Brightspark seeks to recreate its “home run” exits of Think Dynamics, Radian6 as it launches $120-million fund
Brightspark Ventures has made an initial close of $60 million towards its target.
Montréal
BrainBox AI acquires ABB technology in its mission to reduce greenhouse gas emissions in buildings
Québec government and ABB invest $27 million CAD to aid BrainBox AI help retailers use less energy.
RenoRun shuts down operations as it pursues sale of assets
RenoRun expects to close a purchase of its assets by no later than May 15.
Banking apps Pillar and Billi shut down as funding dries up for FinTech businesses
Venture funding for FinTech startups in Canada plummeted by 70 percent in 2022.
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.
RenoRun granted court extension in insolvency filing to pursue sale
RenoRun asked for extension amid “a high level” of interest from potential buyers.
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.
Medfar secures $30 million CAD, looks to acquire more electronic medical record software providers
Medfar was built by two aeronautical engineers who wanted to digitize health clinics
Optable raises $26 million CAD to help companies improve advertising campaigns
Optable is backed by a group of corporate venture investors.
BDC launches $150 million Sustainability fund in revamp of Industrial, Clean and Energy Technology Venture Fund
The Sustainability Venture Fund is set to complement BDC’s $400 million Climate Tech Fund.
Mila secures $21 million from Québec government to support ethical AI research, projects
The provincial government also invested $14.3 million into ten incubators, accelerators.
MY01 raises $12.5 million CAD for microsensors that aid in physician diagnostics
Montréal medtech startup uses microsensors to help doctors diagnose acute compartment syndrome.
Meet the Canadian startups participating in Y Combinator’s Winter 2023 Demo Day
A total of 282 companies participated globally.
Eli raises $5 million to make at-home hormone testing for women more accessible
“It will allow us to build a large-scale dataset of daily hormone levels for the first time in history.”
Yoshua Bengio, major tech leaders call for six-month pause on advanced AI development in open letter
Elon Musk, Steve Wozniak, and DeepMind scientists also signed the letter.