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
ABCELLERA RECEIVES $300 MILLION IN COMBINED GOVERNMENT FUNDING FOR BIOTECH CAMPUS
Vancouver-based AbCellera will receive $300 million through the Strategic Innovation Fund to upgrade existing facilities throughout Vancouver and to develop a “state-of-the-art” biotech campus featuring a preclinical antibody-development facility.
BENCHSCI CLOSES $95-MILLION CAD SERIES D TO EXPAND AI DRUG-DISCOVERY PLATFORM
Toronto-based BenchSci, which helps pharmaceutical firms accelerate research and development using artificial intelligence, has secured $95 million CAD in Series D funding.
EVALUATING UCP AND NDP PLANS FOR TECH AS ALBERTA’S ELECTION DAY APPROACHES
Advance polling for the 2023 Alberta general election has already begun. What’s on the table for the province’s tech sector?
SHOPIFY EXTENDS POINT-OF-SALE HARDWARE TO CANADIAN RETAILERS AFTER INITIAL US LAUNCH
Shopify is making its point-of-sale hardware solution available to Canada as part of its broader product strategy for both online and offline commerce.
SUMMER CAMP FOR CANADIAN TECH IS BACK: STARTUPFEST RETURNS JULY 12-14
Use this BetaKit-supplied 15 percent discount code for your Startupfest tickets so we can see you in Montreal!
AS NASDAQ DELISTING LOOMS, ASSET MANAGEMENT FIRM MCLOUD LOOKS TO GO PRIVATE
With tightening equity markets, low-volume trading, and other macroeconomic factors, Calgary-based cloud service provider mCloud has explored the option of going private to navigate the downturn.
CODE FOR CANADA ED: LAID-OFF TECH EMPLOYEES ARE OVERLOOKING OPPORTUNITIES IN PUBLIC SERVICE
Code For Canada’s Dorothy Eng argues that tech professionals would enjoy the challenge of designing solutions for everyone in Canada, not just those who can afford them.
“THERE’S A REVOLUTION IN THE WINGS”: WHY CANADA’S SEMICONDUCTOR INDUSTRY NEEDS AN OVERHAUL
Niraj Mathur, co-founder of Blumind, discusses his experience building a deep-tech company in Canada and why he feels the semiconductor industry is due for an all-out revolution.
Latest Funding, Acquisitions, and Layoffs
-
VAN – Cognosys – $2M (read more)
-
LON – Locorum – $1.2M (read more)
-
TOR – Spellbook (formerly Rally) – $10.9M (read more)
-
TOR – Wingmate – $1M (read more)
-
MTL – Novisto – $27M (read more)
The BetaKit Podcast
A WAKE FOR BUZZFEED, GAWKER, VICE, WITH CANADALAND'S JONATHON GOLDSBIE
“That is a deeply unhealthy way to live and to work and it’s ultimately not a successful way to sustain a publication.”
CANADALAND news editor Jonathan Goldsbie joins to discuss the rampant demise of digital media publications launched in the 2000s and how they compare to the slow death of traditional media. Advice for aspiring young journalists comes mixed with an investigation of the ideal media business model in 2023.
WHAT’S NEXT FOR SHOPIFY?
“This announcement communicated two things: this thing we’re getting rid of isn’t primary to our mission—it’s a side quest, we don’t actually care about this; and we have a cultural problem at our company with who we’ve hired and what they’re focused on.”
Madeline Stone, retail and e-commerce writer for Business Insider, joins to discuss the future of Shopify’s “main quest” after cutting staff and selling off its logistics division.
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.