Canadian startup news of the week (02/25/19)


Welcome to BetaKit’s startup stories of the week! Here, you will find the week’s most important news, features, and editorials published on BetaKit. If you prefer this update hit your inbox every week, make sure to subscribe to the BetaKit Newsletter using the form at the bottom of this page.

Top Stories of the Week

North lays off a reported 150 employees, government suspends investment(BETAKIT)

The layoff represents a substantial portion, close to a third of North’s current employees, which stood at more than 400 people.

Why Mojio keeps announcing its Series B funding(BETAKIT)

Last week, Mojio announced the close of a $52 million CAD funding round. Over 50% of that money came in 2017.

Element AI coming out of “stealth phase,” launching product with National Bank(BETAKIT)

Element AI decided to keep its head down while developing its first set of products.

How can Canada prevent another QuadrigaCX?(BETAKIT)

“This is a gap in the regulatory landscape, it’s arisen as a result of technology outstripping the ability to legislate faster.”

Startup Milestones

  • RenoRun raises $3 million seed round to build an Instacart for construction (Read here)

  • Influitive receives $10 million in equity and debt financing (Read here)

  • Terramera secures $13 million CAD investment from BDC (Read here)

  • Peraso raises $42 million CAD funding to modernize wireless connectivity (Read here)

  • Sampler raises $3 million Series A to build CPG brands’ best hope to combat Amazon (Read here)

Must Reads

As VC activity increases, can Fredericton build another Radian6?(BETAKIT)

It’s been eight years since Fredericton produced two nine-figure tech exits. What’s in store for the city in 2019?

Ask an Investor: How can I create optionality after I get an acquisition offer?(BETAKIT)

No matter what stage your business is in, optionality is something you can be proactively driving towards before an acquisition comes your way.

Why 2019 will reveal Canada’s new tech darling (CanCon ep. 139)

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Amira Zubairi

Amira Zubairi is a staff writer and content creator at BetaKit with a strong interest in Canadian startup, business, and legal tech news. In her free time, Amira indulges in baking desserts, working out, and watching legal shows.

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