Canadian startup news of the week (7/17/22)

Worker checking package at Shopify fulfillment centre.
Plus: Meet Startup Atlantic.

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


Shopify completes acquisition of Deliverr, plans launch of two-day and next-day delivery service

As the two consolidate, Shopify and Deliverr will be working together to launch Shop Promise, a new service that will offer consumers two-day and next-day delivery options.


Atlantic Canadian innovation players launch new Startup Atlantic brand at Startupfest

Startup Atlantic is a new, Atlantic Canada Opportunities Agency (ACOA)-funded initiative. The brand brings the four Atlantic Canadian provinces—Newfoundland and Labrador, New Brunswick, Prince Edward Island, and Nova Scotia—together under one roof.


Permalution, Magnestar, Ohh! Foods among winners of Startupfest 2022 pitch competitions

All three of the $100,000 investment prizes—Best of the Fest, Women in Tech, and the Black Entrepreneur award—were won by women founders. The Business Development Bank of Canada (BDC) announced at the event that it is matching each of the prizes for all of the respective winners.


Toronto, Vancouver tech talent pools saw highest growth in latest CBRE report

Toronto and the Waterloo region, along with Seattle, were among the top five most concentrated tech markets, ranging from 9.6 percent to 10.3 percent of their total employment.


Hackers are smart but lazy. Here’s how startups can take advantage

When multi-factor authentication became widely available, many believed it was enough to stop all hacker attacks. Now, even multi-factor authentication is being targeted by hackers.


Latest Funding, Acquisitions, and Layoffs

  • EDM – Truffle – $2.3M (read more)

  • EDM – Startup TNT participants secure collective $1M (read more)

  • WAT – Proto – $5.6M (read more)

  • TOR – Ratehub sells majority stake to Novacap (read more)

  • COB – Northumberland CFDC secures $7.7M from feds (read more)

  • OTT – Spiderwort – $17.1M (read more)

  • OTT – Welbi – $3M (read more)

  • MTL – Bravo Ready – $3.9M (read more)

  • HAL – Milk Moovement – $26M (read more)


SOLVING THE LACK OF ACCESS TO CAPITAL FOR INDIGENOUS ENTREPRENEURS

“Trust, and Indigenous impact measurement, and the wellbeing of Indigenous families sit alongside risk and return.”

Raven Capital Managing Partner Paul Lacerte explains how the firm invests in Indigenous impact entrepreneurs in a culturally safe way.

INSIDE ANTHONY LACAVERA’S FIGHT FOR FREEDOM MOBILE

“The worst outcome for Rogers is an actual real competitor, which is what we are. They know we’re going to bring prices down and they don’t want prices to come down.”

Globalive co-founder and chairman Anthony Lacavera shares why he was forced to sell Wind Mobile, and explains why it’s so hard to repurchase it now as Freedom Mobile as part of the (contested) Rogers / Shaw merger. Welcome to Competitiontown.

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Michael Edgar

Michael Edgar

Michael is a multimedia journalist and Carleton Journalism alumni working out of Ottawa and Montreal. Follow him on twitter @mwedgar.

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