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Acerta closes $10.4 million CAD Series B to help automakers like Nissan and GM build car parts more efficiently (BETAKIT)
Kitchener-Waterloo-based Acerta Analytics has benefitted as car and vehicle parts manufacturers have sought to operate more efficiently amid these conditions, amassing a list of clients that includes Nissan, General Motors (GM), BMW, Volvo, and Dana.
L-Spark’s Leo Lax: 2022 has been a “disaster” for SaaS funding, though sector continues to grow (BETAKIT)
“The market has shifted completely, and in the Canadian economy, we’ve seen this shift creating a contraction in terms of where growth is happening,” says Leo Lax, L-Spark executive director.
A lawsuit would be the FTC’s biggest move yet under Chair Lina Khan to rein in the power of the world’s largest technology companies. It would also be a major black mark for Microsoft, which has positioned itself as a white knight of sorts on antitrust issues in the tech sector after going through its own grueling regulatory antitrust battles around the world more than two decades ago.
A lakefront location, beautiful views, swanky furniture, networking spaces and leading-edge building technology. MaRS Waterfront is a brand-new workspace concept for high-tech innovators.
MaRS Waterfront offers emerging and established innovators a unique place to meet and collaborate with people, do deep-dive work in an inspiring setting, and build and scale your company. Developed in partnership with the University of Toronto Entrepreneurship and Menkes in the heart of Toronto’s emerging East Bayfront neighbourhood, it’s also the ideal place to build community, host an event, and get the world to take notice.
Legal tech startup Clio advances its FinTech play with launch of payments product in Canada (BETAKIT)
Jack Newton, Clio’s CEO and founder, previously told BetaKit that outdated paper invoices and payment processes caused lawyers difficulties when it came to billings and getting paid. At the same time, clients sometimes struggled when they had to pay in a lump sum, and, as well, could experience difficulties understanding fees.
Zendesk goes private in $10 bln deal (REUTERS)
Software company Zendesk Inc on Tuesday completed its sale to a group of private equity firms led by Hellman & Friedman and Permira in a deal valued at $10.2 billion after prolonged pressure from activist investor Jana Partners.
“Investors continue to monitor market conditions in anticipation of an inflection point, while founders hold off fundraising at decreased valuations,” says CVCA CEO Kim Furlong.
Prosus values its 9.67 percent stake in Byju’s at $578 million (MONEY CONTROL)
Although Prosus’ accounting entry implies that it values Byju’s at $5.9 billion, experts say that different shareholders may value a private company differently in their books.
Singh founded Acuva in 2014 with a mission to enable clean drinking water using technology and so far he’s secured $8.4 million in growth financing to do it.
Speaking with BetaKit, Singh shared Acuva’s growth story, how he’s prioritizing local impact while growing globally, and the challenges the company has faced scaling in Canada.
Alphabet executives have stressed the need to sharpen “focus,” bring down costs of projects and make the company 20% more efficient. There’s also been a recent change in performance reviews, and some employees point to declining travel budgets and less swag as signs that something bigger may be on the horizon.
Lenz said the “ego raising” that she saw in 2021 can be blamed on both sides: companies wanted to raise bigger rounds, and VCs have their own fund dynamics for which they want to put a certain amount of capital to work.
As Elon Musk Cuts Costs at Twitter, Some Bills Are Going Unpaid (THE NEW YORK TIMES)
Mr. Musk and his advisers are examining all types of expenses at Twitter. Some of the social media company’s vendors have gotten stiffed.
Prairie tech celebrates its own with Calgary Launch Party, Start Alberta Awards, Startup TNT Summit (BETAKIT)
This year’s Launch Party highlighted 10 Calgary startups, with three taking home prizes for the People’s Choice Award, Alumni’s Choice Award, and the Alex Raczenko Pitch Award, respectively.
Department of justice opens investigation into real estate tech company accused of collusion with landlords (PROPUBLICA)
The DOJ will examine whether RealPage helped landlords coordinate rent increases. Questions also swirl around a 2017 merger deal with its largest competitor.
“The change to electric vehicles is the right thing for the industry to do to remain competitive and profitable,” said Richard Dunda, the Director of the Centre for Integrated Transportation and Mobility.