Canadian startup stories of the week (05/13/17)


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


Wealthsimple raises $50 million in funding, announces $1 billion in assets under administration

The Toronto-based FinTech company has raised $100 million to date.


Alphabet reportedly considering Toronto as site of urban innovation-focused Sidewalk Labs

Alphabet responded to a recent city request for proposals to revitalize the city’s waterfront.


OMERS Ventures closes $300 million third fund

OMERS Ventures currently has $800 million of assets under management.


Flashfood launches with Longo’s in Toronto to alleviate food insecurity

The company ran a pilot with London-based Farm Boy in January, and said that they’ve diverted over 1,200 meals from a landfill.

Startup Milestones

  • Thymox raises $4.6 million Series B funding for international expansion of biodegradable disinfectant (Read here)

  • Attendease raises seed round led by 500 Startups Canada (Read here)

  • Adventure tech startups ShareShed and Guiides acquired by Leavetown (Read here)

  • Flexiti Financial appoints COO and CRO to its executive team (Read here)

  • Lightspeed launches Lightspeed Analytics to give retailers insights and recommendations on sales, inventory (Read here)

Must Reads


PwC MoneyTree report: Q1 deal activity hits 2015 low, while foreign investment heats up

Deal activity dropped 25 percent through the quarter from Q4 2016, with deals in Q1 2017 hitting the lowest figure since Q3 2015.


Ask an Investor: What should I look for in my first external sales hire?

As you build up your product and gain traction with customers, it’s time to start thinking about expanding the sales function of your business

CANCON PODCAST EP. 66: Tech jobs are the best jobs + getting more women on boards

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Amira Zubairi

Amira Zubairi is a staff writer and content creator at BetaKit with a strong interest in Canadian startup, business, and legal tech news. In her free time, Amira indulges in baking desserts, working out, and watching legal shows.

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