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
The Gaza office building housing the team of nine developers from Open Screenplay was destroyed in mid-May on the 10th day of deadly airstrike attacks on the city.
Nuvei filing indicates company may raise up to $1.8 billion USD in new issues, secondary offerings(BETAKIT)
The filing follows a strong first quarter earnings report and a busy few months for the Montréal FinTech company.
“Intellectual property should be a key part of Canada’s innovation strategy, but it’s not the only factor.”
Mphasis has reached a strategic, public-private partnership with the Government of Alberta and the University of Calgary.
Through the fund, AQC and its backers aim to support the development of innovative Québec startups and help accelerate their international growth ambitions.
Mogo first purchased an almost 20 percent stake in Coinsquare in February for $56.4 million CAD.
Latest Funding, Acquisitions, and Layoffs
VAN – Bench – $73M (read more)
VAN – Clir Renewables – $25M (read more)
TOR – Adeptmind – $7.5M (read more)
TOR – Elevate – $5.8M (read more)
TOR – Rocket Doctor – $4.6M (read more)
SK/ON – Eight Saskatchewan, Ontario tech companies receive $4.4M (read more)
SF – Faculty – $3.6M (read more)
MIS – INTELIGHT Innovations – $2.2M (read more)
MON – helloDarwin – $2M (read more)
VAN – Stoko – $1.2M (read more)
HAL – Habit Forming Technologies – $500K (read more)
MON – Zetane Systems – $181K (read more)
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“When you look at the Big Five banks today, they all have the same technology stack, the same products, the same features, and the same fees. There isn’t truly competition.”
Will Shaw, partner and leader of the Toronto Emerging Technology practice group at Fasken, explains the process of going public for Canadian tech companies.
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