Angel Investors Back Halifax’s Novawise

Halifax, Nova Scotia-based start-up Novawise Inc., a specialist in mobile data collection software that offers businesses a new way to capture complex data using any mobile device, has secured investment from First Angel Network, an organization of angel investors based in Atlantic Canada. The investment, the amount of which was undisclosed, surpassed its target by 50%, according to the company. In 2012, Novawise also received the backing of Saint John, New Brunswick-based East Valley Ventures.

PRESS RELEASE

Novawise Receives Investment from First Angel Network

APRIL 26, 2013

HALIFAX, NS – Novawise is receiving support from First Angel Network (FAN) investors in one of the most successful financings in FAN history. Total investment surpassed the target by 50%.

The Halifax-based mobile data collection software company received an overwhelmingly positive reaction when they presented to FAN members in New Brunswick and Nova Scotia last February.

“Support of this magnitude from First Angel Network is very positive for us,” said David MacKinnon, President and CEO of Novawise. “Not only is the financial investment important to our success, but the support they provide goes far beyond the dollars and cents. The advice we receive from them is invaluable and they are consistently connecting us with not only new investors, but potential customers. It’s great to see some of the region’s most established business leaders and investors recognizing the potential of our product.”

Brian Lowe, Co-Founder and Director of First Angel Network said: “We see many exciting early stage companies looking for investment in Atlantic Canada – often the selection process is difficult. Novawise had that compelling combination of an excellent product, huge market potential, and exceptional leadership that makes the investment decision easier. We are pleased to support Novawise and look forward to contributing to their success in the years ahead.”

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About Novawise

Novawise Inc. is a privately held corporation based in Halifax, Nova Scotia, Canada, formed in 2010 by former executives in the pharmaceutical and enterprise software industries. Novawise makes mobile data collection software that is powerful and easy to use, offering businesses a new way to capture complex data using any mobile device.

About First Angel Network

The First Angel Network Association (FAN) is a not-for-profit organization formed to bridge the capital gap for companies with extraordinary potential in Atlantic Canada. Created by angel investors for angel investors, FAN provides entrepreneurs and investors with a confidential, disciplined, high-quality private equity investment experience. FAN also delivers education and networking opportunities in the areas of investment readiness, angel investing and commercialization. For more information, visit their site.

Media Contacts:

David MacKinnon

President and CEO
Novawise Inc.
(902) 579-2780
david.mackinnon@novawise.com

Brian Lowe

Co-Founder and Director
First Angel Network
(902) 483-6689
bl@firstangelnetwork.ca

 Photo courtesy of Shutterstock.