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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.
Alphawave, holders seek $1.1 billion in London semiconductor IPO (BNN BLOOMBERG)
The Canadian company is looking to raise 360 million pounds by selling as many as 96 million shares in an initial public offering, while shareholders plan to offload a stake worth as much as 450 million pounds, according to terms seen by Bloomberg.
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.
Shift Technology raises $220M at a $1B+ valuation to fight insurance fraud with AI (TECHCRUNCH)
With this round, Paris-and-Boston-based Shift Technology has now raised some $320 million and has confirmed that it is now valued at over $1 billion.
New council launches to advance Canada’s semiconductor industry (BETAKIT)
The council plans to build a “national semiconductor strategy and action plan,” and lead various actions aimed to strengthen Canada’s semiconductor industry, including its competitiveness and supply chain resilience.
How to better leverage SR&ED refunds to accelerate startup growth (BETAKIT)
Boast.AI’s Russ Armstrong explains how using Quarterly Advanced Refunds on SR&ED claims can dramatically accelerate startup growth.
Toronto startup backed by AI experts aims to bring Google-quality predictive language to the masses (THE GLOBE AND MAIL)
Cohere Inc., which will offer broader access to machine-learning software, boasts big-name backing from deep-learning godfather Geoffrey Hinton and other key global AI leaders.
Ceridian to acquire Toronto talent intelligence startup Ideal (BETAKIT)
After partnering with Ceridian for about two years, Ideal is set to become part of Ceridian as the startup looks to expand its reach and accelerate its product roadmap “with increased resources.”
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.
The autonomous vehicle world is shrinking — it’s overdue (THE VERGE)
After years of positive vibes about the future of autonomous vehicles and nearly unrestricted access to cash from Kool-Aid-drunk venture capitalists, the AV industry is confronting some hard truths.
Toronto became a healthtech hotbed in 2020 (BETAKIT)
Healthtech has emerged as a leading vertical for venture capital investment in the Greater Toronto Area as COVID-19 pushed governments and institutions to embrace health innovation.
Governor General’s Innovation Award winners include leaders of Swift Medical, Adaptiiv (BETAKIT)
This year, six individuals and groups have secured the honour, including two key members of Canadian healthtech startups.
How startups can manage cashflow (BETAKIT)
Speaking with BetaKit, Xero Canada Country Manager Faye Pang shared her advice on how startups can properly set up their cash flow management.