Investment firm Raven Indigenous Capital Partners heads $3 million Series A financing round for RaceRocks 3D Inc.
RaceRocks 3D Inc. Secures $3 Million in Series A Funding
RaceRocks 3D Inc., a pioneering Canadian company in defense and aerospace training modernization, has announced a successful Series A funding round of $3 million. The funding, led by Raven Indigenous Capital Partners, will enable the Indigenous-owned and women-led company to scale its innovative training solutions and empower Indigenous careers.
Based in Victoria, British Columbia, RaceRocks specializes in providing bespoke software development and creating immersive training for clients in the defense and aerospace sectors. The company has already developed over $37 million worth of training and R&D programs for the Canadian Armed Forces and industry partners.
The funding round was advised by Hoskin & Harcourt LLP, a law firm specializing in Emerging and High Growth Companies. The firm's team, with extensive experience in advising venture capital funding rounds, Indigenous businesses, and venture capital funds, provided valuable guidance throughout the process.
Raven Indigenous Capital Partners, North America's leading Indigenous venture capital fund, invested in RaceRocks 3D Inc. The fund, which focuses on seed-stage Indigenous businesses in both Canada and the United States, sees great potential in RaceRocks' innovative approach to training and its commitment to Indigenous empowerment.
Anita Pawluk, the founder of RaceRocks, is actively engaged in the broader community, sharing insights on innovation and Indigenous leadership in technology and training through podcasts and public dialogues. This commitment to both technological advancement and Indigenous empowerment is reflected in RaceRocks' growth strategy.
With this investment, RaceRocks plans to expand its impact in the defense and aerospace sectors by enhancing training programs for marine, defense, and aerospace personnel. The company also aims to strengthen Indigenous participation and workforce development in these industries.
The legal team at Hoskin & Harcourt LLP, including Laura Webb, Ian Nelson, Mark Longo, Manveer Bisla, and Michelle Wong, provided advice to both RaceRocks 3D Inc. and Raven Indigenous Capital Partners during the Series A funding round.
This investment marks an exciting step forward for RaceRocks 3D Inc., as it focuses on opportunities in the defense and aerospace industries and continues to lead in delivering creative and immersive learning systems for its clients.
[1] RaceRocks 3D Inc. Announces $3 Million in Series A Funding. (2024, January 16). [Press Release]. [2] Raven Indigenous Capital Partners Invests in RaceRocks 3D Inc. (2024, January 16). [Press Release]. [3] Hoskin & Harcourt LLP Advises on RaceRocks 3D Inc.'s Series A Funding Round. (2024, January 16). [Press Release]. [4] Anita Pawluk Speaks on Innovation and Indigenous Leadership in Technology and Training. (2023, November 15). [Podcast Episode].
- The Series A funding round, led by Raven Indigenous Capital Partners, will enable high growth companies like RaceRocks 3D Inc. to scale its innovative training solutions, particularly in the defense and aerospace sectors, and further finance business expansion.
- With a keen eye on the defense and aerospace industry, RaceRocks 3D Inc.'s growth strategy includes empowering Indigenous careers through enhanced training programs and fostering greater industry participation, contributing significantly to the finance of the field and the progress of the industry.
