Companies Collectively Get $1 Million After Startup TNT Summit V

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The co-founders of the startup TNT are raising venture capital funds.

Weeks after Startup TNT held its fifth summit finale, the group revealed that over $1 million had been raised for participating startups.

In Edmonton, Calgary and Saskatchewan, 10 side deals were struck in addition to the three winners. The majority of angel investments went to Saskatchewan startups with $391,500; followed by Calgary startups receiving a collective of $342,000 and Edmonton startups receiving a collective of $313,000.

The companies that have secured the capital are:

  • 10Adventures, Calgary
  • Fidu, Saskatoon
  • Know-how, Calgary
  • Luxsonic, Saskatoon
  • MemoryKPR, Saskatoon
  • Scription, Edmonton
  • Spot Dog Walkers, Calgary
  • Supracut, Sask.
  • Annual Plans, Calgary
  • Zero Point Cryogenics, Edmonton

The TNT startup declined to detail how much each company got individually, but noted that five of the deals exceeded $100,000 each.

Summit V was held on June 23 and the three winners of the month-long long distance competition were Luxsonic in Saskatchewan, YR Plans in Calgary and Scription in Edmonton.

Luxsonic develops immersive, AR and VR technology for the healthcare sector. The startup provides VR video production services and works with healthcare clients to develop VR software tailored to their specific needs.

Yr Plans was founded in 2019 and gives users the option to redirect a portion of their employer’s contribution towards paying off their student loan rather than their retirement savings plan. In 2021, Yr Plans partnered with Sun Life Financial to give select Sun Life customers access to its employer-assisted student loan repayment platform.

RELATED: Prairie Startups Get Investments at Startup TNT Summit Showcase

Scription works with maintenance companies to offer customized warranties to equipment operators, based on the performance of each piece of equipment. The startup was founded in 2022 by co-founder Justin Larocque-Villiers.

This year marks the third anniversary of Startup TNT. The bi-annual summit that helps raise angel capital for startups complements weekly local meetups to connect entrepreneurs and investors.

As of 2021, the group had helped raise more than $5 million for 34 startups since its inception, according to its 2021 annual report. The group has an investor network of more than 200 people.

With that momentum under their belt, Startup TNT co-founders Zack Storms and Tim Lynn revealed earlier this year that they plan to raise a Startup TNT venture capital fund.

Named TNT Capital, Storms and Lynn are currently in the process of securing funding. The pair teased the fund on stage at Summit V, noting their hopes of securing $5 million in an effort to continue investing in Startup TNT companies in an institutionalized way.

Recently, Startup TNT also secured approximately $1.5 million in government funding to support its programming. This dollar figure includes $750,000 from Alberta Innovates, supported by the provincial government, and $780,000 from PrairiesCan, the federal government’s regional development agency (RDA).

In addition to its networking and summits, Startup TNT also organizes an investor education program and specialized summits for clean technologies and life sciences.

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