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About Innovation Factory

Innovation Factory, an accelerator and incubator program founded in 2010, is based in Hamilton, Canada. With a presence in 4 countries, it has supported around 68 startups in sectors like Enterprise Applications, Consumer. As of May 2026, Innovation Factory has witnessed 3 portfolio exits. Most notable companies in its portfolio include Able Innovations, Ackroo and Steadiwear. The program is backed by a team of 51 people who primarily support Seed startups based in Canada. Its latest investment was a $100K Seed round in iUGO Health on Apr 01, 2018.
Key Metrics
Founded Year
2010
Location
Hamilton, Canada
Portfolio Companies
Sectors of Investment
Stages of Investment
Seed
Locations of Investment

Innovation Factory's List of Top Investments

Innovation Factory has a portfolio of 68 companies. Their most notable investmentis in iUGO HealthTheir portfolio spans across Canada, United States, Brazil and 1 more locations. They have invested in Enterprise Applications, Consumer, Life Sciences and 27 other sectors, across stages such as Seed stage. Here is the list of top investments by Innovation Factory:
Manufacturer of robotic systems for automated patient transfers in healthcare. These devices utilize motorized gears and sensors to move individuals between surfaces. The technology incorporates collision avoidance and algorithms to manage the transfer process. By automating the physical movement of patients, the equipment reduces the manual labor required by staff during routine care tasks. The system provides data regarding utilization and status to assist with operational monitoring.

Key facts about Able Innovations

Provider of software for loyalty programs gift cards and payments. This platform enables businesses to manage customer engagement tools including digital and physical gift cards, reward programs, and promotional campaigns. The system integrates with point of sale hardware to process credit, debit, and mobile transactions. It provides reporting features to track sales activity and transaction data. The technology supports various retail, automotive, and service sectors by facilitating customer retention and transaction processing.

Key facts about Ackroo

Designer & manufacturer of healthcare gloves. The company claims that its products are designed to intelligently stabilize the wrist joint in Essential Tremor and Parkinson's disease. It allows patients to perform daily activities comfortably. Its gloves are washable and battery-free.

Key facts about Steadiwear

Manufacturer of portable color measurement devices for various industries. These devices facilitate accurate color matching and communication across diverse applications, including paint and interior design, print and packaging, and graphic arts. The company provides software and supporting databases to enhance the functionality of its hardware, enabling users to capture, analyze, and share color data efficiently. A software development kit is also offered for custom solutions. The devices are designed for durability and ease of use, eliminating the need for frequent calibration.

Key facts about NixSensor

Key facts about Acuity Insights

  • Founded Year: 2014
  • Location: Toronto (Canada)
  • Stage: Series A
  • Total Funding till date: $5M
  • Employee Count: 182 as on Apr 30, 2026
  • Investors: Updata, BMO and 1 Other
  • Latest Funding Round: Series A, Aug 08, 2023, $*****

Innovation Factory's Investments by Stage

Innovation Factory has made 1 investment in Seed stage with an average round size of $100K.

Innovation Factory's Investments by Sector

Innovation Factory has a diverse portfolio, with companies operating in the Enterprise Applications, HealthTech and Vertical SaaS. Notably, it has invested in 50 Tech companies, 40 Enterprise (B2B) companies, 31 Software companies and at least 19 companies focusing on Consumer (B2C).
Here are Innovation Factory's investments by sector:
Sector
No. of Investments
Enterprise Applications
1
HealthTech
1
Vertical SaaS
1
Breakdown of Innovation Factory's investments by sectorsEnterprise Applic... (1)HealthTech (1)
Note: We have considered here, only first round of investments

Innovation Factory's Investments by Geography

Innovation Factory has made most investments in Canada (1).

Innovation Factory's recent investments

Innovation Factory has not made any investment in 2026 so far.
Here are the most recent investments by Innovation Factory:
Date
Company
Location
Round Details
Round Amount
Co-Investors
Apr 01, 2018
Canada
Seed
1915
-

Acquired companies in Innovation Factory's Portfolio

3 companies from Innovation Factory's portfolio have been acquired. The most recent acquisition was Ackroo in Dec 2024 by Paystone for $*****.
Here are Innovation Factory's portfolio companies that got acquired most recently:
Company
Acquisition Date
First Invested on
First Round of Investment
Round Size
Dec 12, 2024
-
-
2079
Dec 07, 2021
-
-
7361
Jul 28, 2021
-
-
5330

Team profile of Innovation Factory

Innovation Factory has a team of 51 members including 13 Partners and 4 Principals located in Canada and Germany. Innovation Factory's team sits on the board of 1 company.
Here is a list of top team members in Innovation Factory:
Name
Designation
Location
Board Memberships
Contact Details
Partner
Toronto
-
Partner
Munich
-
Partner
Toronto
-
Partner
Hamilton
-
Partner
Hamilton
-
Partner
Toronto
-
Partner
Mississauga
-
Partner
Oakville
-
Partner
Hamilton
-
Partner
Hamilton
-
Partner
Oakville
-

Recent News related to Innovation Factory

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FAQs about Innovation Factory

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