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
Telus announces $100 million tech-focused social impact fund(BETAKIT)
Telus has currently invested $45 million into the Telus Pollinator Fund For Good.
Q3 2020 venture capital investment in Canadian tech lowest in two years, CVCA finds(BETAKIT)
“The realities of COVID and the continued strength of valuations is apparent in the deal flow.”
Loblaw partners with Gatik to bring first autonomous delivery fleet to Canada(BETAKIT)
The partnership expands upon a 10-month pilot that began earlier this year, which saw Gatik and Loblaw testing one delivery vehicle in Toronto.
BC Tech closes Innovation Hub as federal funding expires(BETAKIT)
The CEO of the BC Tech Association, Jill Tipping, told BetaKit the hub couldn’t be sustained without the federal government investment that had been keeping it open for six years.
BC venture deal volume dropped to new low in Q3, but total funding shows a healthy ecosystem(BETAKIT)
Deal volume in BC has declined by 71 percent since Q3 2019 and 74 percent since the region’s previous high, 90 deals in Q2 2019.
Toronto venture funding in Q3 rebounds following disappointing first half of 2020(BETAKIT)
Since the first quarter of 2020, deal volume in the GTA has consistently increased, approaching pre-pandemic 2019 values.
Latest Funding, Acquisitions, and Layoffs
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3iQ’s Bitcoin Fund raises $75.5M in treasury offering (Read here)
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Tulip acquires Timekit (Read here)
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Intelex Acquires acquires ehsAI (Read here)
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SalesRight acquired by FastSpring (Read here)
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Thuzio acquires Toronto-based Robin (Read here)
RECOMMENDED BY CIBC
Pivoting for Greater Success with 7shifts Founder Jordan Boesch
Not many startups would have the nerve to walk away from two-thirds of their customers. But 7shifts founder Jordan Boesch realized the secret to greater success is focusing on who you’re solving a pain point for.
On the #CIBCInnovationEconomy podcast series, we learn how he turned a chaotic restaurant scheduling system of Post-It Notes and white-out into one of the most successful human resources software systems in the world.
CANADA’S INNOVATION IMPERATIVE(BETAKIT)
Did you know the Covid-19 pandemic presents opportunities for Canadian innovation? CCI chair Jim Balsillie and Dan Breznitz, the Munk Chair of Innovation Studies, discuss Canada’s failed innovation policy on BetaKit’s Black Swan podcast.
HOW SET SCOUTER BUILT INDUSTRY-WIDE SAFETY STANDARDS TO STAY IN BUSINESS(BETAKIT)
Alex Kolodkin, co-founder and CEO of Set Scouter, recounts how he felt as an entrepreneur when one side of his two-sided marketplace disappeared overnight, necessitating staff reductions.
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