Foresight’s 2024 Cleantech Ventures List Features 4AG Robotics and DAANAA

Foresight Canada recently unveiled its fourth annual Foresight 50 list, which highlights 50 of the country’s most promising and investible cleantech ventures. This list is compiled by Foresight, a leading cleantech accelerator based in Port Coquitlam, BC, with the goal of recognizing companies that have the potential to make significant contributions to both the environment and the economy. The selection process is rigorous, with a panel of cleantech investors evaluating each venture based on several criteria, including their investability, the environmental and economic impact of their technologies, the strength of their leadership teams, and their likelihood of success in the market.

The 2023 list of recipients was announced at a special event held in Vancouver, where each company had the opportunity to pitch their business to a room full of potential investors. These one-minute pitches allowed each venture to showcase their innovative technologies and highlight why they are worthy of investment. The event also provided an opportunity for one-on-one meetings between the entrepreneurs and investors, facilitating meaningful connections that could lead to future funding and collaboration.

Among the companies recognized, several had previously been included in past editions of the Foresight 50 list, underscoring their continued growth and success in the cleantech sector. One such company is Brickeye, a Toronto-based startup that specializes in developing industrial Internet of Things (IoT) solutions and data analytics tools to help mitigate environmental risks in construction and infrastructure management. Last year, Brickeye raised a $5-million convertible debt financing round, led by BDC Capital, just one week before being named to the 2023 Foresight 50 list. This recognition is a testament to the company’s innovative approach to addressing the complex environmental challenges in the construction industry.

Another returning company is 4AG Robotics, based in Salmon Arm, BC. This company, previously known as Techbrew Robotics, is a leader in the development of autonomous robots designed for use in the agricultural sector, specifically in mushroom farming. These vision-guided robots are capable of autonomously picking, trimming, cleaning, and packing mushrooms with precision and efficiency, operating around the clock to streamline the farming process. After rebranding, 4AG Robotics raised $17.5 million CAD in Series A funding, further positioning the company for growth and continued innovation in the agricultural robotics space. The company’s success highlights the growing demand for automation in agriculture and its potential to improve both productivity and sustainability.

The Foresight 50 list continues to serve as an important platform for showcasing cleantech companies that are pushing the boundaries of innovation and working to address some of the world’s most pressing environmental challenges. As Canada’s cleantech sector continues to evolve, the ventures recognized on this list are leading the way in the transition to a more sustainable and low-carbon economy. 

The solutions developed by these cleantech ventures not only have the potential to create significant environmental benefits but also present substantial economic opportunities. By addressing key sustainability challenges, these companies are paving the way for a more eco-friendly future while simultaneously driving growth within the cleantech industry. Their innovations contribute to the reduction of carbon emissions, the efficient use of resources, and the development of sustainable technologies, all of which are essential to meeting global environmental goals. At the same time, they are generating new jobs, attracting investment, and fostering innovation, thereby strengthening Canada’s position as a leader in the global green economy. This dual impact—environmental and economic—reinforces the broader importance of cleantech ventures in shaping a more sustainable and prosperous future for both Canada and the world.