CABHI invests $5 million in 19 companies that improve the lives of older adults

CABHI invests $5 million in 19 companies that improve the lives of older adults
Two of the 19 included on Forbes’ 30 Under 30 Local

Toronto – August 24, 2023. The Centre for Aging + Brain Health Innovation (CABHI) today announced that it has funded 19 Canadian agetech companies to receive up to $400,000 each to support their early-stage innovations aimed at improving the quality of life for older adults, people living with dementia, and caregivers.

The funding was made through CABHI’s Mentorship, Capital, and Continuation (MC2) Capital Program in partnership with National Bank, which supports early-stage companies in growing and scaling agetech solutions.

“Agetech companies face early-stage funding gaps. CABHI’s MC2 addresses this, in collaboration with our partners, by awarding financial support but by also offering a series of acceleration services to support their growth and sustainability,” says James Mayer, Senior Manager, Investments & Venture Services at CABHI. “It’s a first-of-its-kind program, now in its fifth round, which has directed $13.7 million to companies which have gone on to secure millions more in follow-on funding.”

The most recently funded MC2 companies are:

Careteam Technologies, Vancouver, British Columbia. Developer of a digital health collaboration platform intended to help patients, families, and health care providers to act effectively as a team.

Cerebra Health, Winnipeg, Manitoba. Provider of diagnostic technology services intended to assess sleep and the diagnosis of sleep disorders.

Cosm Medical, Toronto, Ontario. Developer of custom-made gynecological prosthetics designed to offer personalized therapies for pelvic floor disorders.

Darmiyan, Canada and US. Developer of a brain imaging technology designed to offer early detection, visualization, and quantification of neurodegenerative disorders.

Moneta Health (formerly Elovee), Canada and US. Operator of a healthcare platform intended to provide expert care for patients living with dementia.

FluidAI, Kitchener, Ontario. Developer of smart catheter system designed to create a proactive approach to the way post-operative care is delivered.

Foqus Technologies, Toronto, Ontario. Developer of a medical imaging system designed to provide higher-resolution medical images by using magnetic resonance technology.

ImaginAble Solutions, Hamilton, Ontario. An award-winning assistive device that enables people living with limited hand mobility to write, paint, draw and access technology. In August 2023, the founder Lianna Genovese was added to the Forbes’ 30 Under 30 Local list.

LUCID, Toronto, Ontario. Provider of personalized and validated therapeutic music experiences intended to improve outcomes in behavioral and neuropsychiatric health.

Mesosil, Toronto, Ontario. Mesosil is the developer of antimicrobial systems designed for dental practitioners.

Mind-Easy, Toronto, Ontario. Operator of a mental healthcare platform intended to offer culturally personalized mental health resources for workforces & individuals. In August 2023, the founders Alexandra Assouad, Dalia Ahmed, and Akanksha Shelat were added to the Forbes’ 30 Under 30 Local list.

Optina Diagnostics, Montreal, Quebec. Developer of ocular imaging systems and diagnostic tools designed to help detect key biomarkers of Alzheimer’s disease.

OraQ, Calgary, Alberta. Developer of a clinical decision support system designed to empower patients through improved dental treatment strategies, advanced patient assessments, and detailed risk profiling.

Paperplane Therapeutics, Granby, Quebec. Developer and provider of virtual reality video games designed for pain and anxiety management in clinical settings.

Rocket Doctor, Ontario, Alberta, British Columbia. Developer of a digital health marketplace designed to connect patients with board-certified physicians of all disciplines.

Tuktu Care, Vancouver, British Columbia. Developer of a technology platform intended for companionship and non-clinical services targeted toward older adults and their families.

Welbi, Ottawa, Ontario. Developer of a recreational platform designed to boost the resident experience for senior living communities.

Willful, Toronto, Ontario & Montreal, Quebec. Operator of an online will management platform designed to guide through the process of creating end-of-life arrangements.

Zinnia Technologies, Toronto, Ontario. Zinnia TV is a therapeutic tool designed to reduce stress for people on both sides of the dementia caregiving dyad.

To learn more about the funded companies and how their work applies to the brain health of older adults, visit our blog.

A solution accelerator for the aging and brain health sector, CABHI provides funding and support to innovators for the development, testing, and dissemination of the latest ideas and technologies that address unmet brain health and seniors’ care needs. Established in 2015, it is the result of the largest investment in brain health and aging in Canadian history. CABHI is a unique collaboration of healthcare, science, industry, not-for-profit, and government partners whose aim is to help improve quality of life for the world’s aging population, allowing older adults to age safely in the setting of their choice while maintaining their cognitive, emotional, and physical well-being.

CABHI gratefully acknowledges the support of its funders: the Government of Ontario through the Ministry of Colleges and Universities, and the Government of Canada through the Public Health Agency of Canada.