Trio of Canadian tech companies show progress towards profitability in earnings this week
byThinkific hits positive EBITDA as Coveo and Mogo shrink losses.
Kitchener-Waterloo
Cavelo secures $5-million Inovia-led seed round to help financial services firms protect their data
byWith cybersecurity no longer just “a big company problem,” Cavelo eyes US expansion.
Faire cuts 250 employees in its second layoff round in last year
byLast year, Faire slashed seven percent of its workforce as the e-commerce boom dimmed.
Traffic management startup Miovision closes $36 million CAD, bringing latest round to $296 million
byAmid acquisition spree, Miovision will use the funding to fuel organic and inorganic growth.
FluidAI Medical announces $15-million Series A for AI-driven postoperative monitor
bySeries A round comes almost exactly one year after rebranding from NERv Technology.
Rockwell Automation completes acquisition of Clearpath Robotics and its OTTO Motors division
byReportedly topping $600 million USD, the deal will keep the autonomous robotics startup in the Waterloo Region.
Rockwell Automation signs agreement to acquire Waterloo-based Clearpath Robotics
byClearpath’s mission statement is to automate “the world’s dullest, dirtiest, and deadliest jobs.”
Bank of Canada taps EvolutionQ to explore impact of quantum computing on digital dollar
by“The price of being late is far too great,” EvolutionQ CEO Michele Mosca says.
OpenText acquires solutions partner KineMatik
byKineMatik offers automation tools for business processes via OpenText marketplace.
Magnet Forensics acquires digital-media startup Griffeye to help investigate child abuse online
byGriffeye claims its platform is used by over 1,000 police agencies globally.
Waterloo Region deal volume has been tanking steadily since 2019. Could undisclosed deals be partly to blame?
byOff-the-record raises may be painting an incomplete picture of the ecosystem, investor says.
Toronto and Montréal added the most tech jobs in Canada in the last five years: Report
byOttawa’s tech talent concentration is higher than San Francisco’s Bay Area, CBRE says.
University of Waterloo uses $5 million from endowment to launch VC fund
byThe university was inspired by an emerging trend in the US, with schools like MIT.
ApplyBoard co-founder launches Passage to address Canada’s skilled worker shortage with $40-million seed round
byEx-ApplyBoard CEO plans to finance skilled immigrants that meet Canada’s workforce needs.
Toronto-Waterloo, Vancouver, and Montréal hold the fort as Calgary and Ottawa rise in Startup Genome’s latest global ecosystem rankings
byLarger ecosystems keep the status quo, as smaller ones post slight improvement.