Canadian startup news of the week (8/22/21)

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

Coinberry second crypto asset dealer to receive regulatory approval by OSC(BETAKIT)

The decision comes almost one year to the day after Canadian FinTech leader Wealthsimple received the first such order.

Aux Caves FinTech latest target as Canadian securities commissions continue to crack down on crypto asset firms(BETAKIT)

The OSC previously issued a warning to crypto asset trading platforms that they must contact OSC staff or face potential regulatory action.

Neo Financial prepares to open innovation hub in Winnipeg(BETAKIT)

Dayna Spiring, president and CEO of Economic Development Winnipeg, told BetaKit, “It’s a great day,” adding that Neo’s choice to lease in the city continues to build out Winnipeg’s tech sector.

Hopper secures $175 million in Series G funding(BETAKIT)

The round comes nearly five months after Hopper secured $170 million USD in Series F financing.

theScore bets big on new office space in downtown Toronto(BETAKIT)

Despite its pending acquisition by Penn National Gaming for approximately $2 billion USD in a cash and stock deal, theScore will operate as a stand-alone business.

Canada Drives secures $100 million CAD Series B, plans Alberta expansion(BETAKIT)

Even as it expands, Canada Drives faces competition across Canada, including from Toronto-based Clutch.

Ontario, Michigan collaborating on advanced automotive and mobility technology(BETAKIT)

Combined, Ontario and Michigan are responsible for about 22 percent of North America’s automotive output.

Latest Funding, Acquisitions, and Layoffs

  • VAN – iQmetrix acquires Shiftlab (read more)

  • BUR – Nanotech Security to be acquired by Meta Materials (read more)

  • CAL – ICwhatUC – $1.3M (read more)

  • SUD – Symboticware – $2.8M (read more)

  • ON – NGen invests in $4.2M CAD Mycionics-led project (read more)

  • TOR – Kira Systems to be acquired by Litera (read more)

  • TOR – Aviron – $4.5M (read more)

  • TOR – Buildable – $3.76M (read more)

  • TOR – Shopistry – $2M (read more

  • TOR – Softdrive – $1M (read more)

  • NL – Ocean Supercluster invests in $3.4M PanGeo Subsea-led project (read more)



Breaking news: we’re in the middle of a climate crisis. And to get ourselves out of it we’re going to have to dramatically reduce our environmental impact.


“Canada is three telecom companies in a trenchcoat.” There’s also a looming Canadian election, throwing all policy decisions and progress up in the air.

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Josh Scott

Josh Scott

Josh Scott is a BetaKit reporter focused on telling in-depth Canadian tech stories and breaking news. His coverage is more complete than his moustache.

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