On May 2, 2024, Potential Motors, an AutoTech startup based in New Brunswick, announced that it secured C$2 million in seed funding. The all-equity round was led by Brightspark Ventures, with additional participation from returning investors Build Ventures and the New Brunswick Innovation Foundation, and new investor Farpointe.
The investment will help Potential Motors advance the commercialization of its terrain-perception technology, targeting a range of industries, including automotive, power sports, mining, and defence. The funding aims to support the company's journey toward production-scale deployment.
Fasken advised Brightspark Ventures in connection with this transaction with a team comprised of Marc Shewchun and Alec McIlwraith-Black.
Jurisdiction
- Ontario
