Cinnos raises USD2m from Angel One, Ontario Centres of Excellence

Hamilton, Ontario, Canada-based high-tech start-up Cinnos MCI has raised more than USD2.3 million in equity financing from the community of Angel One investors in the Hamilton, Burlington and the Greater Toronto Area, as well as Ontario Centres of Excellence (OCE) through its Market Readiness Company Building (MRCB) program, the company said.

The financing was led by the Burlington-based Angel One Investor Network, one of the most active angel groups in Canada. The funds raised will provide the capital for Cinnos to build its next generation of the Mission Critical X (MCX), and fund its global expansion.

Cinnos has developed and commercialized a data centre appliance that enables immediate deployment and a pay-as-you-grow model for data centre providers.

Angel One Network Inc. is a not-for-profit organization with 90+ high net worth members who live, work or have strong interests in Southern Ontario. In the 5 years since Angel One´s inception, its members have invested over USD22 million in 84 rounds into 52 companies.