Toronto, ON – September 30, 2019
GreenSky Capital Inc. is pleased to announce that its affiliated venture fund, the GreenSky Accelerator Fund III, and MaRS Investment Accelerator Fund (IAF), have co-led a funding round in LabsCubed, an innovative Waterloo company focused on industrial automation. Additional funding was provided by angel investors, including members of Golden Triangle Angel Network.
LabsCubed seeks to revolutionize material creation by optimizing and automating the time-intensive testing process. Their CubeONE machines provide multi-sample polymer testing with real-time test results and cloud-based analytics. This helps remove human error and allows technicians to spend more time on higher value tasks.
LabsCubed has been recognized for its technology, receiving the top prize at the PLAST-EX and the Advanced Design & Manufacturing Expo in Toronto. They’ve also been recognized by Velocity, Next Canada, Accelerator Centre, Creative Destruction Lab, and Communitech.
Khaled Boqaileh, CEO of LabsCubed, stated, “We are excited to have both MaRS IAF and GreenSky as partners who believe in our vision. With their support, we will continue to increase our sales and marketing efforts in North America and build our production capabilities.”
Greg Stewart of GreenSky Capital added, “LabsCubed is an excellent fit for the GreenSky Funds. They bring a measurable B2B solution to an underserved space, attacking a problem they recognized from their own experience within that industry. Khaled and his co-founders Ammar and Jeffrey are some of the most impressive young entrepreneurs we have engaged with.”
At LabsCubed we automate polymer testing for manufacturers, R&D and quality labs. Through the integration of automated testing systems and intelligent software, we are able to provide our customers with more consistent and faster testing. You can learn more about LabsCubed at http://labscubed.com/.
About GreenSky Capital
GreenSky Capital Inc. is an award-winning Toronto-based firm that makes investments in early-stage Canadian technology companies through its affiliated venture capital funds, GreenSky Accelerator Fund I, II, and III. Our principals bring a unique combination of experience in technology, law, and finance to high-growth potential companies and dedicated entrepreneurs. Learn more about GreenSky at greenskycapital.com.
About MaRS IAF
MaRS Investment Accelerator Fund (IAF) is a leading seed-stage fund investing in high-potential IT, health and cleantech companies in Ontario. IAF has over a 10-year history of successfully providing innovative firms with the capital, mentorship, and networks needed to validate ideas and bring products to market. Its mission is to keep Ontario’s talent and technology local while helping its companies go global. For more information, please visit http://www.marsiaf.com/.