A|I: The AI Times – Coveo eyes IPO

Louis Têtu, Coveo

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Coveo latest Canadian tech company to file for TSX IPO (BETAKIT)

Québec City-based artificial intelligence-powered retail tech startup Coveo has joined a growing list of Canadian tech companies that have filed to go public on the Toronto Stock Exchange (TSX).

Meanwhile, citing “adverse and challenging” market conditions, Montréal-based ad exchange Sharethrough has postponed its TSX IPO plans.


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Autonomous vehicle company Aurora is now a publicly traded company (THE VERGE)

It’s a significant milestone for the AV industry, which has struggled with overinflated expectations, missed deadlines, shuttered businesses, and a host of technological challenges.

San Francisco AI startup Sama eyes Montréal R&D expansion with $70 million Series B round (BETAKIT)

Following its latest funding round, Sama’s focus is on building out its R&D efforts in Montréal, where it aims to invest $100 million USD over the next three years.

Driverless delivery company Nuro nabs $600M and partners with Google (VENTUREBEAT)

Founded in 2016, Nuro is setting out to capitalize on shifting consumer expectations and trends that have been accelerated by the global pandemic, namely how they experience ecommerce.

Rebranded Shakudo secures $4.2 million CAD to help data science teams get AI solutions to market (BETAKIT)

In an interview with BetaKit, Shakudo co-founder and CEO Yevgeniy Vahlis said, long-term, Shakudo wants to become “the platform for emerging tech teams.”

Autonomous driving startup Momenta raises another $500M (TECHCRUNCH)

The startup recently opened its first overseas office in Stuttgart to be closer to its German partners, which may imply the footprint of its technology could extend beyond its home market.

Back for second cohort, Ryerson Venture Zone in Brampton expands program beyond healthcare into smart mobility (BETAKIT)

Speaking with BetaKit, Usha Srinivasan, the Executive Director of RVZ, explained how the expansion came to be, how RVZ differs from other incubators and accelerators, and what the program looks for in startup applicants.

Magnet Forensics files for $950 million CAD offering for “financing flexibility” (BETAKIT)

Kitchener-Waterloo-based digital investigation software firm Magnet Forensics plans to raise up to $950 million CAD, according to a preliminary short form base shelf prospectus the company filed this week. The news follows Magnet’s Toronto Stock Exchange debut in April.

Google-parent Alphabet has set up a new lab that will use AI to try to discover new drugs (CNBC)

The company will build on research carried out by London artificial intelligence lab DeepMind, which Google acquired in 2014.

Microsoft acquires BC-based Two Hat to moderate Xbox content (BETAKIT)

Two Hat has partnered with Xbox and the Microsoft team for several years. According to Microsoft, Two Hat’s tech has helped improve the safety of its global communities on Xbox, Minecraft, and MSN.

Facebook to shut down facial recognition in photos, videos (WALL STREET JOURNAL)

Facebook said it is shutting down its facial-recognition system in the coming weeks, scrapping a feature that has developed into a key tool for sharing photos on social media but has raised concerns among privacy advocates and regulators.

Why Trulioo’s Steve Munford thinks “we don’t need more unicorns” (BETAKIT)

Speaking with BetaKit ahead of his talk at SAAS NORTH, Steve Munford shared what he thinks is the right approach to growth for Canadian tech founders.

Google wants to work with the Pentagon again, despite employee concerns (NEW YORK TIMES)

Three years ago, the company walked away from a Defense Department project after employees objected to it. Now the company is working on a new proposal for the Pentagon.

BrainBox AI announces $24 million to fuel energy-saving tech for commercial buildings (BETAKIT)

BrainBox AI called the financing the “first close” of its Series A round, telling BetaKit it is working to raise a “top-up” in the next six to eight weeks from additional investors.

Josh Scott

Josh Scott

Josh Scott is a BetaKit reporter focused on telling in-depth Canadian tech stories and breaking news. His coverage is more complete than his moustache.

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