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
Liberals' economic snapshot reveals $343.2 billion deficit following COVID-19 relief measures(BETAKIT)
The snapshot also predicts that Canada’s economy will shrink by 6.8 percent this fiscal year before returning by 5.5 percent next year.
Frank And Oak set to close stores, look for buyer or financing as existing investors unwilling to back(BETAKIT)
Shareholders advised Frank And Oak “of their clear intention to no longer fund the losses of the company.”
The deal volume in Q1 was the lowest it has been since at least Q3 2018, when Hockeystick began collecting such data.
Facedrive is currently building out its own food delivery platform, Facedrive Foods.
Latest Funding, Acquisitions, and Layoffs
Haivision acquires Teltoo (Read here)
Akerna acquires Ample Organics (Read here)
Senso raises $4M funding round (Read here)
SensorUp closes $6M Series A (Read here)
Ideon Technologies raises $1.3M (Read here)
Nest Wealth receives close to $50M in deal with National Bank (Read here)
FansUnite Entertainment acquires Askott Entertainment (Read here)
Flinks closes $16.2M Series A round (Read here)
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Somehow we’re halfway through 2020. Anyone else need a break?
BLACK SWAN #13 – THE HELP LIST(BETAKIT)
When the pandemic hit in mid-March, within days, so too did the layoffs. Since that time, many organizations have stepped up to support the newly jobless.
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