The Globe and Mail reports in its Wednesday edition that Novisto Inc., a Montreal start-up that helps large corporations track and report on their environmental, social and governance performance, has raised $20-million (U.S.) in venture capital. The Globe's Sean Silcoff writes that Montreal's Inovia Capital led the equity deal, with investment from other new financiers Portage Ventures and French reinsurance company SCOR SE and past backers White Star Capital and Diagram Ventures. The deal represents a "substantial" increase in Novisto's valuation over 2021, when it raised $8-million (U.S.), said White Star managing partner Jean-François Marcoux. It shows that, despite the great shakeout under way in the tech sector, investors are still keen to back companies with both good growth prospects and promising unit economics. The deal did not involve any complicated terms, which financiers have increasingly demanded from cash-strapped start-ups to guarantee a larger share of proceeds when companies sell. The company had early luck signing on Canadian companies such as Bombardier, Bell, Intact, Manulife, TMX Group and CAE, then expanded globally, adding JetBlue, Moderna, Danone, AB InBev, Sanofi and Facebook parent Meta.