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Maple raises $75 million from Loblaw

Toronto-based telemedicine startup Maple has raised $75 million CAD from Loblaw Companies Limited through its subsidiary, Shoppers Drug Mart. Loblaw Companies has taken a minority stake in Maple, six months after Shoppers Drug Mart began working with the startup. Maple will be working with Shoppers Drug Mart in the coming months to develop new programs to improve in-person and virtual healthcare. A spokesperson for Maple told BetaKit the $75 million in funding constituted a Series B for the company. Belchetz noted that Shoppers Drug Mart was looking to fund access to telemedicine, which is usually not covered publicly in provinces like Ontario.

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