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
Venture Out team resigns en masse, citing diversity and inclusion concerns with parent organization(BETAKIT)
A joint statement made by Venture Out’s 12 volunteer members obtained by BetaKit cited hiring decisions made by Start Proud leadership as motivation for the team’s “largely BIPOC [Black, Indigenous, and People of Colour], women, and femme individuals” to resign.
Nuvei announces third quarter results, first since going public(BETAKIT)
Nuvei’s listing on the Toronto Stock Exchange (TSX) saw it become the largest technology IPO by both equity capital raised and market capitalization in TSX history.
Jim Balsillie, Dan Breznitz talk opportunity to adapt Canadian innovation policy amid COVID-19, US election(BETAKIT)
The COVID-19 pandemic presents opportunities for Canadian innovation, according to CCI’s Jim Balsillie and Dan Breznitz of the University of Toronto, despite accelerating negative economic trends.
Payments Canada taps Mastercard's Vocalink as provider for new real-time payments system(BETAKIT)
The decision follows a more than year-long procurement process that included the Bank of Canada and the Department of Finance.
Latest Funding, Acquisitions, and Layoffs
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Local Logic raises $8M Series A (Read here)
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Tailscale raises $14.5M Series A (Read here)
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Thoughtexchange closes additional $4M for Series B round (Read here)
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Thinking Capital acquires Ario (Read here)
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SEDNA Systems raises $10M (Read here)
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Google Canada commits $3.9M to Mila (Read here)
RECOMMENDED BY CIBC
Diving into a New Career with Aquatic Informatics CEO Ed Quilty(CIBC)
Cleantech superhero Ed Quilty fell into the business of saving lives through water monitoring. After losing the University internship he wanted, he turned a closed door into an unlimited window of opportunity.
On the #CIBCInnovationEconomy podcast series, we learn how, and why that’s the same advice he gives his employees today.
SEAN SILCOFF EXPLAINS HOW 2020 BECAME THE YEAR OF THE CANADIAN TECH IPO(BETAKIT)
Shopify and Lightspeed aside, Canadian tech IPOs were few and far between. Like most things in 2020, that changed. But why, and why so dramatically?
ACCELEPRISE GP WHITNEY SALES EXPLAINS HOW TO CLOSE DEALS DURING COVID(BETAKIT)
“Startups have to move fast for survival, but larger corporations have to move fast for survival as well these days.”
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