A|I: The AI Times – Growing Canada’s deep tech

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The AI Times is a weekly newsletter covering the biggest AI, machine learning, big data, and automation news from around the globe. If you want to read A|I before anyone else, make sure to subscribe using the form at the bottom of this page.

Boast.ai hires new executives to scale, meet sizable R&D tax credit market opportunity (BETAKIT)

Earlier this year, the company raised a $125 million CAD credit facility from Brevet Capital in order to provide companies with up-front loans for their government research and development (R&D) tax credits.

Chinese driverless car company WeRide valued at $3.3 billion after fresh funding (CNBC)

The Nissan-backed startup did not disclose the sum raised but said it totalled “hundreds of millions” of dollars from venture capital investors.

How Canadian tech is tackling the global problem of food insecurity (BETAKIT)

On the #CIBCInnovationEconomy podcast, Dr. Sylvain Charlebois and Dr. Michael Gilbert talk about food insecurity, and how tech is tackling the challenge.

BDC Capital launches $200 million fund to bolster Canada’s deep tech ecosystem (BETAKIT)

The move follows BDC Capital’s recent investment in Montréal’s Boreal Ventures. Another new deep tech firm, RiSC Capital, just secured a first close of over $7 million for its new fund.

Chip maker Alphawave tumbles on London debut after raising $1.2 billion in IPO (BARRONS)

Shares in chip maker Alphawave IP slumped on its trading debut, after the Canadian company raised £856 million ($1.2 billion) in its London initial public offering.

Ada secures $130 million USD, claims $1.2 billion valuation (BETAKIT)

The funding news comes just over a year after Ada raised a $63.7 million CAD Series B round – though the company had to lay off 36 employees in April 2020 amid pandemic-related uncertainty.

Google plans to double AI ethics research staff (WALL STREET JOURNAL)

Google announced in February that Ms. Croak would lead the AI ethics group after it fired the division’s co-head, Margaret Mitchell, for allegedly sharing internal documents with people outside the company.

Three strategies for startups looking for new revenue streams (BETAKIT)

Xero Canada Country Manager Faye Pang shares advice for how startups can find new revenue streams from both new and existing customers.

BlackBerry expands partnership with University of Waterloo to support students, R&D, commercialization (BETAKIT)

BlackBerry said the expanded partnership aims to “fast-track the development of research and technology into market-ready products.”

Softbank-backed health AI startup moves into clinical care with key Amazon hire (FORBES)

At the Boston-based startup, Majmudar will be using technology to tackle some of the most complex patients with multiple chronic conditions.

Einride accelerates in US with $110m funding round (SIFTED)

The Swedish electric self-driving truck company says there is a business case for 30-40% of the trucking market to go electric immediately.

Volta, Scale AI launch program to help supply chain startups scale (BETAKIT)

Volta CEO Martha Casey said the program’s success will be evaluated primarily based on growth goals set in a consultative process with participants.

Teach AIs forgetfulness could make them better at their jobs (TECHCRUNCH)

The solution hit upon by Facebook researchers is essentially — and wouldn’t we all like to have this ability — to tell itself how long it needs to remember a piece of data when it evaluates it to begin with.

Access to working capital essential to the success of Canadian small businesses (BETAKIT)

American Express Canada VP Paul Roman explains why many Canadian small business owners are still in “survival mode.”

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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