Canadian startup news of the week (06/17/17)

Welcome to BetaKit’s startup stories of the week! Here, you will find the week’s most important news, features, and editorials published on BetaKit. If you prefer this update hit your inbox every week, make sure to subscribe to the BetaKit Newsletter using the form at the bottom of this page.

Top Stories of the Week

ElementAI

Element AI raises $137.5 million Series A, plans to hire 100 people in Toronto

The Montreal-based company plans to hire 250 people globally by January 2018.


Govt

Canadian gov’t’s fast-track visa program officially launches today

The fast-track visa promises a process time of 10 days to two weeks for high-skills talent.


BetaKit

Slack reportedly raising $500 million USD, attracting takeover interest from Amazon

Slack also reportedly has a projected revenue of $1 billion next year.


BetaKit

McRock Capital’s Whitney Rockley becomes first woman to chair CVCA

The Canadian Venture Capital Association was founded in 1974.


Startup Milestones

  • Top Hat raises $9 million, launches collaborative platform to disrupt textbook publishing industry (Read here)

  • Figure 1 raises $13 million Series B as it explores new revenue streams (Read here)

  • Lanla raises $2.5 million to fund company growth (Read here)

  • Porter wins $10,000 cash, six months of mentorship from Kamloops Innovation contest (Read here)

  • Hootsuite plans to open office in Vancouver’s new tech campus (Read here)

  • Mappedin collaborates with Apple to offer indoor mapping services in US malls (Read here)


Must Reads

BetaKit

#BetaKit1on1: Real Ventures’ Janet Bannister shares the most important thing Canadian companies should focus on

“I think the most important thing in order to be a scale up and to be the next unicorn is how do you scale your sales and marketing?” said Bannister.


meeting

Ask an Investor: How do I pick the best lawyer for my startup?

Founders should consider a lawyer whose firm has the capability to effectively serve startups.


CanCon Podcast Ep. 72: E3 + Uber fail + Canada’s tech ‘moment’

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Amira Zubairi

Amira Zubairi

Amira Zubairi is a staff writer at BetaKit. As a fourth-year journalism student who has written primarily about entrepreneurship, Amira has developed a growing interest in Canadian startup, business, and tech news. In her free time, Amira enjoys reading, baking and watching legal shows.