Loopio makes “difficult decision” to lay off nine percent of its team
The Toronto-based software startup made its first acquisition in May.
layoffs
R|T: The Retail Times – Shopify is in a “fight” with CRA over merchant records
Plus: Alibaba surprises with chairman and CEO replacement.
Québec bolsters quantum footprint as semiconductor industry forms advocacy group
Plus: Angel investment in Canada mirrored VC dip in 2022.
Shopify makes checkout solution Shop Pay available to enterprise retailers not using Shopify
The move represents part of Shopify’s push to woo larger clients.
R|T: The Retail Times – Canadian-founded company behind Instant Pot files for bankruptcy
Plus: Shopify partners with Volt to offer open banking solutions (but not in Canada).
The two Canadian cities rising in Startup Genome’s global ecosystem rankings
Plus: Real-Time Rail delays are an unmitigated disaster.
R|T: The Retail Times – Shopify uses new weapons in battle against patent trolls
Plus: TikTok seeks $20 billion ecommerce business despite US setback.
Automotive software maker LeddarTech inks SPAC deal to go public on Nasdaq
CEO hails agreement as “important milestone,” plans to step down.
S|W: The SaaS Weekly – Instabase notches $2 billion valuation on the back of AI
Plus: Montreal-based HR platform GSoft secures $125M.
Canadian app Apollo to shut down amid user protest against Reddit API pricing
The app, founded in Halifax, was created to improve Reddit for iOS users.
Three Canadian cities ranked in the global top 50 startup ecosystems
Plus: Led by ex-Google researchers, OpenAI rival Cohere secures $270M.
Cohere announces $270-million USD Series C from Inovia, Nvidia, Oracle, Salesforce
Led by ex-Google researchers, OpenAI rival Cohere aims to help firms adopt generative AI.
R|T: The Retail Times – Shopify’s birthday gift: a new class-action lawsuit
Plus: Temu is losing millions of dollars to break into the US.
Inside Canada’s new early-stage VC firm
Plus: Shopify facing $130M lawsuit for alleged attempts at slashing severance pay.
H|T: The Healthtech Times – FDA approves Elon Musk’s Neuralink for human clinical study
Plus: AbCellera and BenchSci get combined $395 million