HSBC, CDPQ, BDC Capital, and EDC help fuel VOSKER’s fast growing remote area monitoring platform.
VICTORIAVILLE, QC, Dec. 16, 2021 /CNW Telbec/ – VOSKER, a global pioneer in remote area monitoring technology, today announced it has raised $100 million in debt financing from HSBC Canada (“HSBC”), Caisse de dépôt et placement du Québec (“CDPQ”), Business Development Bank of Canada (“BDC Capital”), and Export Development Canada (“EDC”). These funds will help support the company’s growth as a leader in this fast-growing tech space.
The funds consist of a mix of quasi-equity, subordinated debt, and revolving credit which will be used mostly towards accelerating growth through sales and marketing, new product development and investment in human capital.
VOSKER designs and commercializes cellular-connected devices that enable remote monitoring of areas where wi-fi and electricity are either not accessible or optimal. Billions of media files are produced each year with its various brands of devices, mainly geared towards security or the outdoor markets, and then seamlessly delivered to its customers’ computers and mobile phones. In addition, VOSKER offers premium memberships enabling customers to enhance their monitoring activities.
“Our products enable consumers to keep an eye on things that matter to them, no matter where they are,” said Yan Gagnon, CEO of VOSKER. “This new funding will allow us to continue on the rapid growth trajectory we’re on. We’ll double down on our existing strategy that is showing great traction while also investing to accelerate new market development.”
“HSBC is proud to support the international ambitions of high-growth Quebec companies like VOSKER,” said Alan Turner, Head of Commercial Banking at HSBC Bank Canada. “Our 1000 commercial banking professionals across the country are dedicated to the unique needs of international businesses, by providing access to a geographic network covering more than 90% of global trade and capital flows.”
“With this financing, CDPQ is supporting the expansion of a young Québec technology company that ranks alongside some of the fastest growing companies in Canada in recent years. The company is well positioned to maintain this growth and this investment provides the necessary flexibility to develop its products and expand the scope of its innovations,” said Kim Thomassin, Executive Vice-President and Head of Investments in Québec and Stewardship of CDPQ. This transaction is part of Ambition ME, a suite of financing solutions and support services to take Québec mid-market companies to their next stage of growth.
”With its disruptive technology and strong leadership team, VOSKER has become an important player in the Internet of Things (IoT) sector and a global leader when it comes to remote area monitoring solutions,” said Patrick Latour, Senior Vice-President, Growth and Transition Capital, BDC Capital. ”This financing will help further accelerate the company’s sustained growth.”
“This is a great example of the collaborative efforts between EDC and industry partners to support Canadian companies with high growth potential,” said Lissa Bjerkelund, Vice-President, Investments & IFD (interim) at EDC. “We are pleased to partner with VOSKER as it expands its business internationally.”
VOSKER, we’re proud to be one of the premier providers of solar-powered and cellular-enabled monitoring technology on the planet. Whether you want to keep a close eye on your lake house, or your company wants to secure its sites, we provide the tools to make you see further. People use VOSKER’s technology every day to take millions of photos and videos of remote places in over 50 countries.
Founded in 2018, in Victoriaville, Quebec, our main products and services are marketed under the SPYPOINT and VOSKER brands. We are able to push the boundaries of what is possible thanks to our 400 talented employees.
About HSBC Bank Canada
HSBC Bank Canada, a subsidiary of HSBC Holdings plc, is the leading international bank in the country. We help companies and individuals across Canada to do business and manage their finances internationally through three business lines: Commercial Banking, Global Banking and Markets, and Wealth and Personal Banking. HSBC Holdings plc is headquartered in London, UK, and serves customers worldwide from offices in 64 countries and territories in Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets US$2,969bn at 30 September 2021, HSBC is one of the world’s largest banking and financial services organizations. For more information, visit www.hsbc.ca or follow us on Twitter: @hsbc_ca or Facebook: @HSBCCanada
At Caisse de dépôt et placement du Québec (CDPQ), we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public retirement and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at June 30, 2021, CDPQ’s net assets totalled CAD 390 billion. For more information, visit cdpq.com, follow us on Twitter or consult our Facebook or LinkedIn pages.
About BDC Capital
BDC Capital is the investment arm of BDC, the bank for Canadian entrepreneurs. With over $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. Visit bdc.ca/capital.
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian companies of all sizes succeed on the world stage. As international risk experts, we equip Canadian companies with the tools they need – the trade knowledge, financing solutions, equity, insurance, and connections – to grow their business with confidence. Underlying all our support is a commitment to sustainable and responsible business. To help Canadian businesses facing extreme financial challenges brought on by the global response to COVID-19, the Government of Canada has expanded EDC’s domestic capabilities until December 31, 2021. This broader mandate will enable EDC to expand its support to companies focused domestically. For more information and to learn how we can help your company, call us at 1-800-229-0575 or visit www.edc.ca.
SOURCE Vosker Canada
For further information: VOSKER, Jean-François Boyer, firstname.lastname@example.org; HSBC Bank Canada, Pascal Dessureault, Pascal.email@example.com, 1-416-673-6997; CDPQ, MEDIA CONTACT, +1 514 847-5493, firstname.lastname@example.org; BDC Capital, Media Relations, email@example.com, 1-844-625-8321; EDC, Media Contact, Export Development Canada, 1-888-222-4065, firstname.lastname@example.org