Telus’s strategic investment arm, Telus Global Ventures, announced last week investments in AI and emerging IoT vehicle technology company Raven Connected and online pet health services provider FirstVet.
Ottawa-based Raven Connected said it has closed a $10-million Series A financing round led by Telus Global Ventures, which “will accelerate Raven’s initiatives to enable AI for video telematics and smart city applications with even more advanced AI and Machine Vision functionality,” according to a press release.
“Raven will also introduce a comprehensive vehicle-to-everything (V2x) feature set that will position Raven as the aftermarket video telematics vehicle solution of choice,” the release said.
As part of its investment, Telus will continue as Raven’s preferred IoT connectivity provider in Canada, offering an exclusive network dedicated to enterprise IoT traffic. “Raven’s cameras will not compete with other network traffic sources like mobile devices used by Canadians, resulting in increased security and reliability and limiting capacity constraints and disruptions,” the release explained.
“TELUS is taking bold steps to improve the lives of Canadians by investing in technologies that connect and empower individuals, businesses, and municipalities to build stronger, safer, and more efficient road networks,” said Terry Doyle, managing partner of Telus Global Ventures, in the release. “With our investment and Raven’s technology, we can further advance our goal of enabling innovation and positive outcomes for Canadians — and other stakeholders around the world — by driving the next generation of V2x applications, reducing carbon emissions and making roads safer for vehicles, cyclists and pedestrians.”
Stockholm-based FirstVet announced it has closed a €20-million Series C funding round, led by Telus Global Ventures, which “will support FirstVet’s expansion, while accelerating product development to explore new types of partnerships,” a press release said.
FirstVet improves the efficiency of vet care by being the initial point of contact for pet owners, the release said. “With partnerships spanning over 60 major insurance companies globally, including Nationwide in the US, FirstVet offers it services at no additional cost to over 5 million insured pets. The platform currently supports 400 veterinarians and nurses,” the release said.
“As digital vet services rise in popularity, driven by rapidly changing regulations, we are excited to bring our proven and successful platform from Europe to North America, where the market is booming and ready for us,” said David Prien, CEO and co-founder of FirstVet, in the release. “We have already established ourselves as the essential telehealth partner to European pet insurers. With support from TELUS Global Ventures, we aim to scale our services in North America, extending our reach through new types of partnerships. Our US business has grown significantly, and with TELUS Global Ventures, we are poised to accelerate this progress.”
“As a global leader in identifying and supporting innovative companies, we are pleased to increase our investment in FirstVet, a leading pet telehealth business providing a comprehensive digital care journey for pet parents searching for the best care for their pets,” said Telus Global Ventures’ Doyle.
