A|I: The AI Times – Microsoft tries Two Hat on for size

Microsoft sign infront of building

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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.


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Israeli machine health co Augury raises $180m (GLOBES)

With a valuation of over $1 billion, Augury becomes one of the first company’s in the Industry 4.0 sector to achieve unicorn status.

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.

Abacus.ai snags $50M Series C as it expands into computer vision use cases (TECHCRUNCH)

Abacus co-founder and CEO Bindu Reddy, whose background includes stints at Google and AWS, says the company is trying to create a complete AI platform.

Neo Financial’s Series B leads Calgary’s venture funding bounce back in Q3 (BETAKIT)

Following a poor Q2 for tech investment, Calgary bounced back in the third quarter. Elsewhere, Toronto startups broke venture funding records again, Montréal and British Columbia continued to see strong results, and Waterloo Region saw deal volume hit a two-year low.

FDA authorizes AI software designed to help spot prostate cancer (WALL STREET JOURNAL)

U.S. health regulators have authorized the use of the first artificial-intelligence tool designed to help doctors diagnose prostate cancer.

Optina raises $24 million to bolster AI-powered early Alzheimer detection device (BETAKIT)

Named “awAIR,” the company is working towards submitting data related to the cerebral amyloid status test for Alzheimer’s disease for its FDA regulatory submission.

In this job market, more workers are choosing AI over humans for career advice (CNBC)

As employees seek new opportunities and skills, AI is becoming a popular source of professional advice, and companies including Oracle and IBM are betting it will be a key to employee management and retention.

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.

Adobe has built a deepfake tool, but it doesn’t know what to do with it (THE VERGE)

Deepfakes have made a huge impact on the world of image, audio, and video editing, so why isn’t Adobe, corporate behemoth of the content world, getting more involved?

BetaKit Live: The State of Canadian Startups on November 3rd (BETAKIT)

BetaKit has teamed up with Cisco Designed for a live-streamed conversation with Canadian tech and business leaders, taking place Wednesday, November 3 at 3:30 pm EST.

aDolus raises $3 million CAD to bolster supply chain security solution amid growing demand (BETAKIT)

According to aDolus, the funding will be used to fuel its marketing strategy, just in time to meet the growing demand for supply chain security solutions.

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. He was also the winner of SABEW Canada’s 2023 Jeff Sanford Best Young Journalist award.

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