Canadian startup news of the week (9/06/21)

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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


Toronto tech smashed venture funding records in Q2 with $1.46 billion raised

Toronto was one of four Canadian tech markets to set funding records in Q2 2021, along with BC, Waterloo Region, and Montréal (Calgary? Not so much). The quarter helped push H1 investment to its highest levels.


WELL Health to acquire majority stake in US-based digital pharmacy startup Wisp

A flurry of communications today between WELL Health, its external representatives, and Canadian media suggest an approach that threatens to overshadow the company’s news.


New York-based FinTech startup Jeeves announces $71.6 million CAD, expansion into Canada

“Our goal is to get to 30 to 40 people in Canada across Vancouver and Toronto, so we’re hiring pretty aggressively,” Jeeves’ Dileep Thazhmon, told BetaKit.


Gatik raises $107 million CAD Series B round, announces Texas expansion

Along with the funding announcement, Gatik has revealed plans to expand its operations in Texas, where it intends to establish “a long-term presence.”


Liberals and Conservatives both promise to introduce open banking on election trail

The Liberal Party has also released its platform, promising SR&ED reform and $2 billion for an advanced research agency.


High rate of mental health conditions in women entrepreneurs “alarming,” reports FLIK study

Titled the 2021 FLIK Mental Health of Female Founders Report, the study reveals a lack of work-life balance for female entrepreneurs, and the toll it takes on them.


Latest Funding, Acquisitions, and Layoffs

  • VIC – Audette – $1M (read more)

  • VAN – Fresh Prep – $21M  (read more)

  • VAN – D3 Security – $18.9M (read more)

  • ON – FedDev Ontario commits $12M to OneEleven, new Waterloo-London healthtech hub (read more)

  • TOR – Emerge Commerce to acquire BattlBox, Carnivore Club (read more)


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HOW CANADIAN TECH TOOK OVER THE TSX

TMX group’s Dani Lipkin joins to explain why the first half of 2021 is already the best year ever for Canadian tech companies on the TSX, and why it took so long.


WHY TEKSAVVY IS PISSED AND THE CRTC DOESN’T SEEM TO CARE

For Hot Pod Summer, the BetaKit Podcast answers listener questions about TekSavvy, the CRTC, Shopify, the upcoming election, and more!


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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.