Canadian startup news of the week (10/24/21)

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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


Twitter eyes Canada as product launchpad amid developer hiring spree

Since its initial announcement of the hub in March, Twitter has hired 60 new Toronto-based engineers. With 180 employees now across the country and dozens more roles to be filled, Twitter is looking to make a long-term investment in Canada.


Hopper acquires PlacePass, scores Marriott Bonvoy as customer for B2B business

Montréal’s Hopper is expanding its B2B offering for travel company partners with its acquisition of Boston-based PlacePass. The move follows a busy 2021 for Hopper, which has raised a total of $345 million USD in Series F and Series G financing, the former at a valuation of $3.5 billion.


Lightspeed’s Dax Dasilva launches environmental nonprofit, pledges $40 million for conservation, restoration projects

“I always knew that I would start to do meaningful conservation work in my life, [and] contribute to making a difference on the planet,” Dasilva told BetaKit.


Rumor Avenue acquires FLIK as company aims to empower women founders

FLIK’s platform, which it first launched in January 2020, has seen significant growth over the past year.


Shopify to help bands merch-ify their Spotify

Artists on Spotify can now connect their Shopify store to show off their merch and music right on their Spotify profile.


Following $61 million TSX IPO, Propel Holdings eyes US expansion

Following a summer slowdown, a wave of Canadian tech startups have returned their focus to public markets. This week, Propel Holdings completed its Toronto Stock Exchange (TSX) initial public offering (IPO), and a trio of other firms took steps towards their own TSX IPOs, including E Automotive, Sharethrough, and Q4 Inc.


How this Indigenous-led VC firm invests for financial and community impact

Fresh off the final closing of its $25 million initial fund, Raven is now looking to write $250,000 to $2 million cheques into purpose-driven Indigenous-led enterprises.


Cisco Canada survey reveals how startups and SMBs are approaching post-pandemic recovery

With responses from over 1,000 startup and SMB leaders, the results show a potential misalignment between leaders’ stated challenges, priorities, and areas for investment.


Latest Funding, Acquisitions, and Layoffs

  • VIC – Plurilock Security to acquire assets of CloudCodes (read more)

  • VAN – SkyHive – $49.3M (read more)

  • VAN – Fraction Technologies – $20M (read more)

  • VAN – Pocketed – $1M (read more)

  • VAN – FLIK acquired by Rumor Avenue (read more)

  • WIN – Hoot Reading – $3M (read more)

  • WAT – EmergConnect – $350K (read more)

  • MIS – Axis Auto Finance – $15M (read more)

  • TOR – Penn National Gaming completes $2B acquisition of theScore (read more)

  • TOR – Spin Master launches new $100M venture fund (read more)

  • TOR – Propel Holdings – $61M (read more)

  • TOR – Lydia AI – $10M (read more)

  • TOR – Tokens.com acquires 50 percent stake in Metaverse Group (read more)

  • TOR – Armilla AI – $1.5M (read more)

  • TOR – Steadiwear – $1.1M (read more)

  • TOR – Bedrock AI – $1M (read more)

  • TOR – Wisely acquires Hopeful (read more)

  • MTL – FTEX – $485K (read more)

  • HAL – Affinio to be acquired by NowVertical Group (read more)

  • STJ – CoLab Software – $21M (read more)

  • ND – BC entrepreneur-led startup Takachar wins $1.6M prize (read more)


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Josh Scott

Josh Scott

Josh Scott is a BetaKit staff writer who loves to tell Canadian business and tech stories. His coverage is more complete than his moustache.