Telesat’s steep Q2 net loss slows its stock bull run
Satellite operator attributes its $559-million net loss to increased value of debt and warrants.
Briefs
Medical networking app The Rounds acquired by Native Touch
Halifax-based company will maintain standalone brand and continue hiring in Atlantic Canada.
RBC and BMO to sell off Canadian payment giant Moneris in $2-billion deal
US-based private equity firm Francisco Partners purchases one of Canada’s largest payment processors.
Fisent Technologies raises $4.3 million USD to help enterprises automate AI use
Toronto startup’s revenue grew more than 200 percent last year amid economy-wide rush to adopt AI.
Autonomous welding startup TetraGen Robotics raises $1.8 million
Oversubscribed round was led by StepChange Capital and will help company commercialize.
Max Power is maxing out geological exploration with AI
The mining company drilled Canada’s first well dedicated to natural hydrogen. Now it’s looking to commercialize.
SAAS NORTH AI, Dominion Dynamics launch new dual-use defence summit
Deploy is a founder-focused summit in Ottawa for companies expanding into defence.
U of C to lead creation of Canada’s first quantum defence innovation hub
Feds will invest more than $20 million in 13-member consortium focused on military applications.
CarDoor launches seller marketplace built on real-time bidding
MarketCheck moves CarDoor away from consumer retail toward dealer-focused sales.
Goodfood seeks creditor protection after CEO resigns
Montreal meal-delivery company wants time to restructure the business amid liquidity constraints and mounting debt.
U of T prof Sanja Fidler leaves as Nvidia’s VP of AI research
Fidler did not reveal her next move, but said world models are the “next breakthrough” in AI.
Intellistake to acquire Dallas-based NanoAi for $17 million in stock
Vancouver company will combine its enterprise AI infrastructure with NanoAi’s air screening devices.
Mode40 and CME partner to launch Prairies-wide AI initiative for aerospace, aviation, and defence
AeroTrace is designed to demonstrate the value of AI-enabled systems in industrial manufacturing.
Telesat, MDA Space tapped for $2.3-billion Arctic satellite buildout
Federal contract will expand Lightspeed constellation from 156 to 225 satellites.
Calgary crypto exchange Catalyx permanently barred from operating
Former crypto exchange’s CEO, Hyuk Jae Park, will also pay a $90,000 fine to Alberta Securities Commission.