Canadian startup news of the week (7/11/21)

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


Clearco secures $268 million CAD in round led by SoftBank

The round, which comes mere months after Clearco raised $125 million CAD of equity financing, accelerates the company’s international expansion plans and overall roadmap by at least one year.


How Loopio went from bootstrapped startup to RFP leader

In April, Loopio closed a $252 million CAD strategic investment, its second external fundraise since being founded seven years ago.


LifeSpeak goes public on TSX, closes $125 million public offering

The move comes after closing a previously announced $90 million initial public offering (IPO) and a $35 million secondary offering.


Non-committal on a banking license, Wealthsimple CEO Michael Katchen says company’s ambitions extend “beyond Canada”

“Our ambitions remain beyond Canada, and certainly we’re excited about other markets in time.”


EDC commits $200 million to new Inclusive Trade Investments Program

“The scope of our support has progressed from its initial focus on women, to now include Indigenous-owned and led businesses.”


Latest Funding, Acquisitions, and Layoffs

  • CAL – FightCamp – $111M (read more)

  • VAN – Active Impact Investments closes $54M climate tech fund (read more)

  • VIC – WeCommerce – $33.7M (read more)

  • MTL – Esplanade HealthTech Ventures closes $21M fund (read more)

  • TOR – VerticalScope – $18.8M (read more)

  • HAM – Enedym – $15M (read more)

  • TO – Ritual acquires AllChecked.in (read more)

  • CAL – Tetra Trust secures funding from Coinbase, Mogo, Coinsquare (read more)

  • VAN – Fobi – $7.4M (read more)

  • HAL – Swarmio – $5M (read more)

  • TOR – Caary – $4.1M (read more)

  • VAN – ReadyMode – $4M (read more)

  • HAL – Side Door – $3.75 (read more)

  • MTL – Empower – $3M (read more)

  • CAL – FREDsense – $2.5M (read more)

  • TOR – Konfidis – $2M (read more)

  • VAN – Plantiga – $1.5M (read more)

  • AB – Seven Alberta startups secure over $1M combined (read more)

  • FRE – 3D Planeta – $1M (read more)

  • VAN – Two Vancouver startups win $150K combined (read more)


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REGULATION PREVENTS THIS CANADIAN STARTUP FROM REDUCING FARMING HERBICIDES BY 90 PERCENT

“In no other industry in the world should you have something representing 30 percent of your costs operate at something like an 80-90 percent inefficiency.
It’s mind-blowing.”


WHEN WILL CANADIAN TECH STOP PAYING PEANUTS? (AMA EPISODE)

“Can we expect that Canadian tech will start paying talent what they’re worth?” Co-hosts Douglas Soltys and Rob Kenedi are joined by producer Kattie Laur to answer listener questions.


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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.