Canadian startup news of the week (11/6/22)

Twitter Toronto office
Plus: Lightspeed and Nuvei increase revenues, see share prices drop.

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’s mass layoffs hit Canadian office

Twitter Canada’s managing director and director of public policy were among the Canadian staffers let go in the mass layoffs.

BDC commits $400 million for second cleantech-focused fund

“Our investment strategy is not about market trends but GHG emissions reduction,” said Jérôme Nycz, BDC Capital.

Dapper Labs lays off 22 percent of staff

The 22 percent reduction represents approximately 134 people, according to Dapper Labs’ LinkedIn profile.

TouchBistro secures $150 million to move upmarket and pursue strategic M&A as it braces for more economic uncertainty

TouchBistro chairman and CEO Samir Zabaneh said COVID-19 tested TouchBistro and its clients, forcing the former to introduce new solutions to serve restauranteurs. “Yes, we did lose revenue and we had some customers that closed permanently, and that was sad to see,” Zabaneh told BetaKit in an interview.

Market watch: Lightspeed, Nuvei increase revenues but reports lead shares to fluctuate

Lightspeed and Nuvei’s revenue increases appeared to underwhelm investors eager for good news.

How Canada can get a big slice of the trillion-dollar global semiconductor market

Hardware is cool again. And it’s an opportunity Canada can’t afford to miss.

How startup CFOs can prepare for their rapidly changing role expectations

With global turbulence as a driver, the role of the CFO in a tech-enabled business has now fundamentally changed.


2022 has still already surpassed the previous three years in Alberta venture funding.
Investor sentiment goes from FOMO to fussy as deal volume falls to three-year low.
Early-stage deals were nowhere to be found. So what comes next?
Amid uncertain climate, investors favour tending existing crops over sowing new seeds.
A flurry of headwinds pummeled Québec’s tech sector into its lowest investment quarter in three years.

Latest Funding, Acquisitions, and Layoffs

  • VIC – Audette – $12.8M (read more)

  • VAN – Hootsuite lays off 5 percent of staff (read more)

  • VAN – Blossom Social – $750K (read more)

  • TOR – Kensington Capital Partners nabs $72.5M VCCI commitment (read more)

  • TOR – 1Password acquires Passage (read more)

  • TOR – OnCall Health acquired by Qualifacts (read more)

  • OTT – Shopify acquires Remix (read more)

  • OTT – Nook Technologies – $2.39M (read more)

  • GAT – Connektica – $2.7M (read more)

  • MTL – Google opens new Montréal office, commits $2.75M (read more)

  • QUE – Voilà – $13.75M (read more)

Learn How to Scale Your Startup

At CDW, we work with startups at every stage of their journey, and we have partnered with leading technology provider Cisco to help you find the right technology for your growing business.

In this exclusive, on-demand webinar, Brent Lowe, scale-up coach and lead coach at BASE Associates, discusses the 5 Cs of designing your future as a leader of a scaling business.

By registering and watching this video, you will be automatically entered into a draw to win a private consulting session with Brent and his team.

Don’t miss out on this great session – sign up now!


“If Canadian VCs weren’t allowed to talk to journalists anonymously, they would never say anything.”

The BetaKit Podcast’s monthly AMA episode answers listener questions about what the future holds for Shopify, Wealthsimple, venture funding, and tech in the 2020s.


“One of the things that’s funniest in tech is the complete and utter lack of self-awareness.”

Comedian and podcaster Alexis Gay joins to share her transition from working in tech to creating content that perfectly articulates the absurdities of working in tech.

Subscribe to B|K: The BetaKit Newsletter

Subscribe to B|K using the form below to ensure the best from BetaKit hits your inbox every week.

* indicates required

Michael Edgar

Michael Edgar

Michael is a multimedia journalist working out of the U.K. and a staff writer for BetaKit.

0 replies on “Canadian startup news of the week (11/6/22)”