What is SmartD?
SmartD Technologies is a specialized Canadian engineering firm focused on the development of high-efficiency variable frequency drives (VFDs). The company distinguishes itself through the implementation of Silicon Carbide (SiC) technology, which allows for the delivery of a pure sine wave to motors. This innovation effectively eliminates the need for bulky external filters, enabling industrial operators to achieve compliance with IEEE519 harmonic standards while simultaneously reducing the physical footprint and complexity of their power drive systems. By prioritizing smarter, smaller, and more efficient hardware, SmartD is effectively disrupting traditional motor control architectures in demanding industrial applications.
How much funding has SmartD raised?
SmartD has raised a total of $25M across 2 funding rounds:
Series A
$14.2M
Other Financing Round
$10.8M
Series A (2024): $14.2M with participation from SE Ventures, Boreal Ventures, and Investissement Quebec
Other Financing Round (2026): $10.8M led by Boreal Ventures, Hammond Power Solutions, Investissement Quebec, Desjardins, and Schneider Electric Ventures
Key Investors in SmartD
Schneider Electric Ventures
SE Ventures is a venture capital fund focused on Climate Tech and Industrial Tech, acting as a growth engine for pioneering founders by leveraging the global customer base and domain expertise of Schneider Electric.
Boreal Ventures
Boreal Ventures specializes in investing in early-stage startups that have achieved product-market fit, providing founders with operational support to scale their businesses sustainably across sectors including industrial innovation.
Investissement Quebec
Founded in 1998, Investissement Quebec assists in the growth of investment within the province, offering a full range of financial solutions such as loans, loan guarantees, and equity investments to foster economic development.
What's next for SmartD?
With the successful closure of this major strategic investment, SmartD is well-positioned to scale its manufacturing capabilities and deepen its penetration into key industrial sectors. The company's roadmap likely involves leveraging its strategic partnerships with global energy management leaders to integrate its SiC-based solutions into broader automation ecosystems. Future growth will be defined by the firm's ability to maintain its technical lead in harmonic mitigation while scaling production to meet the rising demand for energy-efficient industrial infrastructure. Investors will be monitoring the company's progress in commercializing its filterless drive technology across international markets, where the demand for sustainable and compact power solutions remains at an all-time high.
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