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
Indigenous venture firm Raven Capital eyes US market as it secures $46 million for second fund
“This is a really tough environment to raise [in], and a lot of investors are slowing down right now across the board,” Raven Capital managing partner Paul Lacerte told BetaKit.
Shopify rolls out new employee compensation system to recruit, retain talent amid stock slump
Shopify has finally introduced its new compensation system, Flex Comp, which allows Shopify employees to adjust the breakdown of their pay between cash and equity.
SkipTheDishes lays off 350 employees following global workforce review by parent company Just Eat
SkipTheDishes has laid off 350 employees, with its parent company citing a need to ensure sustainable growth. With a staff of more than 3,000 employees, according to LinkedIn, the cuts account for approximately 11 percent of SkipTheDishes’ workforce.
Idealist Capital secures $250 million initial close for new climate impact fund
Led and created by Québec business veterans Pierre Larochelle and Steeve Robitaille, Idealist wants to invest in tech companies focused on the decarbonization of power systems, industries and the circular economy, as well as electric vehicles.
Communitech acquires Briefed.in to add data-backed insights to its repertoire
Communitech CEO and president Chris Albinson told BetaKit in an interview that the purchase of Briefed.in is about extending the capabilities of a “data engine” that the hub has been developing with the goal of better understanding how it can support startups.
Startup syllabus: how Dal Innovates embraced innovation education in Atlantic Canada
Halifax’s Dalhousie University (“Dal”), through its award-winning program Dal Innovates, is working to provide this education with multiple programs that encourage and support academics considering or otherwise joining the innovation economy.
Latest Funding, Acquisitions, and Layoffs
SF – Goldsky – $20M (read more)
RIC – Ideon Technologies – $21M (read more)
REG – Protein Industries Canada – $30M (read more)
KIT – ProNavigator – $10M (read more)
TOR – Composer – $6M (read more)
TOR – GrowerIQ – $3M (read more)
HAL – The Rounds – $5.1M (read more)
HAL – Bright – $1.45M (read more)
EXPLORING THE CITY GOOGLE COULDN’T BUY
“This is the rise and fall of a company that had hundreds of millions of dollars to play with and nothing left to say about it.”
Globe and Mail reporter Josh O’Kane joins to discuss his new book, Sideways: The City Google Couldn’t Buy.
CANADIAN TECH IS (STILL!) HIRING
“I’m just concerned about finding tech talent.”
Nora Jenkins Townson (Bright + Early) and Meagan Simpson (BetaKit) join to explain why over 350 companies are still looking to hire Canadian tech talent in the midst of a downturn.
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