Canadian startup news of the week (10/30/22)
Plus: Placing future bets on Shopify and Wealthsimple.
toronto
CIFAR appoints 8 new AI chairs as Pan-Canadian Artificial Intelligence Strategy enters phase two
CIFAR is responsible for implementing the $443 million federal AI strategy.
Telus International to acquire product development shop WillowTree for $1.2 billion USD
WillowTreeâs clients include Fox, CBC, PepsiCo.
After two quarters of sluggish growth, Shopify increases revenues in Q3 2022, but eyes future quarters for road to recovery
Shopify share price rises along with reports of increased revenues in third quarter results.
Albertaâs tech winter arrived late but in earnest in Q3 2022
2022 has still already surpassed the previous three years in Alberta venture funding.
RenoRun lays off 43 percent of staff to extend runway as inflation rises and consumer confidence falls
RenoRun founders: âThe business climate we are operating in has fundamentally changed.â
Cinchy closes $19.7 million CAD Series B to make data integrations obsolete
Forgepoint-backed Cinchy sees room to grow as firms cut costs.
Float quadruples revenue YoY despite increased competition, choppy economy
CEO: âIn terms of new entrants, we’re clearly the fastest-growing and the largest.”
Wealthsimple becomes first regulated Canadian crypto platform to offer staking
âWe continue to push the boundariesâŠand have lots more in store.â
WonderFi swaps CEOs, plans hedge against crypto volatility with stock trading and sports betting
New CEO brings operational experience as WonderFi looks to diversify beyond crypto to find new revenue streams.
Québec venture funding faced a perfect storm in Q3 2022
A flurry of headwinds pummeled QuĂ©becâs tech sector into its lowest investment quarter in three years.
Manzil launches âthe Halal version of Wealthsimpleâ for Muslim Canadians
Manzil aims to help Muslims balance financial needs and religious requirements.
A|I: The AI Times – Can this Element AI co-founder fix the Internet?
Plus: Google in talks to invest $200 million into Cohere.
Graphite Ventures appoints Omi Velasco as principal to lead Western Canada deals
Graphite now has local investment team members in Calgary, Waterloo, Ottawa, and Toronto.
Waterloo Region venture deal volume continued to slump in Q3 2022
Early-stage deals were nowhere to be found. So what comes next?