Foreign and domestic AI with Tenstorrent and Cohere
Plus: Canada Post strike didn’t slow Shopify’s BFCM weekend.
hardware
Cohere secures federal backing to build multibillion-dollar Canadian AI data centre
This marks the first investment through the new Canadian Sovereign AI Compute Strategy.
Federal government outlines $2 billion in AI compute spending commitment
Strategy includes $1.3 billion for computing infrastructure and $700 million for AI data centres.
Sheertex maker SRTX gets $35 million CAD backing from IQ to grow manufacturing operations in Québec
STRX looking to close $70-million CAD convertible note financing round before end of year.
AI chipmaker Tenstorrent closes nearly $700-million USD Series D at $2.6-billion valuation
Samsung, Bezos-backed financing comes after the firm quietly relocated to the US.
“The world’s biggest problems are not going to be solved with software”: HardTech talks semiconductors and AI
VentureLab’s HardTech event discusses the state of Canadian deep tech, re-shoring, and the investment landscape.
Kraken Robotics raises $51.75 million CAD through bought deal public offering
Toronto-based investment bank Cormark Securities served as lead underwriter of the offering.
New funding for Kepler and Wyvern headline busy month in Canadian space tech
Wyvern and Kepler secure funding, Mission Control inks big partnership, and Volta Space preps for launch.
Untether AI, Tenstorrent headline ventureLAB’s 2024 HardTech Summit
HardTech Summit takes place November 6 and 7 at the Toronto Marriott Markham.
Feds announce $4 million for Atlantic Canada tech startups through ACOA
Eight of the 10 startups are Nova Scotia-based, including Milk Moovement and UpBeing.
Rivercity Innovations freshens up with $2 million CAD to further expand cold chain monitoring around the world
Round marks first major investment by StepChange, a growth capital firm targeting Western Canada.
Iris Booth appoints Shopify director Brandon Ghaeli as CEO
Ghaeli to replace founder Sue Siri following recent acquisition.
Pangaea Ventures closes $115-million CAD impact fund to back sustainability-focused hardtech solutions
Half of Pangaea’s fifth and largest fund has been allocated to date.
Mosaic to scale homegrown 3D printing infrastructure with $28 million CAD of equity growth funding
CEO says recent nearshoring push has been a boon for the 3D printing manufacturer.
Federal government’s massive $2 billion CAD loan to Telesat sparks Elon Musk debate between ministers
Elon Musk claims Starlink can provide similar internet services at half the cost. Minister Champagne disagrees.