Lithium-ion battery developer UgoWork closes Series C funding to expand HQ, production facility
UgoWork said it might raise additional capital, but declined to disclose further details.
Funding
Ottawa announces second tranche of VCCI funding to support underrepresented entrepreneurs
An additional five VCs from Vancouver, Toronto, and Montréal will receive portions of the $25 million commitment.
Arcadea Group secures $336 million CAD to acquire vertical SaaS companies
Capital injection brings the firm’s war chest up to $690 million CAD.
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.