Canada is leading by example in AI
Plus: Canada Rocket Company rises.
Funding
Orbits secures $2 million USD to manage home logistics with AI
A16z Speedrun, N49P, Garage back Orbits’ consumer launch of AI household assistant.
Amplify Capital prepares to place more early-stage bets with $60-million third impact fund
Ten-year-old VC firm will back up to 30 companies, with a focus on climate, health, and work tech.
Cura raises $10 million USD to scale low-carbon cement technology
Calgary startup is expanding its team and building a pilot plant near Taber, Alta.
Your must-read Canada Investment Summit summary
Plus: Canada to pursue sovereign internet.
Terry Fox Research Institute commits $25 million to AI powered health projects
Fourteen Canadian projects can use TFRI’s secure platform to analyze “vast amounts of complex health data.”
Portage closes fourth FinTech VC fund at $600 million USD
Portage is the FinTech investment arm of Power Corporation-owned Sagard.
Yoshua Bengio’s LawZero receives $300 million backing from Canada and Germany to pursue safer AI ambitions
Non-profit startup will use the funding to establish a Berlin office and a Canadian sovereign compute partnership.
Canada Rocket Company wants to build a sovereign alternative to SpaceX’s Falcon 9
CRC hopes to keep it simple as it races to space on the tailwinds of Canada’s renewed interest in the stars.
BDC outlines how it will deploy $1 billion from its Defence Platform into funds and startups
Crown corporation increased direct defence investment capacity and pledged more to defence-focused fund-of-funds.
Farm Credit Canada invests $150 million in new agri-food fund led by Arlene Dickinson
New fund comes as Canada announces billions in funding for FCC as part of its National Food Security Strategy.
Radical Ventures launches Canada’s largest AI fund with $1-billion USD first close
Leading Canadian pension funds and banks back Toronto AI investor’s late-stage strategy.
Thin Air Labs celebrates $100-million Funding Catalyst milestone
Milestone reflects more than 300 funded projects across nearly 400 companies.
Bell announces $50-billion buildout to produce Canada’s largest data centre in Saskatchewan
Non-binding MOU would be largest private capital investment in province’s history, quadrupling planned capacity.
Intrepid Growth Partners secures $525-million USD final close for inaugural AI fund
Former leaders from OMERS, CPPIB, and CDL lead fund to find “the next generation of AI founders.”