Cleantech startup Flyscan Systems secures $5.7 million CAD in venture funding

Funding Rounds

▤ Summary

The financing was raised by Enbridge, the Business Development Bank of Canada’s (BDC) Cleantech Practice, and Canada’s National Optics Institute, also based in Québec City. The funding will be used to commercialize Flyscan’s platform, which automates the detection of small leaks of hydrocarbons for oil and gas pipeline operators. “We are extremely fortunate to have a strategic investor that not only operates the longest and most complex crude oil and liquids pipeline system in the world but is also a known market leader for the adoption of new technologies,” said Eric Bergeron, founder and CEO of Flyscan. “Enbridge’s contribution to our development will go beyond financial support, to include defining the industry’s needs and providing a real-life business case demonstration.” Flyscan Systems was founded in 2015 as a spin-off from the National Optics Institute. The system provides geo-referenced information to clients that could indicate potential threats, such as vehicles or infrastructure warnings, landslide risks or soil movements due to erosion, or anomalies and changes in vegetation.

$ Funding

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Amount $4.3M Total raised
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Date August 11, 2020 Announcement date
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Investors Business Development Bank of Canada, Enbridge, Vanderlande Lead investors
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Company https://flyscan.com/ Funded company

▥ Classifications

industries
Transportation Industry
applications
Engineering & Scientific

◇ AskAI Classifications

Labels
Logistics software Automation software Baggage handling systems software

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