BCV leads second round in Relay, as SMB-focused FinTech closes $44-million CAD Series B
Startup targets profitability and $100-million USD run rate by end of 2025.
Ontario
Riot Platforms raises stake in Bitfarms following Riot’s rejected takeover bid
Riot says decision prompted by allegations in former Bitfarms CEO’s lawsuit with company.
Xanadu’s Christian Weedbrook is raising another $200 million to build a quantum data centre
The CEO of Canada’s quantum unicorn is very optimistic about the country’s innovation potential.
DIGITAL invests $10.5 million across four AI projects from healthtech startups
Projects from Swift Medical, RxPx, Gotcare, and AlayaCare carry a collective $26-million value.
US court overturns $40-million USD patent infringement verdict against Shopify
Shopify calls the judgment “a significant victory in the battle against patent trolls.”
Forma.ai’s first acquisition nets fellow Toronto sales software startup SeaMonster
With SeaMonster, Forma.ai aims to help companies provide activity-based sales incentives.
Paytm, PSP Investments alumni announce $5.25 million to build a super app for Canadian immigrants called Beacon
Beacon aims to become ‘the trusted brand for immigrants to Canada.’
Vantage points: MedEssist’s Joella Almeida on why being the ‘Shopify for Pharmacies’ is not enough
“Federally procured and provincially distributed” healthcare alienates practitioners from process.
Vantage points: Serial entrepreneur Ali Asaria on the Canadian tech “bubble” and how to beat the US
Tulip co-founder thinks Canada can be a global “startup amongst incumbents.”
Diversio acquires CCDI Consulting to expand its workplace-inclusion services
Diversio now offers consulting services and hundreds of training courses.
Vantage points: Jocelyne Murphy on how Canadian tech can help Gen Z founders feel less alone
“I think we’re looking for the industry veterans to lean in, be mentors, and show up for us.”
Gatik secures $41 million CAD from Isuzu Motors as pair expands partnership to build autonomous trucks
Japanese automaker and tech firm with Canadian ties gear up to deliver driverless trucking.
ThinkLabs AI spins out of GE with $6.8 million CAD to simplify electrical grid management
Opus One founder aims to help modernize the grid with his latest cleantech startup.
Nfinite Nanotech closes $8.9 million CAD to nanocoat sustainable packaging
Nfinite says its ultra-thin barrier seals sustainable packaging while maintaining recyclability.
Baseline closes $2.2 million CAD to help private lenders manage their businesses
Lender-turned-software-startup targets growing private lending market.