Canadian startup news of the week (8/02/21)

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


Maple looks beyond public markets for growth and scale

In an interview with BetaKit, Maple co-founder and CEO Dr. Brett Belchetz laid out his vision for the company, including continued expansion into the United States and becoming an all-in-one platform for virtual care.


Shopify surpasses $1 billion quarterly revenue milestone in Q2 2021 results

Recently Shopify has also ramped up its investment efforts, buying stakes in Loop and Stripe.


How StarSpec is building the bits to get us to space faster

With the cost of a space launch lower than ever before, commercial and scientific interest in space is at an all-time high.


1Password claims $2.5 billion CAD valuation in new round as investors rave about “generational security software business” opportunity

The financing gives Toronto-based 1Password a $2.5 billion CAD ($2 billion USD) valuation, doubling the startup’s prior $1 billion USD valuation after its last raise.


Deep Genomics secures $226 million CAD led by SoftBank as it scales AI drug discovery platform

The round brings Deep Genomics total funding to date to around $302 million CAD.


Antler eyes $30 million fund as part of Canada expansion

Earlier this month, BetaKit was first to report that Antler had added Naman Budhdeo as its Antler Canada partner and lead as it looks to start making investments in the country by 2022.


Latest Funding, Acquisitions, and Layoffs

  • TOR – Lumira Ventures closes two life sciences funds worth total of $320M (read more)

  • TOR – Voiceflow – $24.9M (read more)

  • TOR – Firmex acquired by Datasite (read more)

  • TOR – Notch – $12.5M (read more)

  • TOR – ChainSafe Systems acquires Node Factory (read more)

  • TOR – Covience to be acquired by Angel Oak (read more)

  • OAK – Novamera – $5M (read more)

  • HAM – Obie acquired by Lessonly (read more)

  • GUE – LifeLearn Animal Health acquired by ProSites (read more)

  • OTT – Versaterm acquires SPIDR Tech (read more)

  • MTL – Silofit – $15.25M (read more)

  • MTL – SquareFeet.ai acquired by pair of appraisal firms (read more)

  • NL – Kraken Robotics – $10M (read more)

  • CAL – Cold Bore Technology – $14M (read more)

  • EDM – QuoteToMe – $2.5M (read more)

  • VAN – Digital Technology Supercluster announces $20 million Wellbeing.ai project (read more)

  • VAN – Spark RE Technologies – $6.2M (read more)

  • BUR – Clio acquires CalendarRules (read more)


RECOMMENDED BY MCI ONEHEALTH

How tech can promote a collaborative, patient-centric approach in healthcare

“Innovation is not just about technology. It’s the mechanism by which you organize and sequence how you actually deliver healthcare, and how to actually understand the patient-doctor relationship.”

In an interview with BetaKit, Saleema Khimji, the Chief Innovation Officer at MCI Onehealth, shared how the current siloed ecosystem of researchers, governments, and private sector companies can fail patients – and why a new patient-centric model based on collaboration needs technology to thrive.


BOAST.AI’S LLOYED LOBO SHARES THE TRUE COST OF ENTREPRENEURSHIP

“There’s no bigger board meeting than you staring in the face of death in the hospital. Death has all the leverage.”


HOW VULNERABLE IS CANADA TO CYBERATTACKS?

How critical infrastructure gets protected has changed a lot in the last 20 years. So have the potential vulnerabilities.


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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.