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
Element AI announces $200 million CAD Series B round(BETAKIT)
The $200 million in funding is one of the largest venture capital rounds in Canadian history, and follows a record-breaking year for Canadian tech.
Bunz locks down employee BTZ wallets as former admins lead mass exodus(BETAKIT)
In a public statement explaining the ‘Bunxit’, Palz admins outlined their reasons for no longer associating the Facebook groups with Bunz.
McRock Capital announces initial close of $80 million for Fund II(BETAKIT)
“We are at the beginning of the digital transformation in every industrial sector and urban environment around the globe.”
Shopify acquiring fulfillment platform 6 River Systems for $450 million USD(BETAKIT)
Founded in 2015, 6 River Systems offers cloud-based software and mobile robots called Chuck, which assist humans working in fulfillment centres.
Startup Milestones
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BioConnect receives $3.9 million from FedDev Ontario (Read here)
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UrtheCast secures $6.6M (Read here)
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Dapper Labs raises $14.5M (Read here)
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MediaValet raises $3.5M (Read here)
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Sourced closes $20M round (Read here)
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Showpass acquires Token Mobile Solutions (Read here)
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Fitplan raises $4.5M (Read here)
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Parity secures $1.25M (Read here)
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Stash Energy raises $400,000 (Read here)
Must Reads
Five Canadian cities with highest volume of investment dollars and deals in 2018(BETAKIT)
PwC broke down the Canadian cities that saw the highest volume of dollars and deals in 2018: Toronto, Vancouver, Montreal, Quebec City, and Calgary.
Ask an Investor: How can I create optionality after I get an acquisition offer?(BETAKIT)
No matter what stage your business is in, optionality is something you can be proactively driving towards before an acquisition comes your way.
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