Wattpad lays off 15 percent of workforce
Interim president says cuts come despite best efforts to limit economic impact.
Canadian Startup News
Magnet shares independent advisor report recommending $1.8 billion acquisition as some shareholders push to halt deal
One of Magnet’s largest investors says $1.8 billion price tag “simply too low.”
Dwindling tech deal volume remained a thorn in the Waterloo Region’s side in 2022
Venture funding in Waterloo Region dipped from 2021 peak, but still surpassed pre-bull market years.
Daily Blends raises $2.7 million CAD, signs Metrolinx deal to deploy smart vending machines
Healthy vending machines are coming to public transit stations, college campuses across Canada.
Six months after petition launch, federal minister calls market benefits plan “essential” to Global Talent Stream visa
Employees at VanHack, Hopper, Dapper Labs, others signed a petition that calls the plan “cumbersome.”
Cohere among first investments from Salesforce’s new $250 million AI fund
Salesforce invests in Toronto startup as part of broader generative AI strategy.
Loopio, Reelhouse co-founders launch Barley to help make employee compensation easier, more equitable
Golden Ventures-backed Barley has raised $5.4 million CAD to date.
Adaptis secures $2 million CAD to help building owners move to net zero with AI
“Using deep tech to do deep decarbonization is really where we think the gap is.”
Drug discovery startup Congruence Therapeutics closes $20 million CAD extension of Series A
BDC Capital’s Thrive Venture Fund joined to lead the extension.
Toronto venture funding saw a “return to sanity” in 2022
Toronto tech startups raised a collective $3.7 billion through 154 deals in 2022.
Uplinq partners with World Bank Group-linked global network to educate on financial inclusion
FinTech recently raised $820,000 CAD for its global credit assessment platform.
Able Innovations strikes deal with Ottawa hospital for robotic patient transfer tech
Able Innovations’ robotic medical device addresses problem of patient transfers.
Semiconductor firm GaN Systems to be acquired by Infineon for $830 million USD
GaN Systems CEO says Infineon will enable company “to unleash our full potential.”
Lightspeed COO Brandon Nussey to depart in latest C-suite shakeup
The COO is the latest in a string of exec changes at Lightspeed.
How to build a diverse talent ecosystem for Canada
The race for tech talent is on, and it’s global.