Raven Indigenous Capital Partners announces investment in Runwithit

Raven Indigenous Capital Partners — North America’s only Indigenous-led and owned VC intermediary — announced its multimillion-dollar backing of Runwithit Synthetics (RWI), a company specializing in 3D synthetic modelling, data visualization, and digital twin technology.

Regions and cities are using the company’s digital models as “sandboxes” to explore the potential impact of natural or human-caused events. These scenarios could involve climate, sustainability, energy, or public health challenges. To date, RWI has worked with 14 municipalities in Edmonton, Calgary, Los Angeles County, and Nashville. Its work has also won an award for the United Nation’s global call for innovative solutions for decarbonizing.

“[Decision-makers] are under pressure to future-proof their critical infrastructure against all kinds of new threats, from climate risk to cyber attacks, all while balancing the costs of these investments,” Devon Krainer, a Raven investment associate, told the Vancouver Tech Journal. “RWI's AI-powered tech enables the rapid development of scenario-based models that reveal decades-forward impacts on people, infrastructure, and the environment.”

Krainer added: “Whether modelling the Edmonton region’s hydrogen energy hub, or working with an Alberta-based First Nation to capture what the future of their community and youth services look like, RWI provides leaders with decision-support tools towards more equitable and sustainable futures.”

RWI said the new backing will allow the company to grow its team, add more products, and expand regional access. The organization will execute these goals through market development and partnerships, and developing its digital twin infrastructure globally.

“[Our] partnership with Raven fuels our capacity to reach and deliver new ways of successfully seeing, assessing, and engaging accelerated change to a global market,” said the company’s co-founder and CEO, Myrna Bittner.

Indigenous businesses transforming industries

Raven’s backing of RWI marks its second investment in Alberta this year. As for B.C., the firm has put money into five companies across the region in 2024: data infrastructure startup Artemis, aerospace training software company RaceRocks 3D, North America's first Wi-Fi-enabled shower Rainstick, Canadian airline Iskwew Air, and modular building designer NUQO.

Krainer highlighted that many Indigenous startups across Western Canada are building industry-leading tech. She also said that the founders from its portfolio companies share some common strengths. One of them is creating innovative products that address market needs traditionally overlooked by the mainstream.

“For example, Victoria-based Animikii’s Niiwin data-sovereignty product, and Vancouver-based Artemis’ AI-powered Diana, [which] optimiz[es] data teams’ workflows,” said the associate. “RWI’s platform is another leading example of the possibilities created through Indigenous innovation.”

Similarly important to Raven is investing in companies that demonstrate climate leadership in different ways — from AI to data analytics, edtech, and consumer brands.

“Many of our companies are environmental leaders, such as Salish Soils, converting waste streams into high-value products; Rainstick, a recirculating shower system generating 80 per cent energy and water savings; and RWI, predicting the impact of cleantech investments on energy grid resilience.”

The third area of leadership addressed by Krainer was how the firm looks for companies that draw on diversity as a source of competitive advantage

“Diversity and inclusion is woven into the DNA of Raven’s portfolio companies and is instrumental to their commercial success,” said Krainer. “Take, for instance, Bobbie Racette, a queer Cree-Métis woman, who founded Virtual Gurus to create meaningful earning opportunities for traditionally underrepresented communities. Similarly, RWI is dedicated to advancing a better world by applying diverse expertise and voices through deep tech to inform equity, sustainability, and resilience.”

Editor’s note: This article has been updated to include that Raven also invested in modular building designer NUQO this year.

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