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
Shopify selling $1.55 billion USD in stock offering, expands partnership with TikTok(BETAKIT)
Having become one of Canada’s topmost valuable companies in 2020, Shopify is optimizing on the increase in demand for its product.
CPPIB CEO steps down after travelling abroad to get COVID-19 vaccine(BETAKIT)
Machin got his first dose of the Pfizer-BioNTech COVID-19 vaccine in the United Arab Emirates (UAE) earlier this month, as first reported by The Wall Street Journal.
Provincial investment in Nova Scotia's Sandpiper Ventures prompts public debate on supporting women in the workforce(BETAKIT)
A $5 million investment made by the Nova Scotia government in women-focused venture firm Sandpiper Ventures has created a stir in the province, with proponents on both sides arguing over the best way to invest in women.
Alberta 2021 budget includes funding for tech sector as part of overall economic recovery plan(BETAKIT)
The government has committed a total of $500 million to economic recovery as part of the new budget.
The Accelerator Centre appoints new CEO Jay Krishnan as it looks to adopt a more global mindset(BETAKIT)
AC’s decision to bring on Krishnan, who has more than 20 years of experience as an investor, founder and innovation leader, is part of what AC called “the beginning of a new chapter.”
Report reveals inequities for women of colour in Canadian C-suite roles that echo tech sector(BETAKIT)
“Having a strong inclusive leadership pipeline has the ability to transform not only a single company, but the future of Corporate Canada.”
Latest Funding, Acquisitions, and Layoffs
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Borrowell raises $25M (Read here)
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Givex acquires Pi Cashe Systeme (Read here)
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NextPoint Acquisition plans to acquire Liberty Tax, LoanMe (Read here)
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Herjavec Group majority stake acquired by Apax Funds (Read here)
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BIM One to be acquired by Newforma (Read here)
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ZenHub raises $5.9M seed round (Read here)
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AmacaThera raises $10.3M Series A round (Read here)
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Elevate Farms closes $6.2M in equity financing (Read here)
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Snack raises $4.4M pre-seed round (Read here)
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TradeCafe raises $10M (Read here)
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HYAS raises $20M Series B round (Read here)
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Goodfood closes $60M bought offering (Read here)
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TRADE X secures $50M line of credit (Read here)
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Peak Power raises $12M financing round (Read here)
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Novarc Technologies secures $2.6M (Read here)
RECOMMENDED BY INVEST OTTAWA
International Womxn’s Week: We Mean Business
International Womxn’s Week (IWW) is twelve jam-packed days of virtual events designed to unite allies and inspire, equip, and empower womxn in leadership in professional fields.
Kick-off IWW on Monday, March 1st at The “F” Factor: Fuelling Womxn Founders, a free digital ‘tell-all’ event featuring an all-star panel and keynote by Mandela SH Dixon, CEO & Cofounder, Founder Gym.
Founder Gym is an online program that trains underrepresented founders on how to raise money, whose graduates have gone on to raise over $80M in capital in less than three years.
This event is all about funding, fundraising, and fearlessness in growing your startup or scale-up.
Make the most of 2021: Register now.
UNDERSTANDING CANADIAN TECH’S LEADERSHIP TURNOVER(BETAKIT)
The Globe and Mail’s Sean Silcoff and BetaKit Associate Editor Meagan Simpson join to discuss recent leadership turnover at Shopify, Top Hat, Real Ventures, FreshBooks, and more.
PROOF THAT ENTREPRENEURS REALLY DO THINK DIFFERENT(BETAKIT)
The unique burdens of entrepreneurship can be hard to bear. Dr. Michael Freeman lays out steps founders can take to promote positive mental health.
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