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
Canada’s new Minister of Small Business wants Canada to go global(BETAKIT)
Taking over the portfolio from Bardish Chagger, former Minister of Small Business and Tourism, Ng’s role reflects the government’s new focus on helping Canadian companies export to global markets.
Chrysalix announces first close of $120 million USD fund(BETAKIT)
Wal van Lierop, founder and managing partner of Chrysalix, said that the firm had closed almost half of Chrysalix RoboValley Fund, and is set to close $129 million ($100 million USD) by the end of the year.
Canadian government invests $25 million in Creative Destruction Lab(BETAKIT)
The government said the funding will create and maintain 125 jobs, and will involve 1,300 science-based ventures in a wider network across Canada over four years.
Communauto first free-floating carshare approved under Toronto pilot(BETAKIT)
Communauto was the first to receive a permit from the city’s 18-month free-floating car share project which began in July.
Startup Milestones
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Eigen Innovations raises $3.5 million (Read here)
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Cinchy raises $3 million(Read here)
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TwentyBN raises $13 million CAD Series A(Read here)
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Storyflow raises $500,000 for voice app entertainment platform (Read here)
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lululemon CTO Julie Averill joins Indochino board (Read here)
Must Reads
Calgary converting economic downturn into tech opportunity(BETAKIT)
For the first time ever, Calgary was a top five Canadian tech market by deal volume in Q2 2018.
Ask an Investor: What happens if the partner who led my deal leaves the firm?(BETAKIT)
The good news is that the rules aren’t necessarily set in stone.
Is your tech company killing you? (CanCon ep. 131)
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Photo via Communauto