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VFPC Fall 2020: investment announcement

With the closing of another investment round, we are excited to announce the 4 new companies joining the Velocity Fund and Velocity Health Tech Fund portfolios. Here is what you need to know:

PiAndPower: $100K investment

As of now, molecular diagnostics is complex, invasive, and expensive. However, what if it did not need to be any of those things? What if we could read genetic sequences directly through “molecular radar”? Well, that is exactly what PiAndPower is working on, and they have already shown it is possible to identify viral structures through their waveform characteristics. Their work represents a step-change in human health diagnostics. 

Check out their pitch below:

Ribbit: $50K investment

Ribbit is addressing one of the biggest challenges facing northern communities: food scarcity. By retrofitting small planes with off-the-shelf hardware and their software, Ribbit is building a completely vertical supply chain competitor that will enable more frequent flights to areas that are underserved. The founders have purchased a small plane, tested their solution in-air with the approval of Transport Canada, and secured $41M in LOIs with some of the largest distributors in Northern Canada. 

Check out their pitch below:

Level: $50K investment

Level helps contractors address their biggest pain point: estimates. As of now, contractors lose ~14 hours/week due to poor project planning, and this results in a loss of $75B annually. With Level, contractors are able to more accurately price and plan all of their jobs, and their unique approach to distribution already has them earning >$100K ARR. In fact, the pain of inaccurate estimates is so acute that Level’s first customer is actually paying all of their contractors a weekly bonus to use Level. As Leeroy, Level’s co-founder, says, “those are some seriously accurate estimates.”

Check out their pitch below:

Phoenix: $100K investment

About 7.6M men suffer from sexual health issues in Canada, and ~75% of them are unlikely to seek medical attention due to issues around avoidance, embarrassment, and convenience. Phoenix helps these men get the treatment they need by providing a PHIPA-compliant, asynchronous (off-camera) telehealth platform. Obviously, many competitors exist in the space, but Phoenix has one key advantage. Co-founder Kevin also started a company named MediStream, which broadcasts content into doctor’s offices around Ontario. 

Check out their pitch below: