Spellbook raises $50-million USD Series B led by Khosla Ventures
St. John’s-founded legaltech company hits $350 million USD valuation.
Funding
Mark Cuban-backed TransCrypts closes $20-million CAD seed round
Canadian-founded startup placing “significant focus” on hiring for its new Toronto office.
PhenoTips raises $2 million to expand “genomic health record” platform’s global reach
Startup will expand in Canada and the UK while laying groundwork in the US, Europe, and Middle East.
Radical Ventures holds $650-million USD final close for new early-stage AI fund
Fund backed by $75-million USD contribution from The Canada Pension Plan Investment Board.
Inaugural Melamoon pitch competition awards $200,000 to Black founders
Winners include a smart hard hat for construction workers, a comfort-food startup, and a skincare brand.
Telegraph Ventures secures $35 million to back enterprise AI startups in Québec
The provincially backed spinoff fund aims to “catalyze” floundering pre-seed market.
Cohere’s valuation hits $7 billion USD following $100-million round extension
Canada’s leading AI company raised $500 million USD at a $6.8 billion valuation in August.
Simple Ventures announces $15 million to bring innovation and talent back to Canada
Major companies like TD and Sun Life back venture studio’s vision.
Mycroft raises $3.5 million USD to deliver “Goldilocks” security for startups
Ex-PartnerStack leaders want to give SaaS companies enterprise-grade security without the overhead.
BDC pledges $50 million to help women entrepreneurs buy businesses from aging owners
Thrive ETA Fund combines capital, training, and mentorship for women buying firms from retiring business leaders.
Elastic Path founder’s new startup ShopVision secures $5.6 million CAD seed round
Brightspark, BDC Capital, and Rhino Ventures back Harry Chemko-led startup.
Canadian VC pre-seed and seed activity continued to slump in H1 2025
VCs say latest results are “not the end of the world” but anticipate continued slowdown.
Startup groups urge Ottawa to extend ElevateIP funding
Demand is high but the $90-million program will expire this spring.
FeX Energy raises $4.8 million CAD on bet that iron can power the energy transition
McGill spin-out is piloting iron reactor for renewable energy storage targeting heavy industry.
Schulich Venture Academy has a “bigger vision” for upskilling Canadian tech startups
After teaching 200 graduates across three cohorts, SVA is ready to expand.