Canadian startup news of the week (2/07/21)

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


Georgian doubles down on Top Hat with $130 million USD investment as company swaps CEOs

The deal brings Georgian’s share to just below 50 percent majority ownership. SEC filings reviewed by BetaKit confirm a new Georgian Alignment Fund I, which sources indicated participated in the investment.


Hubba to shut down

An unconfirmed number of Hubba employees were also laid off as part of the decision (LinkedIn lists 45 current employees, with the majority located in Canada).


As founding partners step back, a new Real Ventures prepares to raise its next fund

Regarding the overall evolution and next phase of Real, Bannister told BetaKit, “We very much value diversity of thought [and] diversity of perspectives on the Real Ventures team.”


Fiscal third-quarter sees Lightspeed continue growth trajectory with revenue increasing 79 percent year-over-year

The Montreal company’s revenue totalled $57.6 million when accounting for the addition of its recent acquisitions, ShopKeep and Upserve.


Latest Funding, Acquisitions, and Layoffs


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Caitlin Hotchkiss

Caitlin Hotchkiss

Content coordinator, social media smartypants, wordsmith, Human Workflow™. Exists primarily on coffee, cat pictures, German dance metal, and pro wrestling. I will fight for your right to the Oxford comma.