Nicoya has announced that it has raised $10 million in Series A financing. The funding was led by Whitecap Venture Partners and included participation from the existing investors Laurier Startup Fund, University of Waterloo Student Venture Fund, MaRS IAF, and Garage Capital.
The funding raised will allow Nicoya to move forward with the development of their drug discovery product line. Nicoya uses nanotechnology, microfluidics, and AI to develop products that enable scientists to better understand diseases and treat them.
Russell Samuels, of Whitecap Venture Partners, said: “The team at Nicoya are creating disruptive, world-class technology that is aiding in the development of life-saving drugs that have the potential to change the way people live”. He continued, “Nicoya has established itself at the center of disease research and drug discovery for scientists around the world. We are proud to add this innovative Canadian MedTech company to our investment portfolio and look forward to supporting their team.”