As the only angel fund committed to providing investment decisions in 48 hours, MLA48 II is proud to announce its first investment into the smart UV indicating sticker, developed by Suncayr. The initial investment from MLA48 II spurred interest from several MLA members, who oversubscribed the half a Million Dollar seed round, along with other participating local and international Angels.
Beginning as a nanotechnology engineering project for school, Andrew Martinko and his two co-founders, Derek Jouppi and Chad Sweeting, were drawn to the problem of skin cancer. The idea developed into what is now Suncayr, a smart UV indicating sticker that changes color with UV light, letting you know when your sunscreen is no longer protecting you. Suncayr has raised over $700,000 and won 47 grants and pitch competitions in the last 4 years. They have also expanded to three offices in Canada and Australia.
Co-founder and CEO Andrew Martinko notes,“The MLA48 process was straightforward, robust, and importantly for an entrepreneur, it was quick and efficient! We were thrilled to see the overwhelming interest amongst MLA members following on to the Fund investment. We will leverage the Maple Leaf network to access experienced mentors to fill current gaps, solidify our team and grow to the next stage of our business.”
MLA was introduced to Suncayr at a Johnson & Johnson Labs event earlier this year. The angels of MLA continue to stay active in the Canadian startup ecosystem and are seeking promising young technology companies like Suncayr, that would be a good fit for the recently closed and ready to deploy, MLA48 II.