Canadian startup news of the week (7/26/20)

navdeep bains

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

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

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

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

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)


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Caitlin Hotchkiss

Caitlin Hotchkiss

Content coordinator, social media smartypants, wordsmith, Human Workflow™. Exists primarily on coffee, cat pictures, German dance metal, and pro wrestling. I will fight for your right to the Oxford comma.