June 28, 2024
Haloo, a legaltech startup based in Toronto, has successfully secured $4.7 million CAD ($3.5 million USD) in funding to expand its trademark search solution. This round of funding, entirely equity-based and primary, is categorized as early Series A financing.
Project | Latest Raise | Latest Raise Date | Stage | Total Raise | Lead Investor | Category |
---|---|---|---|---|---|---|
Haloo | $3.5M | June 28, 2024 | Series A | $3.79M | Innospark Ventures | NFT, AI |
It was spearheaded by Innospark Ventures, a venture capital firm from Boston with a focus on artificial intelligence (AI). Other contributors included the Crown corporation BDC via its Thrive platform aimed at women, and LOI Venture, established by the founder of Hootsuite, Ryan Holmes, and the founder of New Avenue Capital, Manny Padda. Existing investors, such as W Fund, also joined in this round.
The company will use the funding to scale, with plans to expand sales, marketing, and recruitment efforts.
About Haloo
Haloo, established by Julie MacDonell and Sarah Ruest, was initially introduced as Heirlume with the aim of assisting small businesses in conducting trademark searches and applications. Recently, it transitioned to an enterprise Software-as-a-Service (SaaS) model and now provides a trademark search solution powered by a proprietary machine-learning model. This allows users to perform batch searches effectively. Haloo's platform caters to intellectual property teams, including lawyers and paralegals, and is offered as a white-labeled API for domain registrars and other providers of small business services.
Website: https://haloo.ai/Â
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About Investor
Investor: Innospark Ventures
Innospark Ventures is a venture capital firm based in Boston that specializes in Artificial Intelligence (AI). The firm stands at the crossroads of decades of expertise and a strong belief in the significant role that AI will play in our future. Innospark Ventures is committed to ensuring the success of AI and is the fund to help make this happen.
The firm invests in the uncharted potential of AI, leveraging computational intelligence to discover novel solutions to challenging problems across various domains. They believe that AI will accelerate and expand the ongoing shift to digital, impacting global business, government, and daily life. The firm is particularly interested in mission-driven AI that carries the hope of improving access, transparency, and affordability in areas such as education, climate, housing, and human health.
Location:Â Boston, MA
Website/s: https://www.innospark.vc/
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