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
Drop closes $58 million CAD Series B with eyes on accelerated growth, going public(BETAKIT)
CEO Derrick Fung called Drop a company that was built in a world where, unlike most of its competitor rewards programs, it went straight to mobile.
Alberta tech sector holds its breath as province pauses innovation programs(BETAKIT)
A switch-up in leadership within the Government of Alberta has led to the suspension of several tech and innovation programs for the province.
11 Canadian companies participating in Y Combinator summer 2019 cohort(BETAKIT)
YC’s summer 2019 cohort was comprised of 197 companies overall, which pitched to investors over the course of two days.
Ontario’s advanced manufacturing Supercluster announces first project(BETAKIT)
“This project … will drive innovation in the treatment of diseases and genetic disorders.”
Startup Milestones
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Springboard Atlantic receives $9.6M (Read here)
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Sample receives $1M (Read here)
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Praemo raises $3.5M (Read here)
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GHGSat receives $3.3M (Read here)
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Quber raises $450,000 (Read here)
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Innovation Guelph receives $1.9M federal investment (Read here)
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Jibestream acquired by Inpixon (Read here)
Must Reads
Five Canadian cities with highest volume of investment dollars and deals in 2018(BETAKIT)
PwC broke down the Canadian cities that saw the highest volume of dollars and deals in 2018: Toronto, Vancouver, Montreal, Quebec City, and Calgary.
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.
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