University of Toronto, Université de Montréal get combined $325 million as part of $1.4 billion federal investment into university innovation
Other projects focus on sustainability, health, and migrants.
Funding
The51 closes $30 million of targeted $50-million Food and AgTech Fund
LPs include Farm Credit Canada, Alberta Enterprise Corporation, and National Bank of Canada.
Tentree founders spin out platform to help businesses keep their tree planting promises
CEO: “For us, Tentree was never an apparel business that planted trees.”
Practice Better raises $27 million USD to grow client management software for wellness providers
Practice Better claims to have more than 10,000 customers in more than 70 countries.
Well Health looks to invest $2.5 million into AI companies developing healthcare solutions
Well aims to make at least 10 investments of at least $250,000 each.
Smart display company E2ip Technologies raises $120 million
Export Development Canada and McRock Capital co-led the round.
How Super raised $85 million USD after rebranding from Snapcommerce
Snap, now “Super,” raised funding from execs at Shopify, Ancestry, Substack.
Federal government names six funds to distribute $50 million VCCI life science financing
Pender Ventures, Amplitude Ventures among recipients.
Vivid Machines raises $5.8 million CAD to help growers virtually monitor fruit trees
Toronto startup uses imaging and AI to monitor crop production.
Thales to build cybersecurity hub, hire 110 people in Fredericton with government funding
The hub will also house Thales’ North American cybersecurity centre.
Ocean Supercluster tops up 16 projects with $23 million to drive commercialization
Ocean Supercluster wants to strengthen, grow supply chains while accelerating commercialization.
Flash Forest raises $11.4 million CAD to support reforestation using drones and AI
Manual reforestation can be labour-intensive, but this startup claims it can be done in a flash.
Yield Exchange raises $700,000 CAD to simplify access to guaranteed investment certificates
Yield Exchange won two pitch competitions at SAAS NORTH 2022, taking home $110,000.
AI beauty lab Omy raises $11 million CAD to expand personalized skin care product line in North America
Omy launched its AI virtual skin consultant in 2020.
Certn targets global expansion of background check tech with $30 million USD Series B extension from EDC
M&A key part of Certn’s strategy as it looks to expand in Europe, Africa, Asia.