AVAC Invests $1M in Calgary Start-up eThor

Calgary-based eThor Inc., a company that provides a two-way communication layer integrating social media channels and mobile devices with retail point-of-sale (POS) systems, has attracted a $1 million investment from Canadian early-stage venture capital firm AVAC. The private start-up company will use proceeds from the funding to execute on its existing sales pipeline and forge new partnerships in the POS industry.

PRESS RELEASE:

eThor, the world’s most powerful point of sale (POS) integration platform, has announced a $1 million investment into the company by AVAC Ltd., a private Alberta Company that invests in promising tech companies.

“The Online to Offline (O2O) commerce opportunity is burgeoning and we believe eThor has a unique platform approach to rapidly capture a big piece of the market,” said Jacques LaPointe, Sr. Investment Manager of AVAC Ltd. “We are very pleased to be one of eThor’s earliest investors and we feel this current investment will assist rapid customer adoption.”

eThor plans to use the funding to further capitalize on the $1.3 trillion online-to-offline commerce market by executing on its existing sales pipeline and forging new partnerships within the POS industry.

The company’s powerfully simply solution provides a complete 2-way communication between retail POS systems and user devices, enabling retailers to push live product and pricing information from their POS system directly into the pockets of consumers.

Unlike work-around solutions that bypass the POS integration problem with either hardware or disconnected apps, eThor tackles the problem of POS integration head on by creating a common data language that enables consumer applications to connect and speak with any integrated POS system.

“We’re excited to have AVAC on board as one of our investors” said Gary Ziegler, CEO of eThor. “This financing will help us to expand our operations and support our rapid expansion into the marketplace.”

About eThor

eThor provides a 2-way communication layer integrating social media channels and mobile devices with retail point-of-sale (POS) systems. This powerfully simply solution enables retailers to push live product and pricing information from their POS system directly into the pockets of consumers, empowering them to seek and find products online but consume locally. eThor is a Calgary, Canada-based company with offices in San Francisco, Calif. For more information, visit www.ethor.com.

About AVAC Ltd.

AVAC Ltd. is an Alberta-based investment company. We invest in promising early-stage commercial ventures in value-added agri-business, information and communications technologies, life sciences, and other industrial technology sectors. We also manage an active early-stage venture capital fund-of-funds investment pool and an angel co-investment fund.

Our mandate is to help bridge the critical investment gap that exists between innovative ideas and commercial business success. To date, AVAC has invested $127 Million directly in over 120 companies with 61 companies reaching commercial revenue.

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