Canadian startup news of the week (6/20/21)

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


One year after joining RBC, Sid Paquette reveals his plans to disrupt innovation banking with RBCx

RBCx claims it differs from competitors through its operational focus, providing the hands-on support often seen at venture firms, in addition to a suite of products and services outside of financing options.


ApplyBoard raises $375 million CAD Series D at $4 billion valuation

The Kitchener-Waterloo-based startup claims the new financing gives it a post-money valuation of $4 billion CAD ($3.2 billion USD), double that of the company’s $100 million Series C round in May 2020.


VerticalScope upsizes IPO to $125 million, begins trading on TSX

Initially, VerticalScope sought to raise only $100 million through the IPO, but the firm boosted the size of its offering to $125 million.


Amplitude Ventures’ precision health fund exceeds $200 million target following final close

Amplitude is a spin-out of BDC, which notably provided the largest capital commitment to Amplitude’s fund in 2019.


Introhive raises $121.3 million CAD after nearly doubling revenue during pandemic

This sizable raise comes after a year of growth for Introhive, which claims the COVID-19 pandemic highlighted the market need for its offering.


Employee wellness software firm LifeSpeak files for TSX IPO

In September, LifeSpeak raised a $42 million equity investment in its first institutional round of financing, led by Round13 Capital.


Latest Funding, Acquisitions, and Layoffs

  • OTT – Shopify acquires $350M stake in Stripe (read more)

  • OAK – Moonshot Brands – $160M (read more)

  • SF – Nylas – $120M (read more)

  • MON – StreamingFast (formerly Dfuse) – $73.5M (read more)

  • WAT – SkyWatch Space Applications – $21M (read more

  • TOR – Browze – $15.2M (read more)

  • TOR – PlanetCorp acquires Nugget.ai (read more)

  • VAN – Kovo HealthTech to acquire MIdwest Medical Billing (read more)

  • TOR – Modern Campus acquires DIGARC (read more)

  • TOR – DeFi Technologies acquires stake in SDK:meta (read more)

  • VAN – Bubblebox acquired by VntCap Technologies (read more)

  • QUE – OSF Digital to acquire Werise (read more)


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RAY WALIA KNOWS IT’S VANCOUVER TECH’S MOMENT TO LOSE

Launch Ventures CEO Ray Walia and VRARA Vancouver President Dan Burgar join to discuss Vancouver tech: with excitement, optimism, and foreboding.


WHY HEIRLUME WANTS TO BECOME THE GODADDY OF TRADEMARK REGISTRATION

Heirlume co-founder and CEO Julie MacDonell explains the Byzantine process of trademark registration and the potential risks for startups.


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Josh Scott

Josh Scott

Josh Scott is a BetaKit staff writer who loves to tell Canadian business and tech stories. His coverage is more complete than his moustache.