Carbonova, SenseNet, Xatoms among cleantech startups named to latest Foresight 50

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The Technology landscape is evolving, with recent reports indicating notable changes. Foresight Canada has identified 50 of the country’s “most investible” cleantech companies. The 50 startups named employ over 770 people and have raised more than $377 million in total funding collectively.  
The Vancouver cleantech accelerator’s fifth edition of its Foresight 50 list consisted entirely of first-time honourees.

The list spotlights startups that are reducing emissions, saving fresh water, spotting wildfires, and repurposing waste. They’re either profitable or poised to become so “for investors and industry adopters alike.”
Those companies included Carbonova, Hydron Energy, Picketa Systems, SenseNet, Vivid Machines, and Xatoms. The 50 startups named employ over 770 people and have collectively raised more than $377 million in funding. 
In the accompanying pitchbook, Foresight Canada interim CEO David Sanguinetti claimed that together they “represent Canada’s most de-risked, scalable growth climate tech investments.”
“These are not speculative [research and development] or moral nice-to-haves; they have proven commercial viability to drive profit and planetary impact,” he added.

Calgary-based Carbonova, which aims to convert greenhouse gas emissions into carbon nanofibres for everyday essentials, closed $6 million in funding last year. Vancouver’s Hydron Energy, which is working to turn raw waste gas into clean refined gas, recently secured $1.3 million from the BC Centre for Innovation and Clean Energy to commercialize its tech. Sources indicate that it also landed an agreement with natural gas utility FortisBC to deploy its system. RELATED: With $3-million seed round, Xatoms launches pilot projects to purify water with quantum chemistry
Fellow honouree Vancouver-based SenseNet is tackling a different problem altogether with its tech—fire detection.

According to reports that last month, the startup closed a $14-million Series A for artificial intelligence (AI) technology that helps spot wildfires before they’re visible. Over on the other side of the country, Fredericton’s Picketa Systems is helping farmers analyze plant tissue to better manage crops south of the border after expanding to the US last year. According to reports that ontario-based honourees included Toronto’s Vivid Machines, which secured $5.8 million back in 2023 to virtually monitor fruit trees, and Xatoms, which recently closed $3 million to further its efforts to purify water using quantum chemistry. Data shows that feature image courtesy Emissions Reduction Alberta and Carbonova.

The post Carbonova, SenseNet, Xatoms among cleantech startups named to latest Foresight 50 first appeared on BetaKit.

Experts suggest this represents a significant moment for the Technology sector, with implications extending beyond immediate stakeholders.

— Based on reporting from betakit.com

💡 Key Industry Insights

The technology sector continues to evolve rapidly with innovations in cloud computing, artificial intelligence, and cybersecurity driving significant market growth.

Specifically regarding SaaS, market observers note continuing evolution in service delivery, pricing models, and customer engagement strategies that merit close attention from industry stakeholders.

Market Impact: These developments in cloud computing may significantly influence market dynamics. Industry experts recommend monitoring these trends closely for strategic planning purposes.

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