RenoRun files for creditor protection after failed pursuit of “Hail Mary” deals to save company from insolvency
The filing follows four attempts to raise bridge financing and multiple rounds of layoffs.
Canadian Startup News
Carbon Neutral Club secures $1.4 million to incentivize employees to help companies meet climate targets
Startup sees employee action as missing piece for orgs looking to reduce emissions.
Canadian government ups semiconductor focus, invests $36 million in Ranovus
Ranovus investment part of a $100-million project to advance Canadian semiconductor manufacturing, production.
Ontario budget gains kudos for streamlining procurement, increasing access to skilled talent
“Minister Bethlenfalvy and the Ontario government has listened to many of our members’ concerns.”
Valhalla Private Capital partners with Plug and Play Alberta to boost exposure of startup companies to investors
Plug and Play opened its first Canadian location in 2020.
UBC, BC Cancer researchers develop AI model to predict cancer survival rates
The AI model can predict survival outcomes within six months, 36 months, 60 months.
Coveo CEO Louis Têtu wants to take risk out of generative AI
“We’re very confident of our advance here,” says the CEO.
Rewind cuts 27 percent of staff as its growth slows in parallel to Shopify
Amid downturn, e-commerce slowdown, Rewind targets breakeven.
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.