i4 Capital closes over $40 million toward new $60-million deep tech fund
The fund is backed by the Fonds québécois d’amorçage Teralys, Fondaction, and the Fonds de solidarité FTQ.
Funding
Protein Industries Canada offers $10 million to help grow AI use in food sector
AI is being applied to the plant-based food industry’s efforts to satisfy ever-changing consumer demands.
Leading steel company ArcelorMittal SA invests $6.6 million in Char Technologies’ decarbonization tech
Char Technologies only Canadian company to receive investment from ArcelorMittal SA’ s XCarb Innovation Fund.
PacifiCan invests nearly $23 million in BC cleantech, zero-waste projects
Saltworks, MintList, and Novarc Technologies all receive funding for expansion and commercialization.
Shakudo closes $9.5-million CAD Series A to help companies adopt generative AI
GreatPoint-backed Shakudo is led by AI experts from Georgian, Borealis AI, and BMO.
Porta raises $10.5-million for frozen, ready-to-cook Italian meal delivery service
Porta might just fill the frozen-pizza-shaped hole left by General Assembly.
GeologicAI closes $30-million USD Series A to develop AI-powered robot geologists
Bill Gates-founded Breakthrough Energy Ventures has bet on GeologicAI’s bots.
Syzl crowned PITCH winner at Collision 2023 as other startups win cash prizes from The DMZ
The DMZ awarded $65,000 to startups at its Insiders Event prior to Collision’s start.
Jombone secures $1 million from FedDev to address industrial staffing needs
With this funding, Jombone wants to adapt its platform for the US market.
PitchBook analysts say 2023 VC funding is “pretty much shot,” long-term recovery appears likely
PitchBook analyst: “It’s not going to be a six-month turnaround.”
University of Waterloo uses $5 million from endowment to launch VC fund
The university was inspired by an emerging trend in the US, with schools like MIT.
Vector Institute, Ontario Centre of Innovation secure combined $77-million provincial funding
OCI received $50 million from Ontario’s $107-million Critical Technology Initiative.
Shipping container marketplace Boxhub raises $12.4 million for global expansion
Boxhub said it has become popular with people making tiny houses and vertical farms.
Canadian clusters team up to drive $30 million in quantum technology commercialization
NGen and DIGITAL are receiving $14 million from the National Quantum Strategy, which they hope to leverage.
ApplyBoard co-founder launches Passage to address Canada’s skilled worker shortage with $40-million seed round
Ex-ApplyBoard CEO plans to finance skilled immigrants that meet Canada’s workforce needs.