Largest Investment of Its Kind into Indigenous Technology.
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.
Animikii Raises $1M to Scale Social Impact Through Indigenous Technology
“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.”