Arcadea Group secures $336 million CAD to acquire vertical SaaS companies
Capital injection brings the firm’s war chest up to $690 million CAD.
Funding
Former McMaster researchers announce $2 million to bring endometriosis test to market
Hamilton-based Afynia aims to improve the way endometriosis is diagnosed.
Xanadu and CMC among partners in academic quantum projects receiving $7.4 million in federal grant funding
INRS has three projects receiving funding from NSERC.
RetiSpec secures $13.8 million Series A to detect Alzheimer’s early through retinal imaging
American pharmaceutical giant Eli Lilly and medical device provider Topcon Healthcare join as strategic investors.
Cohere lays off five percent of staff a day after announcing $500-million USD Series D
Toronto generative AI startup cuts around 20 employees as part of “internal realignment.”
BC’s Centre for Innovation and Clean Energy invests $7.6 million across nine companies following call for innovation
Selected companies tackle energy storage, carbon management, alternative fuels, and low-carbon hydrogen.
Y Combinator grad Gumloop secures $3.1 million USD in seed funding to grow no-code automation tool
Backers include Y Combinator and founders from Instacart, Dropbox, and WePay.
Workstaff closes $1.6-million seed round with ambitions to expand beyond Canada
Startup has doubled team from six to 15 people, with plans to funnel funding first into the US.
Claudette McGowan closes $10-million Series A for cybersecurity startup Protexxa
Startup claims round is the largest secured by a Black woman founder in Canada.
Clio tops $4-billion CAD valuation with largest software funding round in Canadian tech history
New investors pool $900 million USD after legaltech hits $200 million in ARR.
Cohere Series D hits $500 million USD raised at $5.5-billion valuation
BetaKit reported in June that Cohere had secured $450 million with hopes of raising more at a $5-billion valuation.
Ethica secures $2.3 million to deliver “enterprise-grade” internet access to emerging markets
GreenSky-backed Ethica aims to improve internet reliability across Africa, India, other regions.
Acel Power raises $13.6 million CAD to ramp up production of battery-powered boat motors
Startup plans to bring 150- and 250-horsepower motors to market in the fall.
Corporate events and travel startup Planned closes $35-million Series B, adds Hopper CEO to board
The startup plans to automate “tragically old school industry” and expand internationally.
Ex-DeepMind researchers secure $17 million CAD to bring generative AI to video games with Artificial Agency
Toyota and Radical-backed startup aims to transform NPCs, game systems with AI.