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Aviron scores $23.6 million CAD Series A round to make rowing fun (BETAKIT)
The Toronto-based fitness tech startup combines gaming with high-intensity interval training, describing its offering as a “gaming-led, smart rowing machine.”
New unicorn on the block: Somatus hauls in $325M+ to grow its value-based kidney care model (MED CITY NEWS)
The funding round was led by Wellington Management. The company sees its approach as a break from the industry’s “disproportionate” focus on dialysis, which is used to treat people with kidney failure.
BC’s budget strong on cleantech; Alberta positions itself as major tech hub (BETAKIT)
While BC’s NDP government focused on its debt, Alberta’s Conservatives expected to post a healthy surplus in the coming year.
Canadian tech firms with Ukraine offices struggling to get employees out of country as Russian forces advance (THE GLOBE AND MAIL)
Canadian tech firms with offices and employees in Ukraine are trying to help staff flee the country amid the intensifying Russian invasion, but efforts to get them access to Canada have so far largely gone nowhere. The war has had wide-ranging impacts on Ukraine’s tech ecosystem. Many commonly used products and technologies have Ukrainian roots. The country also houses a booming tech outsourcing sector that has been put at risk by the ongoing conflict.
LifeSpeak to acquire digital fitness platform Wellbeats for up to $117.9 million CAD (BETAKIT)
LifeSpeak is also funding the acquisition through subscription agreements with a group of investors led by Beedie Capital, with Scotia Capital Inc. and Roth Canada and ULC as agents.
Hims & Hers 2021 revenue jumps 83% as company expands retail collaborations (FIERCE HEALTHCARE)
The consumer telehealth and wellness brand’s full-year revenue jumped 83% year over year to $272 million compared to $149 million in 2020.
Justice dept. sues to block $13 billion deal by UnitedHealth Group (NEW YORK TIMES)
The agency’s lawsuit against the deal for a health technology company is the latest move by the Biden administration to quash corporate consolidation.
Paramedic tech provider Prehos secures $7.2 million in seed funding (BETAKIT)
Prehos’ platform aims to improve the delivery of pre-hospital emergency and home care.
Omada Health raises $192M in Series E funding and Verily’s Onduo snags a payer partner (MED CITY NEWS)
Omada got funds from two new investors – Fidelity Management & Research Company and aMoon as well as existing ones.
Cyclica spins out startup, Perturba Therapeutics, from University of Toronto (BETAKIT)
“We created Perturba to combine our two approaches to drug discovery for many types of cancers that are really recalcitrant to other techniques,” said Naheed Kurji, co-founder, CEO and president of Cyclica.
India-based virtual health company MediBuddy nabs $125M in Series C funding (MOBIHEALTHNEWS)
The company offers telehealth services and at-home lab testing.