Xanadu in talks with government over potential $390 million for domestic quantum manufacturing
Project OPTIMISM would “significantly advance” company’s roadmap toward utility-scale quantum computing.
Funding
Alan raises fresh funding as it entrenches in Canada
French Insurtech firm raises 100 million euros to continue international expansion.
Ottawa gives NRC $900 million for drone innovation hub and defence-focused IRAP stream
Commitment comes through $6.6-billion Defence Industrial Strategy.
Janet Bannister’s Staircase Ventures closes $50-million second fund
BDC Capital, University of Alberta, InBC join early-stage Toronto VC firm’s LP base.
Dominion Dynamics says it will invest $50 million to build a “sovereign autonomous wingman”
Uncrewed aircraft will be designed to fly alongside crewed fighters.
UniUni raises $85 million USD as it scales gig-powered delivery across North America
Beijing-based PE firm leads $30-million equity round, with RBC providing $55-million credit facility.
CVCA and NACO offer competing visions for feds’ $750-million venture envelope
NACO points to early-stage gaps, while CVCA wants capital committed to growth.
Ottawa puts $8.5 million behind 40 Atlantic Canadian AI projects
Evan Solomon announces support for Université de Moncton, Volta Labs, Digital Nova Scotia, and others.
NationGraph raises $18 million USD to bring AI to the black box of government contracting
Canadian co-founded startup is building AI intel platform for teams selling to governments.
Ottawa makes first RDII investments in Ontario with $15 million for CDL Defence and Wolf Advanced Technology
Money will support CDL’s defence accelerator and Wolf’s high-performance computing systems.
JetScaleAI secures $5.4 million to keep cloud costs and climate impact down
Former Dataperformers leaders aim to help companies optimize their cloud infrastructure.
Québec government invests $36 million to sustain Mila’s AI research
Funding comes through Québec’s five-year innovation strategy.
How Stay22 went from pandemic freefall to one of Montréal tech’s biggest growth stories
After losing 90 percent of its revenue in 2020, travel tech startup secures $122-million USD investment.
NordSpace launches venture arm with strategic investment in Wyvern
Edmonton satellite company says the investment will advance its next-generation Rosette satellites.
Private equity firm Novacap closes seventh and largest tech fund
The nearly $3.8-billion USD fund continues “disciplined” tech buyout strategy.