Signal 1’s $10 Million Seed Financing

Osler, Hoskin & Harcourt LLP advised Signal 1 on the matter.

Signal 1 announced strategic collaborations with Unity Health Toronto, a leading health network in Ontario, and TD Bank Group (TD) and its world-leading applied AI division, Layer 6. Signal 1 launched with US$10 million in Seed financing led by iNovia Capital. Other investors in the round include TD, AI pioneer Geoffrey Hinton and Radical Ventures.

Through its collaboration with Unity Health, Signal 1 will build on leading-edge AI systems already in use by clinicians at St. Michael’s Hospital, part of Unity Health. Signal 1’s agreement with TD will provide US$4 million in Seed financing from TD and will enable the venture to leverage the AI technology platform that has been developed by TD’s Layer 6 team.

Signal 1 is a health AI start-up with the mission to transform patient care through responsibly deployed AI.

The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group . TD is the fifth largest bank in North America by assets and serves more than 26 million customers in three key businesses operating in a number of locations in financial centers around the globe: Canadian Retail, including TD Canada Trust, TD Auto Finance Canada, TD Wealth (Canada), TD Direct Investing, and TD Insurance; U.S. Retail, including TD Bank, America’s Most Convenient Bank®, TD Auto Finance U.S., TD Wealth (U.S.), and an investment in The Charles Schwab Corporation; and Wholesale Banking, including TD Securities. 

Inovia Capital is a venture firm that partners up with audacious founders ready to build enduring global technology companies. 

The Osler team comprised of Chad Bayne (Picture), Justin Dharamdial, Ryan Unruch, Jennifer Humphrey, Ferial Fekri (Emerging and High Growth Companies), Simon Hodgett, Sam Ip (Technology), Steven Dickie, Ksenija Novakovic (Employment & Labour), Alan Kenigsberg (Tax), Nik Popovski and Shira Dveris (Articling Student).

Involved fees earner: Chad Bayne – Osler Hoskin & Harcourt; Justin Dharamdial – Osler Hoskin & Harcourt; Steven Dickie – Osler Hoskin & Harcourt; Ferial Fekri – Osler Hoskin & Harcourt; Simon Hodgett – Osler Hoskin & Harcourt; Jennifer Humphrey – Osler Hoskin & Harcourt; Sam Ip – Osler Hoskin & Harcourt; Alan Kenigsberg – Osler Hoskin & Harcourt; Ksenija Novakovic – Osler Hoskin & Harcourt; Ryan Unruch – Osler Hoskin & Harcourt;

Law Firms: Osler Hoskin & Harcourt;

Clients: Signal 1 AI;

Sonia Carcano

Author: Sonia Carcano