Properly secures $36 million CAD, pulls back on geographic expansion plans as Canadian housing market cools
Provincial expansions across BC, Ontario, and Québec have been pinned in favour of focus on Toronto and Vancouver.
toronto
Tracking the tech downturn across Canada with data
When the party winds down, the hangover is fast to follow.
D2C startups not immune to downturn as Article, Mejuri make staff cuts
Article and Mejuri have cut their workforces by 17 and 10 percent, respectively.
Uberflip CEO attributes company layoffs to “unsteady economy”
Uberflip laid off 31 employees.
Scale Without Borders wants to bring Canada’s immigrant tech community together in November summit
Last year’s summit spanned three days and saw 1,000 registrants.
H|T: The Healthtech Times – Making your baby cry… for science
Plus: Could the Theranos that was promised come from Sudbury?
RenoRun lays off 12 percent of staff, pauses geographic expansion amid uncertainty surrounding consumer spending
CEO: “There’s just a level of uncertainty right across the board.”
Kirk Simpson, Peter Carrescia team up to raise $6.5 million CAD with an idea to disrupt the digital identity space
OMERS, Wittington, and Round13 have all backed Qui Identity.
R|T: The Retail Times – Shopify’s bet didn’t pay off
Plus: Has the scooter boom finally gone bust?
A|I: The AI Times – DeepMind cracks biology’s biggest problem
Plus: Google Is Selling Advanced AI to Israel, Documents Reveal.
FreshBooks secures $100 million USD debt facility from BMO, J.P. Morgan
With fresh funds, FreshBooks wants to continue global expansion, strategic acquisitions.
CFIN invests $338,000 into four Canadian projects related to food sector
Projects in this cohort range from an automated tempeh incubator to upcycling produce.
S|W: The SaaS Weekly – Microsoft stays rosy, Meta drops
Plus: Ex-Tungle, Foko employees pivot new startup to take on Evernote.
F|T: The FinTech Times – Clearco, Coinsquare cut staff as Portage launches new late-stage fund
Plus: Caisse needs to explain its risky bet on crypto lender Celsius.
Canadian startup news of the week (8/1/22)
Plus: Our podcast was nominated for an award.