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Raquel Urtasun launches new self-driving startup Waabi with $100 million CAD from top investors (BETAKIT)
The round was led by Khosla Ventures, which has invested in the likes of Square, Stripe, and DoorDash, and includes participation from autonomous driving startup Aurora, which acquired Uber ATG.
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The Mountain View-based startup provides its clients with a talent acquisition platform that helps them identify suitable candidates and import and filter thousands of resumes.
The Toronto company initially sought to raise between $5 million and $8 million through the offering, but ended up securing $9.2 million in gross proceeds following the exercise of an over-allotment option.
The new funding would more than double the company’s valuation of $2.7 billion from a November fundraiser, highlighting the robust investor appetite for fast-growing enterprise software companies.
The conclusion comes nearly a year after Clearview AI, an American facial recognition tech company, pulled its service out of Canada in response to a joint investigation from Canadian privacy authorities involving the company.
While public investors will be losing this large, publicly-traded player in the $30 billion transcription market, a new one could go public in 2022.
SoftBank and IonQ in strategic pact on quantum computing (WALL STREET JOURNAL)
The giant Japanese tech investor has taken a large stake in the Maryland start-up to eventually bring quantum-computing power to other SoftBank portfolio companies.
In an interview for the #CIBCInnovationEconomy podcast series, Carter Griffin, General Partner at Updata Partners, shared the metrics he really cares about as an investor.
Google said in a paper in the journal Nature that a chip that would take humans months to design can be dreamed up by its new AI in less than six hours.
Through the fund, AQC and its backers aim to support the development of innovative Québec startups and help accelerate their international growth ambitions.
U.S. launches task force to study opening government data for AI research (WALL STREET JOURNAL)
The Biden administration has launched an initiative aiming to make more government data available to artificial intelligence researchers, part of a broader push to keep the U.S. on the cutting edge of the crucial new technology.
Mphasis has reached a strategic, public-private partnership with the Government of Alberta and the University of Calgary.