Coloursmith Labs Inc., a Halifax, Nova Scotia, Canada-based developer of next-generation contact lenses, raised over $600,000 in pre-seed funding.
Backers included Brigus Capital Inc., Island Capital Partners LP and Killick Venture Fund LP. In conjunction with the financing, Brigus Capital’s President, Wade Dawe, will join Coloursmith’s board of directors, along with Rhiannon Davies, former Vice President and Board Member of GrandVision N.V (Euronext: GVNV).
The company intends to use the funds to advance the development of its optical filter platform.
Led by Gabrielle Masone, CEO, Coloursmith Labs provides a technology platform to develop clinically beneficial filters for contact lenses. Its early-stage product pipeline includes an optical filter to enhance colour vision for the colour blind and an optical filter to protect eyes from harmful blue light.
The company, which previously secured $200k from pitch competitions and startup programs, is part of the Emera ideaHUB incubator at Dalhousie University.