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Combat gear maker Hayabusa secures financing from BDC

BDC Capital has provided undisclosed mezzanine financing to Hayabusa, a Kingston, Ontario-based designer and maker of equipment and apparel for boxing, jiu-jitsu, Muay Thai and other combat sports.

BDC made the investment through its growth and transition capital group.

Founded in 2006, Hayabusa’s products are used by both fitness enthusiasts and professionals. Last year, the company moved to a primarily direct-to-consumer sales model through its online store.

Hayabusa will use the funds raised for working capital, with a focus on producing inventory required to ramp up sales in the fitness training market.

PRESS RELEASE

Combat Equipment and Apparel Maker Hayabusa Secures Mezzanine Financing From BDC Capital

Ottawa, January 28, 2019 – BDC Capital’s Growth and Transition Capital division has provided mezzanine financing to Hayabusa of Kingston, Ontario. Founded in 2006, Hayabusa designs and manufactures high-quality equipment and apparel for boxing, jiu-jitsu, Muay Thai and other combat sports. Its products, which are recognized as some of the safest in the world, are used by fitness enthusiasts and professionals alike.

BDC Capital’s financing will serve as working capital to support Hayabusa’s growth as it aims to take advantage of the increasing popularity of combat sports as a form of fitness training among the general public. The company will principally use the funds to produce the inventory required to ramp up sales in that segment.

BDC Capital’s lead on this deal was Laura-Lee Brenneman, Director, Growth & Transition Capital, Ottawa. “We’re impressed by the energy and passion of Hayabusa’s management team and by its drive to create some of the safest and most innovative products in this space,” says Brenneman. “Last year, the company pivoted to a primarily direct-to-consumer sales model via the company’s own online store, which led to its highest yearly revenues yet.”

“BDC Capital understands the needs and challenges that face companies such as ours in a rapidly changing retail environment,” says Craig Clement, Hayabusa’s Co-president and CFO. “They treat their clients as true partners and help them succeed by truly recognizing their potential and working alongside them to realize it.”

About Hayabusa
Hayabusa (pronounced hi-ya-boo-sa) is highly regarded as the gold standard in combat equipment and apparel. Hayabusa possesses a relentless commitment and passion to produce only the highest calibre products in terms of both safety and performance, to help inspire athletes in their journey to becoming better, healthier and stronger.

About BDC Capital
BDC Capital is the investment arm of BDC- Canada’s only bank devoted exclusively to entrepreneurs. With $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers a full spectrum of risk capital, from seed investments to transition capital, supporting Canadian entrepreneurs who wish to scale their businesses into global champions. Visit bdc.ca/capital.

Contacts:

BDC Capital
Joanne Lajeunesse
Media Relations, BDC Capital
mediainfo@bdc.ca
1-844-625-8321

Hayabusa
Craig Clement, CPA CA
Co-President, CFO
craig@hayabusafight.com
1-888-776-1662, ext. 401

SOURCE: PEHUB

URL: https://www.pehub.com/canada/2019/01/combat-gear-maker-hayabusa-secures-financing-from-bdc/

Canadian Blockchain Company Helping Further eSports Development

https://coinsquare.com/register/?r=80UMM

Nova Scotia-based technology startup Ubique Networks, Inc. partnered with Sri Lanka’s national telecommunications provider Sri Lanka Telecom (SLT) to use blockchain to power eSports for Sri Lankan gamers.

Originally reported by gaming new site Gaming Post, the two parties signed a formal agreement in November 2018 at the Sri Lankan-based Canadian High Commission.

Ubique Networks will provide it’s Swarmio technology, based on its “Q Network” blockchain protocol to provide a decentralized gaming platform for Sri Lanka. The Swarmio dApp, according to reports, is already used by around 25,000 eSports players.

Swarmio’s goal is to allow gamers or eSports players to compete against each other globally with zero lag or latency using its blockchain and intelligent technology.

The technology will be used to meet Sri-Lankan gaming demand from millenials. eSports players will be able to organize and play in competitions based on Ubique’s blockchain technology. There currently appear to be three games available on the platform.

The Q Network uses distributed ledger technology (DLT) and artificial intelligence (AI) to provide real time interactive services. As well as the Swarmio dApp technology, Ubique Network’s is exploring its blockchain protocol’s application for 5G mobile internet of things (IoT).

The Q Network blockchain also has a native dApp called Q Node which allows normal PC users to peer-to-peer share idle resources. Users can choose to allocate unused storage space or processing power when their systems are not in use. Decentralized resource sharing could eventually begin to replace massive centralized data centers by using a connected network of many smaller devices which share power and resources where needed.

Ubique Networks hopes to build a hyperconnected, yet decentralized, computer network using its Q Network blockchain.

The company was created in 2015 by CEO Vijai Karthigesu. The organization received funding from investment from Toronto-based venture capitalists Extreme Venture Partners (EVP) and Nova Scotia’s Innovacorp. The company also won an “Export Achievement Award” from Nova Scotia’s Sydney Chamber of Commerce in 2017.

On top of equity investments and prize winnings, the company received a repayable investment of $500,000 from the Atlantic Canada Opportunities Agency’s Business Development Program in June 2018. This last funding was to expand its team from 14 to 24 and help with commercializing the platform and upgrading data centres.

In December 2018 Ubique added a third Canadian office at Volta Labs in Halifax, Ontario.

Image credit: Ubique Networks logo

SOURCE: Coinsquare

URL: https://coinsquare.com/register/?r=80UMM

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