Canadian startup news of the week (7/18/21)

Vancouver

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


Latest CBRE report shows Canada has some of the fastest-growing tech talent pools in North America

The CBRE report states that over the past five years, some of Canada’s major and emerging tech markets have experienced faster tech job growth than nearly all of its United States counterparts.


Great Hill Partners acquires majority stake in Auvik Networks for $312 million CAD

Prior to securing the $312 million from Great Hill, Auvik had raised just over $50 million CAD total.


Google’s Steven Woods joins Inovia as partner and CTO

Woods will become the ninth partner at Inovia and its sixth in Canada. Earlier this year, the firm raised $450 million USD for its second growth stage fund to build off the success of Lightspeed.


B.C. Centre for Innovation and Clean Energy to launch in fall with $105 million in funding

The Government of Canada’s $35 million commitment to the centre was part of its 2021 budget commitments and comes through Natural Resources Canada’s Energy Innovation Program.


Float secures $5 million seed round to make corporate credit cards less of a headache

Float is looking to use its newfound capital to “aggressively invest in product development, hiring, and growth.”


Latest Funding, Acquisitions, and Layoffs


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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.”


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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.