PEI

P.E.I. tech companies get seed capital from public-private group

Island Capital Partners announced seed stage investments in two more P.E.I. technology companies Thursday.

$460K invested in 2 companies

Island Water Technologies creates water purification systems for remote locations. (Island Water Technologies)

Island Capital Partners announced seed stage investments in two more P.E.I. technology companies Thursday.

Island Water Technologies will receive $255,000 and Garago Software $205,000.

Island Water Technologies specializes in water purification technologies for remote locations, and is currently running pilot projects in China, the U.S. and Kenya.

Garago produces a cloud-based software that allows municipalities to issue permits, tenders and other government documents in electronic format.

"We are ecstatic to launch our product across North America in 2018. Obtaining seed funding at this stage was timely," said Francis Thériault, CEO of Garago Software, a news release.

Island Capital Partners is a partnership between the P.E.I. government and local entrepreneurs. The group created a fund last year to make investments in early stage Island companies with potential for growth.

Island Capital Partners has previously made investments in Onset Communication and Forestry.IO.