A company that's working on a revolutionary solution for patients suffering from major eye diseases took home the top prize in the Edmonton third of Startup TNT's Investment Summit IV.
PulseMedica, a University of Alberta spinoff company, is developing a fully automated diagnostic platform that will treat conditions like age-related macular degeneration (AMD) with lasers instead of injections.
"The due diligence was so deep and the questions were so awesome," CEO and co-founder Nir Katchinskiy told the crowd at Polar Park Brewing Company, where Edmonton's in-person summit was hosted on Nov. 18. "I came here today thinking whoever wins really deserves it, which is the best feeling in the world."
PulseMedica is aiming to raise a seed round this year, which would allow it to start manufacturing its technology by 2023. The health innovation company secured at least $400,000 in investment at the summit, which it largely plans to use to run its first laser treatment trial on 10 to 15 patients in Edmonton.
"We're a medical device company, and that means it's a bit of a longer process to get to the end result," Katchinskiy told Taproot. "Seeing that people believe in us and are willing to take those chances, it's just incredible because not everyone is willing to put their money in and wait for a few years."
WaitWell, which offers line management software, was selected as the winner for the Calgary side, and same-day delivery service provider StoreToDoor won in Saskatchewan.
The other Edmonton finalists included Dryrun, Flawless Inbound, Fly and Fetch, and Rogue 7.
Over a million dollars (in pending deals) was invested at the summit, with Dryrun as well as Fly and Fetch striking additional deals. Saskatchewan's Immigrate, Nanogram Pharmaceuticals, and Omnee also secured funds from investors, while Rallie was successful in Calgary.
"Our cities benefit from economic investment, entrepreneur-led problem-solving, and the grassroots collaboration that it takes to create startup- and scaleup-friendly environments," said Ward Karhiio councillor Keren Tang, who announced PulseMedica's win. Tang is a four-time investor in Startup TNT's summits.
Investment Summit IV brought together more than 80 angel investors to invest in at least three Prairie startups. Fifteen companies from Edmonton, Calgary, and Saskatchewan were selected from 20 in each city after virtual pitch nights in October.
The hybrid in-person and online event also offered live interview sessions, a venture capital pitch night, and after-parties in four cities.