September 26, 2023 – TORONTO, Canada
GreenSky Ventures is pleased to announce that GreenSky Accelerator Fund V has recently made two investments.
GreenSky Ventures has led the initial close of a $3.25M seed round of equity financing in Mission Control. Mission Control has now raised over $10.5M in equity and non-dilutive funding.
With this funding, Mission Control will further advance its Spacefarer platform, which streamlines operations of space-based robotics and advanced payloads and will further entrench its leadership position in deploying deep-learning Artificial Intelligence (AI) on the edge, in space.
“As multiple international space races are heating up this financing comes at a perfect time to help us build on several world and Canadian firsts” said Mission Control Founder & CEO Ewan Reid.
“GreenSky is very pleased to be able to lead Mission Control’s seed round financing. As a new era of space exploration begins, Mission Control has already carved out a position as an industry leader in space software, and GreenSky is very excited to be able to help catalyze this Canadian success story” said Mike List, Managing Partner of GreenSky.
“Mission Control is the only Canadian-owned company to have contributed technology to a lunar rover mission” added Dr. Michele Faragalli, Mission Control’s Chief Technology Officer, “And we are perfectly positioned to contribute to the next wave of space robotics.”
“We’re very pleased to have GreenSky as part of the team,” said Reid. “Their experience with helping Deep Tech companies scale will be invaluable for our executive team as we execute our growth plan.”
Mission Control has previously worked on Canadian Space Agency, Department of National Defence and NASA programs and graduated from the University of Toronto Creative Destruction Lab’s inaugural Space Stream. Robotics and AI will be key enablers of new space activities which are set to expand exponentially over the coming years and Mission Control’s software platforms will contribute to numerous missions for years to come.
GreenSky Ventures has led a $2.1M seed round of equity financing in Captain AI. This $2.1 million investment will enable Captain AI to further streamline in-house delivery operations for restaurants through its innovative software solutions. Other investors in this round include Techstars which has also provided Captain with strategic support around their growth plans.
With an increasing number of restaurants turning to in-house deliveries, the demand for efficient and cost-effective delivery management tools has been on the rise. Captain AI’s software suite caters to all stakeholders in the restaurant operations ecosystem: including chefs, dispatchers, drivers, customers, and executives. The suite comprises a Kitchen Display System that prioritizes orders based on driver locations, a Dispatch App with AI capabilities to streamline order assignment, and a Manager App that provides vital insights to decision-makers. Currently, Captain AI processes over half a million deliveries per month globally, showcasing the effectiveness of its software system.
“Our continued aim is to put more power in the hands of restaurants, and this funding will help us achieve that,” said Ryan Perera, CEO of Captain AI.
As a market leader in Canada, Captain AI serves renowned brands such as Pizza Pizza, the country’s largest delivery chain. Additionally, Captain AI has formed strategic partnerships with industry-leading Point of Sale (POS) providers such as Revel Systems and SpotOn, expanding the availability of its software to a wider pool of restaurant owners.
This recent funding will accelerate the growth of Captain AI’s product offerings, facilitate the establishment of a dedicated growth team, and enable the company to meet the growing market demand.
“With this funding, our goal is to establish Captain AI as an industry leader and demonstrate the return on investment our technology can bring to restaurants,” added Ryan Perera. “We are excited to collaborate with GreenSky Ventures as we embark on the next phase of our mission to help restaurants thrive in the new era of in-house and hybrid delivery.”
Captain AI is a Canadian-based SaaS company specializing in delivery logistics software for restaurants. Its comprehensive suite of software products empowers restaurants to manage their in-house deliveries efficiently, enhance customer experience, and optimize operations.
Mission Control empowers explorers by innovating to make advanced software viable for use in space. Using Mission Control’s Spacefarer platform, customers can simplify mission development and operations while unlocking the potential of new scientific and commercial opportunities on the Earth, Moon, Mars, and beyond. Spacefarer is used by mission controllers, scientists, and software developers who seek faster deployments, lower-cost mission development, and valuable data returns. Mission Control is inspired by a vision of the world in which access to space is ubiquitous and inspires all humans to treasure planet Earth and marvel at the universe.
About GreenSky Ventures:
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 Funds I – V. GreenSky principals bring a combination of experience in technology, entrepreneurship, law and finance to high-growth potential companies and dedicated entrepreneurs. Learn more about GreenSky at greensky.vc.
