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
While venture funding stays consistent, BC startup deal count sees Q1 decline(BETAKIT)
Hockeystick’s data is sourced through exclusive partnerships with organizations like the CVCA and NACO, which also released reports this week.
Senate passes changes to 75 percent wage subsidy(BETAKIT)
The federal government has also announced its intention to shift recipients of CERB to the EI program beginning in September, as well as extending commercial rent relief through August.
Elevate cancels 2020 tech festival, secures $5 million to launch new global innovation hub(BETAKIT)
The Toronto tech festival is launching a new social innovation exchange offering year-round programming to the Canadian innovation ecosystem.
Shopify revenue grows 97 percent in Q2 2020 as large number of retailers join platform(BETAKIT)
The large increase in revenue came as the number of new stores created on Shopify grew by 71 percent between Q1 2020 to Q2.
Latest Funding, Acquisitions, and Layoffs
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Fable Tech Labs raises $2M seed round (Read here)
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Wingocard closes $2M seed round (Read here)
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Conexiom raises $40M in strategic growth financing (Read here)
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StellarAlgo closes $1.5M seed extension (Read here)
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Dialogue raises $43M round (Read here)
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>BC RDA invests $2.95M in Innovate BC (Read here)
RECOMMENDED BY BETAKIT
CANADIAN GOVERNMENT OFFICIALLY LAUNCHES COVID-19 “EXPOSURE NOTIFICATION” APP(BETAKIT)
Notably, the federal government is adamant that its application is an exposure notification app, not a contact tracing app, explaining that users are de-identified and locations are not tracked.
BLACK SWAN #16 – MINISTER BAINS EXPLAINS THE FEDS’ COVID-19 RESPONSE(BETAKIT)
“We want to be bold, we want to think big, but we want to be flexible and nimble as well.”
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.
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