Several local tech news stories are rounding out the week. Montreal’s annual Startupfest won’t happen this summer, but will return in 2022, Quebec City-based green technology company Viridis Terra is raising $3.25 million, while Intema is hiring its new CFO.
Startupfest returns to normal in 2022
Montreal’s annual summer tech bash, Startupfest, will not be running this summer. However, it will return to an in-person format in 2022, in a bit of welcomed news.
This summer would have marked Startupfest’s 11th edition, but the continued restrictions implemented by Quebec’s provincial government means that running the event would have been difficult for its organizers, like founder Phil Telio.
“As you know, we’ve been looking forward to reimagining Startupfest 2021 as our community re-opened, and to helping founders not only survive—but thrive—in this incredible upheaval. Over the past few months, we’ve explored many options and followed the science to host the kind of event we’ve all missed. We were hopeful, and even had dates booked in the Old Port (in July, August and September). But with the rise of the Delta and other Covid variants and continued restrictions of no more than 500 guests facing a stage and 50 people socializing in one area, we’ve concluded that it’s not feasible to produce a physical event that people would want to attend this summer,” said Telio.
Viridis Terra raises $3.25 million
Quebec City-based green technology company Viridis Terra is raising $3.2 million. The cash will be used to “further develop its integrated technology platform TreesOfLives, which supports its projects to restore degraded lands in order to combat the climate and ecological crises.”
Bruce McKean played lead investor with participation from Gestion ChaMarin, NEL-i and Sustainable Development Technology Canada (SDTC).
Viridis Terra will advance its TreesOfLives technology platform, used to “finance and optimize operations management, and facilitate the sale of sustainable, zero deforestation commodities from forest landscape restoration projects.”
“With TreesOfLives, we can turn a cost of restoration, reforestation, and carbon offsetting into an impact investment that generates sustainable returns at all levels —financial, social, environmental, and economic. The technology platform allows us to scale up activities, a key aspect in the development of the emerging industry of using nature-based solutions for tackling climate change and the degradation of nature,” said CEO Martin Beaudoin-Nadeau.
Founded in 2015, Viridis Terra says it has developed unique restoration approaches with high-performance biotechnology, enabling the rapid reforestation of new forests, agroforests, and natural ecosystems. It initially focused on restoring industrial sites, primarily in the mining sector.
The company expects to have restored up to 3,000 hectares under phase 1 of its operations in Peru, by the end of 2022.
Intema hires Scott Meyers as CFO
Intema, a Montreal-based Esports and iGaming company, is bringing on a new Chief Financial Officer in Scott Meyers. Meyers will replace Intema’s previous interim CFO, Anna Kastelorizios.
“We are very grateful to Anna for holding the fort down over the past year, and delighted that Scott has now agreed to join the Intema team,” said CEO Laurent Benezra. “Scott’s extensive accounting background with multinationals and small businesses, combined with his solid, reliable and modern approach to financial management, will facilitate the effective integration and optimization of revenue generation and the profitability of our recent esports and iGaming acquisitions within Intema’s evolving ecosystem.”
Prior to joining Intema, Meyers was Vice President of Finance of Complete Energy Solutions, a Toronto-based services company, overseeing all aspects of finance. Prior to that, he worked for companies of various sizes and sectors, including Schneider Electric for more than 13 years.
Intema says it “connects users to gaming platforms that bring action, thrilling outcomes and endless enjoyment. And we seamlessly connect partners to our robust communities by intelligently using data to ensure maximum engagement and reward for all.”