TORONTO, ON – November 12, 2007 – Wellocities Corporation, today announced that it has received a $1.0 million seed investment from XDL Capital Group. The funds are being used to launch a new online health service for Canadians. Wellocities, a Toronto-based Web 2.0 start-up was incubated by XDL Capital for the past year.
“We are pleased to be funded and working with XDL Capital,” said Dr. Alex Jadad, Chairman of Wellocities. “The firm provides us proven entrepreneurial experience and management skills which complement our team of health care providers and patients who have committed to making a difference in Canadian society.”
Wellocities’s goal is to become the health management destination for Canadians by enriching their health journey, while giving them the ability to become more proficient and efficient members of the health team.
“Canada’s health industry presents unique opportunities for change and constructive disruption,” said Dennis Bennie of XDL Capital. “The Wellocities team has the wherewithal to deliver a meaningful service to consumers and health service providers alike.”
About XDL Capital Group
Founded in 1996, XDL Capital Group has supported entrepreneurs building technology related companies in new and growing business sectors. The Company is primarily a private equity investor, uniting its interests with each investee. XDL Capital Group provides focused attention on its investments, sharing its experience, networks and knowledge to help them grow and prosper. For more information please visit www.xdl.com.
© 2007 Wellocities Corporation. All Rights Reserved.