Canadian startup news of the week (4/17/22)

Plus: The problem keeping entrepreneurs up at night.

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 proposes governance changes to protect CEO Tobi Lütke’s voting power

The company also announced that its board approved a proposed 10-for-one split of the company’s class A and class B shares. The planned share split is subject to the approval of at least two-thirds of the shareholders.

Sid Paquette will now head RBC Ventures and RBCx

Nearly two years after joining RBC, Sid Paquette is now the head of both RBCx and Ventures, the bank’s venture arm. Paquette first joined RBC in 2020 to launch RBCx, the technology and innovation banking group.

Amid mounting competition, Float’s CEO believes company has what it takes to win in Canada

Since joining Float as CEO just over a year ago, Rob Khazzam has steered the Toronto-based corporate card and spend management startup from “effectively zero” to over 1,000 Canadian company customers.

Plooto wants to solve the problem keeping entrepreneurs up at night

After years of seeing shoeboxes full of receipts land on his desk week after week, Plooto CEO and co-founder Hamed Abbasi finally found a better way to manage business payments.

Alberta launches new innovation strategy focused on attracting tech talent, capital

The Government of Alberta has unveiled its new innovation strategy, which outlines how the province plans to strengthen its tech sector and diversify its energy-reliant economy.

The five things every Security Operations Centre manager needs to know

The focus of an SOC manager is broad risk mitigation: ensuring regulatory and legal compliance, controlling business-essential risks such as encryption or personally identifiable information (PII) protection, and balancing taking action to lower risk with both company risk tolerance and available resources.

Latest Funding, Acquisitions, and Layoffs

  • VAN – MeetAmi – $36.5M (read more)

  • EDM – DrugBank – $9M (read more)

  • MAR – VentureLab secures $2.5M from Government of Ontario (read more)

  • TOR – Boxhub – $2.7M (read more)

  • TOR – Wavy – $2.5M (read more)

  • TOR – Equity Homes – $2.1M(read more)

  • MTL – Dialogue to acquire Tictrac (read more)

  • MTL – Scale AI invests $24M in five AI supply chain projects (read more)

  • MTL – Emma – $6M(read more)

  • MTL – Hookdeck – $2.65M(read more)


“I both love and hate this question.”

BetaKit Associate Editor Meagan Simpson joins for her second AMA episode to answer a complex bunch of listener questions: what did the New York Times get wrong about Toronto tech? Is the Globe anti-competition? What should the banks do with their excess profits? What are the dangers of troll capital?


“What’s it like when an app doesn’t just connect you to a doctor… it’s the medicine?”

A4i’s Amos Adler and Dr. Sean Kidd join to discuss the difference between telemedicine and digital therapeutics, supporting complex mental health challenges with an app, and the struggles of Canada’s healthcare system.

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Cameron Chaddad

Cameron is a fourth-year journalism student at Carleton University, with a minor in business. Originally from Ottawa, ON, his family roots are both Italian and Lebanese.

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