Home » Newswire » Animikii Raises $1M to Scale Social Impact Through Indigenous Technology
Animikii Raises $1M to Scale Social Impact Through Indigenous Technology
by animikii onJune 18, 2019174 Views
LEKWUNGEN TERRITORY (VICTORIA, BC) June 18, 2019 — Animikii is excited to announce that it has successfully raised $1 million in financing from Raven Indigenous Capital Partners (Raven) and the Business Development Bank of Canada (BDC). The funds will be used to further build out the team and support the further development of Animikii’s Indigenous data sovereignty product to complement the company’s existing digital services.
“This $1 million in financing marks an historic event as it is the largest investment of its kind to support an Indigenous technology social enterprise on Turtle Island.” says founder Jeff Ward. He continued, “We hope to lead the way for other Indigenous tech companies to access capital at this level in the future.”
The financing consists of $750k equity investment from Raven, who will be joining Animikii’s board. Jeff Cyr, Managing Partner at Raven says “As an Indigenous impact investor in Canada, we found the perfect partner in Animikii, a cutting edge tech firm with a deep impact narrative and Canada’s first Indigenous B Corp, it’s really a trifecta for impact investment. We believe Animikii is amongst the first in a wave of high value Indigenous social enterprises.”
BDC’s support comes through its Indigenous Entrepreneur Loan Program at $250K and reinforces its track record of supporting Indigenous entrepreneurs over the years, with a current Indigenous entrepreneur client base of over 600 for $325M. “Indigenous entrepreneurs face unique challenges in accessing financing; Animikii is a shining example of the emerging, innovative businesses we want to help succeed”, adds Ryan Mclean, Vice President of BDC’s Indigenous Business Unit.
Ward closed by saying “We’re honoured to receive this level of support from two amazing, values-aligned organizations. We have a lot of work ahead of us as we continue developing technologies to support Indigenous data sovereignty at scale.”
Animikii is an Indigenous owned, values-based digital agency and social enterprise based out of Victoria, BC. It was founded in 2003 by Jeff Ward and was the first Indigenous certified B Corp in Canada. Animikii is also a Certified Aboriginal Business member of the Canadian Council for Aboriginal Business (CCAB). To find out more about Animikii visit animikii.com.
About Raven Indigenous Capital Partners
As an Indigenous-led and owned intermediary, Raven prioritizes the development of trust-based relationships with entrepreneurs at the centrepiece of its investment strategy. In addition to capital, the Raven team is committed to helping Indigenous social enterprises unlock and create value through capacity building and advisory support. Learn more about Raven at ravencapitalpartners.ca.
BDC is the only bank devoted exclusively to entrepreneurs. It promotes Canadian entrepreneurship with a focus on small and medium-sized businesses. With its 123 business centres from coast to coast, BDC provides businesses in all industries with financing and advisory services. Its investment arm, BDC Capital, offers equity, venture capital and flexible growth and transition capital solutions. BDC is also the first financial institution in Canada to receive B Corp certification. To find out more, visit bdc.ca.