Federal #Budget2023 includes cleantech commitments, little else for innovation
Budget 2023 includes $500 million to SIF for cleantech projects, billions in clean energy tax credits.
Carbon Neutral Club secures $1.4 million to incentivize employees to help companies meet climate targets
Startup sees employee action as missing piece for orgs looking to reduce emissions.
Rewind cuts 27 percent of staff as its growth slows in parallel to Shopify
Amid downturn, e-commerce slowdown, Rewind targets breakeven.
Magnet shareholders approve $1.8 billion Thoma Bravo acquisition as campaign against deal proves unsuccessful
Despite vote, dissenting shareholder says “this is not the end of the road for us.”
Vertu Capital closes first private equity fund with over $300 million
Led by ex-OMERS veteran Lisa Melchior, Vertu is Canada’s first woman-founded PE firm.
Symend reduces team by 25 percent in restructuring, four months after $54 million round
Latest cuts come after Symend laid off 13 percent of staff late last year.
FreshBooks lays off 10 percent of staff as company targets profitability
FreshBooks’ second round of layoffs since December sees third C-suite exec depart in past year.
Ericsson sets up new quantum research hub in Montréal
Telecom tech provider has also partnered with University of Ottawa and Sherbrooke.
CVCA CEO: Tech still needs influx of capital given possible investor pullback, even as liquidity concerns calm
Longer-term impact of SVB fallout has some in Canadian tech worried.
Canadian tech calls on feds to inject more liquidity into sector to avoid SVB-caused “full-blown crisis”
Letter asks Government of Canada to extend bridge financing program, guarantee secured loans on SVB deposits.
Meta’s additional staff cuts further call into question Facebook parent’s Canadian hiring plans
Meta plans to shed 10,000 employees, scale back hiring in second major round of layoffs since November.
Zenhub closes $10 million to make platform for managing software projects more accessible
Yaletown-backed Zenhub aims to take the silos out of software development.
Yaletown Partners hits $200 million final close for Innovation Growth Fund II
Yaletown saw four exits in 2022, including Tasktop, Circle Cardiovascular Imaging.
Loopio, Reelhouse co-founders launch Barley to help make employee compensation easier, more equitable
Golden Ventures-backed Barley has raised $5.4 million CAD to date.
Semiconductor firm GaN Systems to be acquired by Infineon for $830 million USD
GaN Systems CEO says Infineon will enable company “to unleash our full potential.”