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OMERS Ventures Managing Partner Jambu Palaniappan told BetaKit that Deliverect has a “massive macro opportunity” and “a really compelling vision.”
Swiggy, India’s top food delivery startup, has raised $700 million in a new financing round, just six months after securing $1.25 billion, as it aggressively expands its offerings, including the instant-delivery service in the South Asian market.
Montréal-based Lightspeed noted that Gaveau and Murray’s appointments bring the overall percentage of female identifying members on its board of directors to 44 percent.
Back Market sells refurbed tech like iPhones. It’s now worth $5.7bn (BUSINESS INSIDER)
Back Market, a startup that sells refurbished tech like iPhones and games consoles, is now worth $5.7 billion after $510 million funding round.
The startup’s all-equity seed funding round, which closed in late October, was led by Toronto-based StandUp Ventures.
Shopify analysts: will take years to compete with Amazon on fulfillment (BUSINESS INSIDER)
Analysts say it will take years before Shopify can truly compete with Amazon on logistics and fulfillment.
Toronto shattered venture funding records in 2021 as city grew accustomed to billion-dollar quarters (BETAKIT)
Investment in Toronto tech grew 400 percent in 2021, according to data from briefed.in. In Western Canada, British Columbia’s tech sector reached new heights last year, and Calgary saw strong results as deal volume in the region almost doubled. Elsewhere, Montréal saw its tech funding grow steadily, while Faire and Applyboard accounted for 85 percent of all capital raised by Waterloo Region startups in 2021.
Investors are throwing capital behind supply chain products as the appetite for ecommerce explodes.
Paack pulls in a $225M Series D led by SoftBank to scale its e-commerce delivery platform (TECHCRUNCH)
It’s now raised €200 million ($225 million) in a Series D funding round led by SoftBank Vision Fund 2. The capital will be used for product development and European expansion.
Sonder began trading on the Nasdaq after completing its previously announced business combination with California-based SPAC Gores Metropoulos II. The Montréal-founded startup moved to San Francisco in pursuit of international investors, but has sought to expand its presence in Canada once more over the past couple of years.
Canadian online travel upstart Hopper takes on Airbnb with new home-rentals offering (THE GLOBE AND MAIL)
In October, BetaKit reported that Montréal-based Hopper planned to introduce more travel products to its repertoire, including a short-term home rental business that would put it up against the likes of Airbnb. This week, Hopper did just that, adding short-term home rentals to its app-based offering.
Toronto-based commerce and marketing company Maropost has acquired Australian point-of-sale (POS) software provider Retail Express in its second acquisition to date. Maropost Chairman and CEO Ross Andrew Paquette told BetaKit that Maropost’s acquisition of the POS-focused firm provides its customers with a “much more significant solution for their retail operations.”
Canadians flocking to food rescue apps to reduce grocery bills and waste (THE CANADIAN PRESS)
Users of apps like Too Good To Go, Flashfood, Feedback and Olio say they have paid anywhere from $3 to $10 for prepared lunches or dinners, a week’s worth of vegetables and fruit, several loaves of bread, pastry boxes and even, entire pizzas or cakes.
The London-based startup has now raised over $300 million from investors betting its focus on corner shop, or bodega, staples, will put it ahead of a pack of startups seeking to deliver groceries in ten minutes across Europe.
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