of neurological care by translating advanced research into practical, accessible tools for healthcare professionals.

LynX Inspection

Seed Round in 2018
LynX Inspection Inc. is a manufacturer of advanced inspection equipment that specializes in three-dimensional analysis and X-ray imaging to assess the internal and external structures of precision parts. Utilizing its patented technology, Predictive 3D Radiography, the company offers innovative solutions for detecting defects in complex components. Founded in 2016 and headquartered in Québec, Canada, LynX Inspection primarily serves the industrial inspection market, focusing on sectors with stringent quality requirements such as aerospace, defense, and automotive. The company's technology includes features like an X-ray simulator, auto image alignment, and the ability to capture multiple view angles, enabling efficient inspection of manufactured parts through detailed radiographic imaging.

Laurent Pharmaceuticals

Venture Round in 2018
Laurent Pharmaceuticals Inc. is a private biopharmaceutical company based in Montreal, Canada, focused on developing orally-active drug candidates aimed at modulating the immuno-inflammatory response in cystic fibrosis patients. The company's lead product, LAU-7b, is a novel once-a-day oral formulation of fenretinide, designed to address the compromised immune-inflammatory response associated with cystic fibrosis, a condition that can lead to significant pulmonary insufficiency. Founded in 2012, Laurent Pharmaceuticals is in the clinical stage of drug development, working to provide innovative treatment options for this complex disease.

Inversago Pharma

Series A in 2018
Inversago Pharma Inc. is a preclinical-stage biotechnology company based in Montreal, Canada, focused on developing innovative therapies targeting metabolic and fibrotic disorders. The company specializes in peripherally-restricted CB1 receptor inverse agonists, which aim to offer new treatment options for conditions such as Prader-Willi syndrome, diabetes, and related metabolic disorders. Inversago Pharma's research includes addressing complications associated with diabetic kidney disease, non-alcoholic steatohepatitis, and various fibrotic diseases, including interstitial lung disease. Founded in 2015, the company is dedicated to enhancing patient outcomes through its pioneering approach to CB1 blockade.

Keatext

Seed Round in 2018
Keatext Inc. is a Montreal-based company that offers a cloud-based text analytics platform designed to enhance business performance by analyzing customer feedback from various sources. Established in 2010, Keatext utilizes artificial intelligence and natural language processing to synthesize large volumes of unstructured data, such as open-survey responses, online reviews, chat logs, and social media posts. The platform provides clients with actionable insights through a comprehensive dashboard, enabling them to understand customer sentiments and identify key areas for improvement. By delivering instant clarity on customer preferences and needs, Keatext empowers businesses to cultivate meaningful relationships with their customers and respond effectively to their feedback.

SpherePlay

Venture Round in 2017
SpherePlay creates, delivers, and monetizes VR experiences across all platforms. Its solution is a suite of VR media players that enables broadcasters, publishers and commercial content distributors to integrate virtual reality experiences to their existing media distribution workflow via their own apps and websites. The company was founded in 2014 and is headquartered in Montréal, Quebec.

Sportlogiq

Series A in 2017
Sportlogiq is a venture-backed startup that develops sports statistics solutions. Using feeds from current broadcast cameras, the company uses player tracking and activity recognition to analyze player movement and provide context to game analysis. Sportlogiq was founded in 2014 and is headquartered in Montreal, Canada.

Flyscan

Seed Round in 2016
Flyscan Systems Inc. is a Québec-based company established in 2015, specializing in the development of airborne technology for detecting oil leaks in pipelines. The company's innovative platform automates the identification of small oil leaks and offers various visual inspection functions tailored for the energy sector. By utilizing industrial optics and photonics systems mounted on airborne vehicles, Flyscan provides remote detection services that enable clients to monitor underground pipelines effectively. This technology helps clients promptly address any leakages, thereby mitigating potential environmental damages.

Minitrade

Seed Round in 2015
Minitrade.ca, a Montreal based online clothing consignment service, has announced a seed round of $630,000 from several investors. The startup offers busy parents the opportunity to purge their cluttered closets and purchase new and pre-loved top quality clothing brands at 70 percent off the retail price. In the last year it grew its customer base to 6,000 active Canadian members. With a professional background in fashion, Minitrade.ca founder Isabelle Doucet created the site in 2012 through her own need, recognizing of a gap in the marketplace through personal experience. “Prior to having children, I would have scoffed at the idea of purchasing previously worn items for my children,” said Doucet. “But once I experienced the frustration of investing in my children’s wardrobe and having expensive items outgrown while still in absolutely pristine condition, I knew there was a better way to dress my children…while having it make more sense financially.”

Handyem

Seed Round in 2014
Handyem Inc. specializes in designing and fabricating analytical instrument platforms tailored for life science researchers. Founded in 2010 and based in Québec, Canada, the company provides innovative portable flow cytometers, including the HPC-100 and HPC-150 models. These instruments facilitate various applications such as cell cycle and DNA analysis, green fluorescent protein transfection, apoptosis, and cell counting. Handyem also offers Cytodyem light software, which enables users to configure and save experiment parameters for the HPC-100, enhancing the efficiency of cytometry experiments through the use of forward and side scatter data.

Iloc Technologies

Seed Round in 2013
iLOC Technologies Inc. specializes in designing and developing personal life safety and security products, particularly focusing on individuals with special needs such as those with Autism Spectrum Disorder and Alzheimer’s disease. The company offers a range of innovative GPS tracking devices, including the TRiLOC GPS Locator, which helps locate individuals with cognitive impairments, and the BlueBeacon, which provides additional location data in areas with poor GPS signals. Other products include the Prime Mobile, an SOS emergency GPS device suitable for lone workers and vulnerable individuals, and the GPS-Smartsole, a tracking device embedded in footwear. Founded in 2011 and based in Montreal, Canada, iLOC Technologies aims to provide peace of mind for families and caregivers by ensuring the safety and security of their loved ones.

Fortem

Venture Round in 2012
Fortem Inc. specializes in developing advanced physical security information management technologies aimed at enhancing public safety and private security on a global scale. The company offers Omnipresence 3D, a sophisticated command and control software that serves as a unified monitoring and alarm platform for various security systems, including CCTV, fire alarms, and access control. This software features a unique 3D interface, which includes tools for 3D simulation and design, central command integration, and geospatial awareness, allowing for the effective management of security operations in environments such as military facilities, mass transit systems, airports, and large campuses. Founded in 2005 and based in Montreal, Canada, Fortem was previously known as Feeling Software Inc. and rebranded in March 2012.

Novidev Santé Active

Seed Round in 2012
Novidev Santé Active Inc. is a Montreal-based company that develops, produces, and markets organic fruit drinks, primarily under the brand name Anti+. The company's product line includes blueberry, cranberry, and pomegranate drinks, which are designed to be both nutritious and beneficial for health, featuring bioactive probiotics. Novidev Santé Active distributes its beverages through natural food stores and grocery stores across Canada. Established in 2010, the company is currently in liquidation.
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