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Pulse Industrial secures $3.5 million from SDTC to improve safety in industrial plants (BETAKIT)
Founded in 2018, Kitchener-Waterloo based Pulse uses artificial intelligence (AI) and Internet of Things (IoT) technology designed to improve safety and reduce fuel consumption in industrial plants.
The University of Toronto’s pioneering research in AI over the past 40 years has led to game-changing advances in science, technology, and medicine
Today, our entrepreneur community is harnessing the power of AI and taking on some of the world’s biggest challenges.
Innovative U of T AI Ventures:
Deep Genomics is using AI to find life-saving drugs for genetic diseases faster.
Waabi is developing sophisticated AI systems for safe and scalable autonomous driving.
Xanadu is building the first large-scale and room-temperature quantum computer using predominantly off-the-shelf and affordable products.
Learn about U of T’s newest innovative startups at Entrepreneurship Week.
Canadian tech firms with Ukraine offices struggling to get employees out of country as Russian forces advance (THE GLOBE AND MAIL)
Canadian tech firms with offices and employees in Ukraine are trying to help staff flee the country amid the intensifying Russian invasion, but efforts to get them access to Canada have so far largely gone nowhere. The war has had wide-ranging impacts on Ukraine’s tech ecosystem. Many commonly used products and technologies have Ukrainian roots. The country also houses a booming tech outsourcing sector that has been put at risk by the ongoing conflict.
BC’s budget strong on cleantech; Alberta positions itself as major tech hub (BETAKIT)
While BC’s NDP government focused on its debt, Alberta’s Conservatives expected to post a healthy surplus in the coming year.
Meta announces plans to build an AI-powered ‘universal speech translator’ (THE VERGE)
Universal AI translation could be a killer app for Meta’s future.
Cohere closes $125 million USD Series B round led by Tiger Global (BETAKIT)
Toronto-based AI startup Cohere has secured $125 million USD in Series B financing to fuel its United States expansion plans. Cohere, which aims to make natural language processing more accessible, first emerged from stealth in May 2021 and announced a $40 million USD Series A round in September.
Waymo to keep robotaxi safety details secret, court rules (TECHCRUNCH)
In its lawsuit, Waymo argued being forced to reveal trade secrets would undermine its investments into automated driving technology and have a “chilling effect across the industry” where the DMV is no longer a safe space for companies to transparently share information about their tech.
Mila partners with AI Sweden to bolster AI R&D in Canada and Sweden (BETAKIT)
Mila and AI Sweden joined forces in the fall when the latter took up space in Mila’s office. AI Sweden has placed staff at Mila, essentially giving it a physical presence in Montréal.
Facial recognition company Clearview AI seeks first big deals, discloses research chief (REUTERS)
Clearview AI, whose search engine for faces has become an unrivaled police tool, this year is aiming to win its first big U.S. government contracts and expand its team by a third even as the startup fights challenges in the courts and Congress, its chief executive told Reuters.
Raquel Urtasun’s Waabi unveils “revolutionary” autonomous vehicle testing simulator (BETAKIT)
AI and self-driving car expert Raquel Urtasun says the next generation of autonomous vehicle technology is here. Eight months after coming out of stealth mode with her company, and securing $100 million CAD in initial capital, Urtasun has unveiled the capabilities of Waabi’s technology.
Why age verification is so difficult for websites (WALL STREET JOURNAL)
The more rigorous the systems are, the more privacy issues they create. But AI offers a possible solution.
D-Wave hopes to raise $431 million CAD as it prepares to go public via SPAC (BETAKIT)
The deal is anticipated to close in the second quarter of 2022, and is expected to give D-Wave a valuation of approximately $1.5 billion CAD ($1.2 billion USD).