Lufa Farms, a commercial rooftop farm, has completed a $4.5 million financing to fund the expansion of its new rooftop farming operations in Quebec. The funds will also be used to begin expansion drives into Boston, New York, Chicago and Toronto. Montreal’s Cycle Capital Management led the investment round, which also included Lufa Farms’ founding team of Hage, Lauren Rathmell and Dave Furneaux.
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Montreal-based Cycle Capital Management has invested $4 million in LED Roadway Lighting Ltd., a Nova Scotia-based designer and manufacturer of LED-based street and area lighting. The investment is part of an $8 million total funding round, and was made in connection with Nova Scotia Business Inc., a business development agency, the firm said. Cycle Capital has $125 million under management and invests primarily in the northeastern of North America.
Cycle Capital Management has invested $2.5 million in American Aerogel Corp. Rochester, N.Y.-based AAC develops and makes aerogel-based insulation products.
Cycle Capital Management has invested another C$3.5 million into Enerkem, a Quebec company that specializes into converting waste into clean fuel. Cycle Capital, a Canadian VC firm, has so far invested C$7 million in Enerkem.