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
Minister Bains says extending IRAP IAP "makes a lot of sense" following anticipated CEWS extension(BETAKIT)
IRAP saw a $250 million injection from the federal government through IAP, which has now been fully committed after applications for the program opened and closed in the last weeks of April.
Wattpad notifies users, shares new details of reported data breach(BETAKIT)
Compromised data may involve email addresses, IP addresses, encrypted passwords, survey responses, and purchases.
Coinsquare CEO and president agree to step down, pay "penalties" in settlement with OSC(BETAKIT)
Coinsquare is required to find replacements for its CEO and CCO within 90 days.
MaRS officially launches program developed using federal Scale-Up Platform funding(BETAKIT)
MaRS estimated the companies could reach $7.9 billion in revenue after five years with a 20 percent annual growth rate.
Latest Funding, Acquisitions, and Layoffs
FedDev invests $4.8M in Trent Enterprise Centre (Read here)
City of Toronto commits $250,000 to Black Innovation Fellowship (Read here)
Knockri raises $3M seed round (Read here)
Vision Critical raises $26.7M in growth debt financing (Read here)
Clutch raises $7M seed round (Read here)
RECOMMENDED BY BETAKIT
BLACK SWAN #15 – THE EVOLVING BUSINESS OF PREPARING FOR DEATH(BETAKIT)
Willful is a Toronto-based startup that helps people easily create a legal will. Not the sexiest of startups in normal times, but these are not normal times.
BLACK SWAN #14 – DISRUPTING STARTUP CULTURE AND WHY CANADIAN FINTECHS ARE PISSED(BETAKIT)
Somehow we’re halfway through 2020. Anyone else need a break?
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