Photo: Tacit Innovations CEO Cris Jucan and CTO Brenda Crainic are aligning themselves for a second seed-funding round after closing $450,000 from the Laurier Start-up Fund and angel investors.
Things are looking great for Tacit Innovations, a graduate of Communitech’s HYPERDRIVE program.
The company announced this week it has closed a $450,000 seed-funding round, bringing total investment to $1.1 million.
Tacit Innovations focuses on improving the dining experience for restaurant-goers. With the Maegan application, customers can discover restaurants, view menus and place customized orders instantly on their smartphones.
The funds raised are from angel investors and the Laurier Start-up Fund. Launched last fall, the fund aims to teach Wilfrid Laurier business students to make good investment decisions with startups — all thanks to a million-dollar donation from Michael and Hennie Stork. Tacit Innovations is the fund’s first investment.
“They went through a bunch of companies and they chose us,” said CEO Cris Jucan. “They were happy with our progress and what we’re doing, and they like our company.”
Since the launch of Maegan in May, the Toronto-based company has gained prominent local clients using their platform for dining-in and takeout services. The list includes The Bauer Kitchen in Uptown Waterloo, Beertown in Cambridge and the Westmount Golf and Country Club in Kitchener.
The company is currently aligning itself for another round of funding in September.
Jucan hopes the next round leads to partnership agreements with point-of-sale companies and other hospitality industry suppliers, allowing the company to scale.
“It gives us the opportunity to grow the company and continue our development and grow in our local markets — Toronto and Kitchener-Waterloo,” Jucan said.
