The Retail Times is a weekly newsletter covering retail tech news from Canada and around the globe.
Subscribe to R|T using the form at the bottom of this page to ensure you don’t miss out on the most important retail tech news every week!
Montréal-based Inovia Capital has launched its first Discovery Fund, closing $34 million CAD ($25 million USD) to invest in emerging North American venture capital (VC) fund managers focused on pre-seed and seed-stage startups.
The Discovery Fund formalizes Inovia’s existing efforts to invest in emerging VC firms as many face difficulties fundraising.
Flexport’s Revenue Dropped 70% in First Half of 2023
Flexport’s revenue fell nearly 70% in the first half of the year to $700 million and the company burned through cash, people familiar with the company’s financials said.
The decline shows how the SoftBank- and Andreessen Horowitz-backed logistics startup’s performance has been deteriorating rapidly amid a broader freight market collapse.
Are you ready for the challenges of the future?
The next generation of talent and consumers are here. Know what they want by hiring the right talent. Highly skilled and adaptable talent, like co-op students, can help lead the transformation of the retail industry.
Hiring Waterloo co-op students = investing in innovation.
With up to 70 percent access to funding opportunities, students are affordable talent.
CCI calls for Parliamentary Technology and Science Officer to help get AI regulation right (BETAKIT)
A new report on the artificial intelligence (AI) sector warns that while Canada is well-positioned with personnel and leading research in the area, Canadian companies face significant barriers as they scale up.
The Council of Canadian Innovators (CCI) contends that a lack of Canadian companies scaling up is leading to many of the benefits created from public investment in research and training in AI flowing to firms outside of Canada.
Instacart to Target Much-Diminished Valuation Range of Under $10 Billion in IPO (THE WALL STREET JOURNAL)
Instacart is targeting a valuation of roughly $8.6 billion to $9.3 billion in its imminent IPO, a fraction of what the grocery-delivery company was previously worth, in the latest sign of diminished investor enthusiasm for private growth companies.
Nearly every company leader in the world is thinking about the potential opportunity—and risk—of generative AI for their business and customers.
In an interview with BetaKit, Coveo CEO Louis Têtu shared takeaways from his world tour, the growth in AI-enabled experiences, and how CIOs can prepare for the “tectonic change” of generative AI.
Shopify founder and CEO Tobi Lütke marks ‘first week living in Toronto’ in social media post, substantiating a rumour running round tech circles that the Shopify founder had left the firm’s hometown. Lütke’s move caps a larger geographic shuffle for his company.
Elevate Festival, which is set to return to Toronto in two weeks for its fifth annual event, has unveiled its full schedule and speaker list.
Elevate 2023 headliners include Canadian deputy prime minister and minister of finance Chrystia Freeland, former CTV National News chief anchor Lisa LaFlamme, Sweet July founder and CEO Ayesha Curry (spouse to NBA star Stephen Curry), and retired astronaut and Elevate co-chair Chris Hadfield.
Noteworthy deal: Music marketing platform Bandzoogle acquired by U.S. firm (OTTAWA BUSINESS JOURNAL)
Ottawa-based music marketing and sales platform Bandzoogle has been acquired by U.S. independent digital music distribution service DistroKid, the companies announced this week.
Founded in 2003, Bandzoogle is an e-commerce platform aimed at musicians. In addition to building websites for thousands of artists, the 31-person company provides tools that allow musicians to sell music, merchandise and tickets without paying commission fees.
In 2021, Calgary-based robotics startup Attabotics alleged that Urbx, a Boston, Mass.-based fulfillment automation company, infringed on two of its patents. Since a US judge partially rejected a motion to dismiss in June, the pair recently announced an amicable resolution to the litigation between them.
Amazon’s Next Big Bet: Restocking Shelves at Physical Stores (BNN BLOOMBERG)
Amazon.com Inc. is offering a new service that will let its 2 million merchant partners deliver inventory directly to physical retail stores and warehouses, the latest push by the e-commerce giant to expand its logistics network beyond serving online shoppers.
The latest capability for merchants shows that the e-commerce giant is trying to control more inventory deeper in the supply chain before it’s sold.
Subscribe to The Retail Times
Don’t forget to subscribe to The Retail Times using the form below to make sure it hits your email inbox every week!