Rewind cuts 27 percent of staff as its growth slows in parallel to Shopify
Amid downturn, e-commerce slowdown, Rewind targets breakeven.
Canadian Startup News
Alberta Innovates invests $30 million into Alberta Machine Intelligence Institute to spur research
New funding will attract investment and create jobs, says innovation minister.
Backed by Mark Cuban-led $2.4 million round, TransCrypts uses blockchain to help Ukrainian refugees access health records securely
TransCrypts is also expanding to help those impacted by earthquakes in Turkey.
Mercator AI raises $5.1 million CAD as it develops early project detection tool for construction
Mercator helps business developers find leads in construction projects faster using AI.
Magnet shareholders approve $1.8 billion Thoma Bravo acquisition as campaign against deal proves unsuccessful
Despite vote, dissenting shareholder says “this is not the end of the road for us.”
Québec budget aimed at stimulating the economy with investments in tech sectors, skilled labour
Cleantech, FinTech, AI, and quantum sciences are getting attention.
Shopify enterprise merchants can now use Google’s AI tools to improve searchability
Google Cloud’s integration increases access to Google’s search and browsing technologies.
Vertu Capital closes first private equity fund with over $300 million
Led by ex-OMERS veteran Lisa Melchior, Vertu is Canada’s first woman-founded PE firm.
Evol receives nearly $10 million from Canadian Economic Development to support diverse Québec entrepreneurs
Diverse businesses are 70 percent more likely to break into new markets.
Noze receives $1 million grant from Bill & Melinda Gates Foundation to build TB- and malaria-detecting breathalyzer
The startup’s digital odour perception platform was used during the COVID-19 pandemic.
Symend reduces team by 25 percent in restructuring, four months after $54 million round
Latest cuts come after Symend laid off 13 percent of staff late last year.
Mila, UNESCO warn against use of AI in “harmful contexts” in joint book on AI governance
Joint book addresses lack of accountability, transparency in AI training models.
Canada Drives undergoing restructuring as it files for creditor protection
“The rising costs of holding inventory…has made this specific business model no longer viable.”
Haply Robotics secures $4.8 million CAD seed round to develop tactile tech used for surgical training, gaming
Funds will go towards fine-tuning Haply’s Inverse3 device.
BBTV among 10 BC orgs receiving total $25.7 million from PacifiCan to help job retention amid tech layoffs
Over 500 jobs are expected to be created from the investment.