Svante gets $137-million CAD commitment from Canada Growth Fund
The funding will be used to support the development of Svante’s carbon capture and removal projects.
Canadian Startup News
Paper CEO Phil Cutler out, startup cuts 45 percent of HQ staff and all Canadian tutors
Startup sees fourth round of layoffs within a year as EdTech veteran Rich Yang becomes interim CEO.
Sampler files for bankruptcy
Documents show digital product sampling startup has nearly $13 million in liabilities.
Well Health plans to spin out, publicly list SaaS and services business in 2025
Founder and CEO Hamed Shahbazi said spin out will unlock “significant shareholder value.”
Radical Ventures launches $800-million USD AI growth fund
New fund marks Toronto-based Radical’s first that focuses on later-stage AI companies.
Canadian VC investment grows in Q2 but seed funding a cause for concern
CVCA report says PE stays hot as public Canadian tech firms keep going private.
Feds inject $39.2 million into digital literacy program CanCode with renewed focus on AI
CanCode phase four aims to teach digital and AI skills to 1.5 million students and 100,000 teachers.
IRCC takes over sole administration of Start-up Visa Program from NACO, CVCA
IRCC chooses not to renew contracts with industry associations responsible for vetting SUV delivery organizations.
CruxOCM closes $23.3-million CAD Series A led by Microsoft’s venture fund
Investment empowers CruxOCM to bring co-pilot to more energy sector control rooms.
Kraken appoints Alex Mehrdad as new leader of crypto exchange’s Canadian operations
Mehrdad succeeds Mark Greenberg, who was recently promoted to a new global role.
Targeted by activist investor, Bitfarms chairman and co-founder Nicolas Bonta steps down
The board shakeup follows Bitfarms adopting a second ‘poison pill’ after its first was struck down.
BC Securities Commission panel finds crypto platform ezBtc diverted one-third of customer funds to gambling, personal accounts
In one case, BCSC found that a customer’s bitcoin deposit was transferred to a gambling website within 14 minutes.
NGen invests $21.4 million across quantum, space, and EV manufacturing projects
Nord Quantique, Mission Control, among project partners supported by the federally backed innovation cluster.
Marketing platform MaxBounty acquired by German ad firm Mrge
MaxBounty is the second Canadian company acquired by a Mrge in just over a year.
Feds reveal new changes to Canadian Entrepreneurs’ Incentive as part of capital gains tax overhaul
Government proposes to cut the incentive’s rollout period in half.