Nanotech startup Nicoya Lifesciences wins C$2 mln from VCs

Kitchener, Ontario nanotechnology startup Nicoya Lifesciences Inc has secured C$2 million in its latest financing. U.S. venture capital firm Ripple Ventures and Canadian angel group Golden Triangle Angel Network led the round. They were joined by MaRS Investment Accelerator Fund, BDC Capital, Garage Capital, Angel One, Maple Leaf Angels, Innovation Grade Ventures and others.


Nicoya Lifesciences, a leader in biotechnology, has raised $2 million in its latest financing round. Nicoya’s financing round was filled entirely by investors in the Toronto-Waterloo Corridor. The financing round was led by Ripple Ventures and GTAN, with participation from MaRS IAF, BDC, Garage Capital, Angel One, Maple Leaf Angels, Innovation Grade Ventures, the Laurier Startup Fund, the University of Waterloo Student Venture Fund and the Waterloo Alumni Angels.

Nicoya Lifesciences uses nanotechnology to reduce the cost and complexity of scientific instruments, making them accessible to everyone. By using highly sensitive biosensors, these instruments allow scientists to better understand diseases and develop new drugs to treat them. Giving more people access to these powerful tools will help accelerate new discoveries and help extend human life throughout the world.

Nicoya Lifesciences was launched in 2012 as a spin-out of the University of Waterloo. Today, their scientific instruments have been used by hundreds of innovative researchers in over 25 countries.

“The entire Nicoya team have built a product that lets academic & private institutions run tests at a fraction of the cost,” said Matt Cohen, Managing Partner of Ripple Ventures. “We are confident that their data-driven sales strategy will accelerate their time to market and quickly disrupt the fragmented SPR industry. Ripple Ventures is thrilled to co-lead this investment in Nicoya Lifesciences.”

“Investing in Nicoya was a no-brainer for us. This financing really highlights the growth and success of angel investing in Ontario. A record eleven angel investors from GTAN, as well as ten other angels from Maple Leaf One and Angel One, participated in this oversubscribed raise,” said Brian Hunter, President of NorthSpring Capital Partners and co-lead for GTAN.

The funding will support new product development and expand sales and marketing.

“We are developing some of the most advanced biosensor technologies in the world and we are excited about the impact they will have on human health in the future,” said Ryan Denomme, Nicoya Lifesciences co-founder and CEO.

Nicoya Lifesciences is currently hiring! Be a part of their mission to extend human life, apply now:

About Nicoya Lifesciences Inc.
Launched in 2012, Nicoya Lifesciences is a Canadian biotechnology company whose mission is to extend human life by enabling deeper knowledge of the biological world. Nicoya Lifesciences instruments are used by hundreds of world-renowned researchers in over 25 different countries. Information about Nicoya Lifesciences can be found at