Angels invest $1 mln in iLoc Technologies to advance personal GPS tracking

Pointe-Claire, Québec-based iLoc Technologies Inc, maker of the TRiLOC™ GPS locator, a wearable GPS tracking and security product, has secured $1 million in funding from a group of twelve angel investors and Anges Québec Capital Fund. The deal was led by entrepreneurs and investors Christiane Brault and Jean-François Grenon. Anges Québec Capital Fund is managed by Anges Québec, a network of 130 private investors that supports early stage companies. The organization has so far backed 31 seed-stage and startup projects.

PRESS RELEASE

Twelve angels and the Anges Québec Capital Fund invest $1 million in iLoc Technologies

(Montreal, October 23rd 2013) – A group of twelve angels and the Anges Québec Capital Fund invested one million dollars in equal shares in iLoc Technologies, a Pointe-Claire business that has just won the Best provider and use of Technology prize at Medtrade 2013. The TRiLOC™ GPS locator, developed and marketed by the business, rallied several members of Anges Québec, including Christiane Brault and Jean-François Grenon who led this investment project.

Security and peace of mind
The TRiLOC™ GPS personal locator resembles a wristwatch, but can be used to accurately locate the person wearing it in real time. It offers peace of mind to informal and professional caregivers that watch over vulnerable people who need increased monitoring. Initially designed to ensure the safety of people who have autism spectrum disorders or are stricken with Alzheimer’s, the waterproof locator with the lockable strap can also be of great help for travelers, lone workers, women in distress and families with young children. Other practical features include fall detection alert, over speed alert, SOS button and two-way voice.

New horizons
“The angels helped us to expand our horizons and launch our product on a North American scale. It’s paying off, since we just won Providers’ Choice Award for our locator at the prestigious Medtrade conference which was held in Orlando, Florida last week! We received a very promising and encouraging reception by American homecare professionals,” said Tony Fama, President of iLoc Technologies. “We invested in a great Montreal team that was able to develop an innovative, technologically advanced product specially designed to help patients and their families. The TRiLOC™ bracelet offers greater mobility and security to an entire portion of the population most at risk,” specified angel investor Jean-François Grenon.

About Christiane Brault
Christiane Brault grew up in a family of entrepreneurs. Having worked side-by-side with her spouse to build and develop a successful business, she knows the various steps that entrepreneurs must go through. In the last 30 years, she has been actively involved in cultural and social services organizations, sitting on the board of directors of the CLSC Pierrefonds for more than ten years. Christiane is a strong supporter of entrepreneurs and encourages the creation of Quebec businesses.

About Jean-François Grenon
Jean-François Grenon has over 33 years of experience in the technology sector in the United States, Europe and Canada. He has designed and launched various innovative technical products and services on the global market, created several SMEs and has executed numerous mergers and acquisitions. As the head of Innova Corporation, he took the company public (NASDAQ) in 1997 and merged it with Digital Microwave Corporation in 1998, creating the world’s no 1 supplier of radio links to cellular networks. Jean-François has a degree in electrical engineering from the École Polytechnique and has an MBA from the Harvard Business School.

About Anges Québec
Anges Québec is a network of 130 private investors that identifies, finances and coaches innovative Quebec enterprises with high growth potential. In this capacity, Anges Québec works closely with a number of key Québec organizations interested in the development and growth of technological innovations. So far, Anges Québec members have invested and reinvested in 31 promising businesses in the seed and startup phases.

About the Anges Québec Capital Fund
Created in 2012 with a $20 million investment from the government of Quebec, through Investissement Québec, and $10M from the angels, the Anges Québec Capital Fund is dedicated to innovative Quebec businesses in the startup phase. The fund gives them a more substantial financial foundation by adding to the investments made by Anges Québec members.

For more information about the Anges Québec network, go to www.angesquebec.com

To keep track of news and activities, join Anges Québec on LinkedIn.com

Source :
Anges Québec
François Gilbert
Président-directeur général
fgilbert@angesquebec.com
418-261-0011

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