Montréal, 17 Juillet 2024 — Cycle Momentum, an accelerator and innovation platform, announced today a co-investment through its Origo program. Origo is a pre-seed and seed investment matching program for climate technology in Quebec.
Cycle Momentum is investing in ReliOn, to support critical charging infrastructure required for EV adoption. Cycle Momentum is co-investing with Diagram Ventures, AQC Capital, and Anges Quebec.
Diagram, AQC Capital and Anges Quebec are members of the Circle of Partner Funds. This Cycle Momentum initiative helps strengthen investor participation in the climate tech ecosystem and stimulate investment in innovative technology companies and entrepreneurship within the sector.
“Cycle Momentum is proud to invest in ReliON alongside Diagram, AQC Capital, Anges Quebec and others, to optimize charging infrastructure and support the transition to electric vehicles.” – Jennifer McDonald, Senior Vice President of Investments, Cycle Momentum
“We are excited to have Cycle Momentum’s financial and strategic backing. Cycle Momentum’s extensive network of financial and industrial partners will also support our growth and technology deployment.” Benoit Lacroix, CEO of ReliOn
“Diagram Ventures is proud to lead ReliON’s $3M Seed round as the first investment out of our ClimateTech fund. We are happy to welcome, among others, the participation of Cycle Momentum, a well-connected member of the Quebec ClimateTech ecosystem. Cycle is a valuable partner of Diagram and we look forward to further collaboration opportunities as we strive to build impactful companies in Quebec and across Canada.” – Paul Manias Partner at Diagram Venture
“AQC Capital is proud to participate in ReliON’s Seed round, in collaboration with Diagram, MARS, and CycleMomentum. Our investment in ReliON reflects our recognition of the critical role startups play in shaping the future of the EV sector, and its team’s dedication to improving the reliability of charging networks makes them a must-have partner for their operators.” –Stéphane Caron, general partner at AQC Capital
Thanks to Environnement Québec for supporting the Origo program as part of the plan pour une économie verte 2030.
About Cycle Momentum
Cycle Momentum is an international acceleration and innovation platform whose mission since 2015 has been to identify and support the development of cutting-edge technologies to address the major ecological challenges facing humanity. A member of the Cycle Capital platform, Cycle Momentum offers acceleration and open innovation programs to support entrepreneurial growth, financing and commercialization of climate technologies. We establish the necessary collaborations between industrial leaders and start-ups to accelerate their commercialization. We offer investment opportunities through our Origo program and our extensive network of investors.
About ReliON:
ReliON is a leading provider of end-to-end Operation & Maintenance (O&M) solutions for electric vehicle charging infrastructure, providing integrated experience from problem detection to resolution. Leveraging technology, expertise and partnerships, ReliON’s solution proactively monitors and optimizes charging station performance, ensuring uninterrupted access to charging infrastructure for businesses and individuals alike. ReliON is dedicated to empowering the transition to electric mobility by delivering reliable, efficient, and sustainable charging solutions.
About Diagram Ventures:
Diagram is a Venture Builder and Investor with over $350M in assets under management, specializing in launching and scaling ventures in Fintech, Web3, and ClimateTech. Since 2016, Diagram has collaborated with exceptional founders to launch more than 20 ventures, combining access to capital, hands-on support, and a deep ecosystem of partners to catalyze the growth of world-changing companies.
About AQC Capital:
AQC Capital manages two venture capital funds to support businesses in the startup phase. The fund invests in Quebec companies in all sectors that seek to bring innovation to global markets. AQC Capital teams up with Anges Québec, the largest angel investor network in the country, and together the groups bring smart capital to startups thanks to their experience and network.
About Anges Québec:
As Canada’s largest group of angel investors, Anges Québec has been supporting passionate, innovative entrepreneurs for 15 years. With over 200 members from diverse backgrounds, we have invested close to $149 million in over 200 Quebec technology companies, in partnership with the AQC Capital fund. We are proud to play a leading role in Quebec’s venture capital industry, actively supporting local innovation.
