Canadian tech hubs not immune to downturn as Communitech lays off 10 percent of workforce
Innovation hub sees second significant staff reduction since 2019 provincial budget cuts.
Canadian Startup News
OMERS Ventures’ Laura Lenz says “ego raising” is over in #CDNtech
VC says “there’s blame on both sides” for the lack of fundamentals in 2021.
One year after raising $6.5 million, GoodGood shuts down claiming it can’t find more money
Company says downturn has had “dramatic impact” on its rapid local commerce delivery business.
Federal government’s Climate Action and Awareness Fund invests $58 million into 24 cleantech projects
Volkswagen fines fuel climate projects at Canadian universities.
Wiseday enters Canada’s digital mortgage space with “instant” pre-approval process
Wiseday is led by RenoRun, Hopper, Ssense, Ubisoft, Nesto alumni.
How electrifying transportation could surge Ontario’s economy
CITM Director calls Ontario the only place in North America that has the entire battery supply chain.
Acerta closes $10.4 million CAD Series B to help automakers like Nissan and GM build car parts more efficiently
Acerta puts pedal to the metal and targets North American, European expansion.
WorkJam closes $50 million USD round co-led by Inovia, Fonds FTQ
WorkJam’s platform is geared towards supporting the frontline workforce.
Legal tech startup Clio advances its FinTech play with launch of payments product in Canada
Clio claims to have processed over $1 billion USD in legal transactions.
L-Spark’s Leo Lax: 2022 has been a “disaster” for SaaS funding, though sector continues to grow
“The bias is less towards building the innovation economy, more towards sustaining what we got.”
Yield Exchange nabs $110,000 after winning both SAAS NORTH 2022 pitch competitions
The Vancouver startup provides an online marketplace for guaranteed investment certificates.
FTX fallout could set back investment in Canadian crypto companies for years, experts say
“Gone are the days of not doing full due diligence.”
Bold Commerce swaps CEOs, bringing on PayPal, Intuit alum Peter Karpas
Karpas took the reins from Bold co-founder Yvan Boisjoli last month.
The painful changes that helped GSoft scale from zero revenue to $100 million ARR
Building a generational company means continually evolving.
Teralys receives $40 million from CDPQ in re-up for seed-stage fund of funds
The seed fund of funds comes in addition to Teralys raising a new VCCI-backed fund.