# FedDev

> FedDev is a VC fund in Waterloo backing Software, Manufacturing and Information Technology. See 184 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Location: Waterloo, Canada
- Total investments: 184
- Last investment: Jul 2026
- Lead investor: 94%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/federal-economic-development-agency-for-southern-ontario/
- X (Twitter): https://twitter.com/FedDevOntario?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
- Website: http://www.feddevontario.gc.ca

FedDev is a VC fund in Waterloo focused on Software and Manufacturing. FedDev Ontario aids the southern Ontario economy by supporting innovation, commercialization, business growth, productivity, and communities.

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $24k–$40k |
| Grant | $76k–$5M |
| Debt Financing | $731k–$3.5M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Software | 34 | 18% |
| Manufacturing | 32 | 17% |
| Information Technology | 21 | 11% |
| SaaS | 16 | 9% |
| Health Care | 16 | 9% |

215 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Grant | 129 | 70% |
| Debt Financing | 33 | 18% |
| Seed | 3 | 2% |
| Pre-Seed | 2 | 1% |
| Series A | 2 | 1% |

10 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Canada | 165 | 90% |
| United States | 6 | 3% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Modern Elevator | Modern Elevator designs and supplies contemporary elevator systems for a range of building types. The company engineers and manufactures machine roomless and hydraulic elevators, along with elevator cabs, entrances, components, and architectural metals. It installs new vertical transportation systems and provides complete modernization services forexisting equipment. Modern Elevator also offers ongoing maintenance and repair services to support long-term system performance. Its projects include elevators for residential, commercial, institutional, and transportation facilities. The company focuses on providing integrated elevator products and services from design through fabrication and field installation. | $708.8K | Grant | Jul 27, 2026 |  |
| SpatialData.AI. | When they started SpatialData.AI, they saw a critical problem in the industry: data collection companies usually focus solely on collecting and delivering raw data, leaving engineering firms, telecom, and electric utility companies with datasets that are not immediately or easily usable. | $1.1M | Grant | Jul 27, 2026 |  |
| Pv Labs | PV Labs is an established designer and developer of aerial imaging systems used for Intelligence, Surveillance, & Reconnaissance (ISR) applications within various levels of governments and military. | $3.5M | Debt Financing | Jul 27, 2026 |  |
| Canadian Space Mining Corporation | Canadian Space Mining Corporation creating the infrastructure to support life in space. From advanced machinery to off-planet oxygen generation and AI, provides critical resources to facilitate the next generation of space exploration. | $3.2M | Grant | Jul 23, 2026 |  |
| Tulong Tech | Tulong Tech is focused on industries where cultural intelligence has the highest impact on human outcomes and business success. Rather than spreading their expertise thin across all sectors, company identified five priority industries where systematic cultural intelligence creates transformational value for both organizations and the communitiesthey serve. | $393.1K | Grant | Jun 25, 2026 |  |
| Toronto Metropolitan University | Toronto Metropolitan University is at the intersection of mind and action. | $429.8K | Grant | Jun 15, 2026 |  |
| ProteinQure | ProteinQure is a Toronto-based startup building a computational platform for design of protein therapeutics. Our mission is to help to create a world where drugs are engineered, not discovered. We work on treatments for cancer, diabetes, asthma, and cardiovascular diseases, among others, and partner with industry leaders in drug discovery togenerate novel therapeutics outside of the conventional chemical space. | $1.8M | Grant | May 27, 2026 |  |
| Wolf Advanced Technology | WOLF designs, develops, and manufactures ruggedized boards for video capture, process, encoding, and display. WOLF’s solutions can operate in harsh environmental conditions without sacrificing the high-speed processing power available from advanced NVIDIA and AMD GPUs. WOLF’s products include COTS, MCOTS, or full custom designs, using VPX, XMC, andPMC architectures. | $5.9M | Debt Financing | Feb 27, 2026 |  |
| KCC | KCC is an automotive parts manufacturing company that provides plastic injection moulding and assembly services to the automotive industry. | $6.8M | Grant | Feb 09, 2026 |  |
| Canadian Electrical Services | Canadian Electrical Services manufactures and supplies custom and standard transformers and offers repair and refurbishing services. | $2.7M | Grant | Jan 13, 2026 |  |

10 of 184 investments shown.

## Co-investors
- [Capital Angel Network](https://shizune.co/investors/profile/capital-angel-network) — VC Fund, 3 deals together
- [Accelerator Centre](https://shizune.co/investors/profile/accelerator-centre) — VC Fund, 1 deal together
- [Active Impact Investments](https://shizune.co/investors/profile/active-impact-investments) — VC Fund, 1 deal together
- [Bioindustrial Innovation Canada](https://shizune.co/investors/profile/bioindustrial-innovation-canada) — VC Fund, 1 deal together
- [CCRM](https://shizune.co/investors/profile/centre-for-commercialization-of-regenerative-medicine) — VC Fund, 1 deal together
- [Cogito Capital](https://shizune.co/investors/profile/cogito-capital-c690) — VC Fund, 1 deal together

## Similar investors

### Similar industry
- [SVG Ventures](https://shizune.co/investors/profile/svg-ventures) — VC Fund
- [SOSV](https://shizune.co/investors/profile/sosv) — VC Fund
- [Omnivore](https://shizune.co/investors/profile/omnivore-partners) — VC Fund

### Similar stage
- [Scottish Enterprise](https://shizune.co/investors/profile/scottish-enterprise) — VC Fund
- [Foundation for Innovation and Technology (FIT)](https://shizune.co/investors/profile/foundation-pour-l-innovation-technologique) — VC Fund
- [Business Finland](https://shizune.co/investors/profile/tekes) — VC Fund

### Similar country
- [BDC Venture Capital](https://shizune.co/investors/profile/bdc-venture-capital) — VC Fund
- [Real Ventures](https://shizune.co/investors/profile/real-ventures) — VC Fund
- [Anges Quebec](https://shizune.co/investors/profile/anges-quebec) — VC Fund

## Featured in investor lists
- [All Investors in Canada](https://shizune.co/investors/investors-canada)
- [All VC Funds in Canada](https://shizune.co/investors/vc-funds-canada)
- [Enterprise Investors in Canada](https://shizune.co/investors/enterprise-investors-canada)
- [Enterprise VC Funds in Canada](https://shizune.co/investors/enterprise-vc-funds-canada)
- [SaaS Investors in Canada](https://shizune.co/investors/saas-investors-canada)
- [SaaS VC Funds in Canada](https://shizune.co/investors/saas-vc-funds-canada)

## FAQ

### What does FedDev invest in?

FedDev invests primarily in Software, Manufacturing and Information Technology startups, most often at Grant and Debt Financing stage. Most of the 184 investments tracked by Shizune back companies in Canada. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is FedDev's check size?

FedDev typically joins rounds of $24k–$40k at Seed, $76k–$5M at Grant and $731k–$3.5M at Debt Financing. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds FedDev participates in.

### When did FedDev last invest?

The most recent investment recorded for FedDev closed in Jul 2026. Shizune tracks 184 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

# About Shizune
Shizune.co is an investor database. Core features:
- 48,091 startup investors (angels, VCs, accelerators, and others)
- Email, phone, LinkedIn (for intros), socials, and other contact data
- Updated daily from public funding news
- CSV and Excel export

The User can access the full database FOR FREE after signing up: shizune.co