BetaKit (Canada)

Stay22 Raises $122M in Minority Growth Round From Summit Partners

Montreal-based travel content monetization startup Stay22 announced a $122 million USD minority growth investment from private equity firm Summit Partners, its first external funding since 2020. The all‑equity round will support Stay22’s expansion into retail link monetization and further growth...

Padder Raises $2.5M CAD Seed Round Led by North Exit Ventures

Toronto-based insurtech startup Padder has closed a $2.5 million CAD seed round led by North Exit Ventures, with participation from Westdale Properties and angel investors. The capital will fund the launch of its guarantor‑as‑a‑service platform for Ontario landlords and tenants.

What I Learned From Trying to Buy only Canadian Tech

In 2017 Stefan Palios tried to run a profitable business using only Canadian‑made technology. The experiment exposed deep skepticism among VCs and accelerators, many of whom advised founders to move to the United States to scale. A decade later, louder...

Canadian Bitcoin Consortium Launches Insurance Company for Digital Asset Businesses

The Canadian Bitcoin Consortium (CBC) has launched Blockchain Insurance Inc., the first association‑based captive insurer dedicated to digital‑asset businesses. Licensed in Alberta in December 2025, the carrier offers member companies up to 25% discounts on premiums, cutting costs that can...

Wealthsimple Named CIX Innovator of the Year

Wealthsimple was crowned the 2026 CIX Innovator of the Year by Elevate, with CEO Michael Katchen slated to speak at the CIX Summit in Toronto. The Toronto‑based fintech doubled its assets under administration to $100 billion CAD and its valuation to...

How Mycroft Scaled to over 100 Customers without a Playbook

Mycroft, a Canadian AI‑driven cybersecurity startup, has surpassed 100 B2B customers and is approaching $2 million CAD in ARR after a $3.5 million USD seed round. Founder Mike Kim built the platform as a virtual CISO, using AI agents to automate policy...

Cohere Co-Founder Nick Frosst Wants to Build More Canadian, Less Silicon Valley-Centric AI

Co‑founder Nick Frosst said at the Vector Institute conference that AI development should reflect Canadian values rather than Silicon Valley dominance. He positioned Cohere as Canada’s flagship large‑language‑model company, emphasizing efficient, custom models for business ROI over frontier AGI pursuits....

Feds Announce $6.5-million Investment in Alberta Defence Manufacturing

The Canadian government announced a $6.5 million investment in Edmonton’s defence manufacturing sector through Prairies Economic Development Canada. The funding, part of the $357 million Regional Defence Investment Initiative, is split between Zero Point Cryogenics ($5 million) to commercialise quantum‑grade dilution refrigerators and...

Québec Has a New Digital Sovereignty Plan. Will It Work?

Quebec announced a $1.4 billion digital sovereignty plan to shift data hosting and procurement to local providers, aiming to reduce reliance on US tech giants. The policy emphasizes sovereign cloud services, hydro‑powered data centres, and free‑software development. However, recent cost‑overrun scandals...

Sheertex Maker Will Be Sold to Fellow Quebec Hosiery Company AYK

AYK to Acquire Sheertex Maker in Quebec Hosiery Deal

Quebec-based hosiery company AYK announced it will acquire the maker of Sheertex, a leading ultra-strong tights brand. The undisclosed transaction aims to strengthen AYK's position in the North American hosiery market. The deal was announced on February 18, 2026.

Bank of Canada Orders XTM to Cease Retail Payment Activities After Investment Regulator Halts Trading of Its Stock

The Bank of Canada ordered fintech XTM and its affiliates to stop all retail payment activities after customers of its Everyday Payments subsidiary reported missing funds. Simultaneously, the Canadian Investment Regulatory Organization halted trading of XTM’s PAID stock, causing the...

From Client to Cap Table: Shakudo Converts Customers Into Investors with $7-Million USD Raise

Toronto‑based AI infrastructure startup Shakudo closed a $7 million USD Series A2 round, led by Wittington Ventures, adding investors from its client base such as Loblaw and CentralReach. The round brings total funding to roughly $18 million and places Wittington managing partner...

Is BDC Too Big to Change?

In 2022 the Canadian government commissioned a report asking venture capital firms for candid feedback on the Business Development Bank of Canada (BDC). The report, which highlighted concerns about BDC’s size, dual mandate, and recent turnover, was never publicized or...

Black Business Ventures Association Brings Dragons Den Energy to Edmonton Unlimited

On Thursday, the Black Business Ventures Association hosted an Innovation Expo at Edmonton Unlimited, offering early‑stage Black entrepreneurs a Dragons’ Den‑style platform to pitch their ventures. Six startups—including a gamified ad platform, legal‑tech, peer‑to‑peer exchange, hyperlocal networking, digital business cards,...

Mesosil’s Infection-Fighting Dental Tech Gets FDA Clearance

Toronto‑based health‑tech startup Mesosil has secured FDA 510(k) clearance for its antimicrobial dental additive, allowing U.S. dental manufacturers to embed the technology in products such as composites and cements. The clearance follows a four‑year development program and validates the company’s...

Photonic Claims “World-First” Quantum Teleportation Across Telus Fibre Network

Photonic announced it successfully teleported quantum information across 30 km of Telus’s commercial PureFibre network, marking the first time usable qubits have been transferred to a remote processing node on a live telecom backbone. The demonstration builds on earlier lab‑scale experiments...

Apple Strikes Deal to Acquire Canadian Database Software Startup Kuzu

Apple has agreed to acquire Canadian startup Kuzu, a developer of lightweight embedded graph database technology, as disclosed to the EU under the Digital Markets Act. The acquisition, finalized on Oct. 9, 2025, includes all Kuzu shares and select employee...

Kainova Closes $32 Million to Advance Cancer and Inflammation Therapies

Kainova Therapeutics announced a CAD 32 million first close of its Series B financing, led by Investissement Québec and supported by existing backers. The funding brings total venture capital to about $90 million USD and will accelerate development of its GPCR‑focused drug candidates. Lead...

Inside the Edmonton Facility Building Quantum’s Hidden Infrastructure

Zero Point Cryogenics (ZPC), based in Edmonton, is one of six firms worldwide that commercially produce dilution refrigerators essential for quantum computing. The company’s 6,300‑sq‑ft facility combines university research talent, skilled trades from Alberta’s energy sector, and low‑cost manufacturing to...

Zero Point Cryogenics Launches Its First Fundraising Round

Zero Point Cryogenics (ZPC), a Canadian maker of dilution refrigerators for quantum research, has announced the start of its first fundraising round. The round aims to fund the company's expansion and further development of quantum cryogenic technology. No amount or...

Elle, MD, Hiive, and LiORA Among Latest CIX Startup Awards Winners

Elevate announced the 14 winners of its 2026 CIX Startup Awards, chosen from more than 370 applications by a 94‑member investor committee. The awardees span three maturity tiers—Emerging, Early and Growth—and include fintech platform Hiive, geothermal pioneer Eavor, climate‑tech firm...

Ssense Founders Can Buy Back Company, Court Rules

Montréal‑based luxury e‑commerce platform Ssense will be reclaimed by its founders after a Quebec Superior Court dismissed lenders' request for a forced asset sale. The court approved a founder‑led buyback valued at $78 million, including a $58.5 million cash payment and assumption...

Trust Science Acquires Lenders API to Build Fraud Defence System for Lenders

Trust Science, an AI‑driven risk platform, has acquired Toronto‑based Lenders API, bringing its consortium‑based fraud‑prevention technology, customers, and data into Trust Science’s portfolio. The deal creates Canada’s first industry‑wide defence system against coordinated lending fraud, enabling real‑time, anonymized data sharing...

Taiv Wants to Let You Choose Your Own TV Ads

Taiv, a Winnipeg‑based ad‑tech startup, announced a $13 million USD funding round, bringing its total capital raised to over $30 million USD and valuing the company just under $100 million USD. The firm’s AI platform detects and replaces live TV commercials in under...

Taiv Raises $13M in Series A Plus Round Led by IDC Ventures and Emerging Ventures

Canadian ad‑tech startup Taiv announced a $13 million USD funding round, dubbed a “Series A plus”, led by IDC Ventures and Emerging Ventures. Existing backers Y Combinator, Garage Capital, Pioneer Fund, Trillick Ventures and undisclosed angels also participated, bringing total capital...

Trust Science Acquires Lenders API to Build Canada’s First Industry‑Wide Fraud Defence System

Edmonton‑based Trust Science announced the acquisition of Toronto‑based Lenders API, creating Canada’s first industry‑wide fraud defence system for lenders. The deal, which closed last week, includes Lenders API’s technology, customers and data, though financial terms were undisclosed.

Haply Robotics Raises $16 Million to Build the “Steering Wheels” For Physical AI

Haply Robotics announced a $11.75 million USD (CAD $16 million) seed‑plus financing round, led by Sound Media Ventures and backed by Amazon’s Industrial Innovation Fund, Hanwha, Two Small Fish Ventures, and BDC Capital. The Montreal‑based startup builds high‑precision haptic controllers—such as the Inverse3...

Kiwi Charge Takes EV-Charging Robot to Showroom Floor with $1.7-million Pilot Project

Toronto‑based Kiwi Charge is piloting its autonomous EV‑charging robot in a $1.7 million project with General Motors Canada and Pfaff Automotive. The robot, dubbed the “R2‑D2 for EV charging,” can self‑charge in 30 minutes and fully charge a vehicle in another 30 minutes,...

Kaster Technologies Raises $1.6 Million to Scale up Pharma Manufacturing

Canadian startup Kaster Technologies announced a CAD 1.6 million pre‑seed round led by Graphite Ventures, with participation from Hidden Layers Capital and angel investor Louis‑Martin Rousseau. The company offers an AI‑guided software platform that optimizes pharmaceutical production cycles, promising up to...

Josh Ogden Thinks Canada’s Drone Industry Can Gain some Altitude

Josh Ogden, CEO of AVSS, warns that Canada’s drone sector has dwindled to fewer than 20 manufacturers that merely assemble foreign components rather than develop core technology. He points to historic successes like Aeryon Labs, many of which were acquired...

Latency May Be Invisible to Users, but It Will Define Who Wins in AI

AI inference today is dominated by centralized cloud data centers, introducing 100 ms or more of network latency per request. As AI moves into real‑time applications—voice agents, gaming, robotics—such delays become product constraints, making latency a competitive differentiator. Traditional CDNs cannot...

Substack Hires Former Google Exec as Its First Head of Partnerships in Canada

Substack has hired former Google Canada executive Mark Swierszcz as its first head of partnerships in Canada, reflecting the platform’s rapid organic growth north of the border. Canada is now Substack’s third‑largest market worldwide, with more than half a million...

Elevate Farms Acquires Fieldless Farms to Create “Canadian Food Powerhouse”

Toronto‑based Elevate Farms announced the acquisition of Ottawa‑based Fieldless Farms, merging two leading Canadian indoor‑farming startups. The combined entity aims to create a “Canadian food powerhouse,” delivering year‑round leafy greens through controlled‑environment agriculture while strengthening domestic food security. Both companies...

Despite Q3 Loss, Lightspeed Optimistic on Executing Growth and Profitability Plan

Lightspeed Commerce reported fiscal Q3 revenue of $312.3 million, slightly beating its own and analysts’ forecasts, while posting a net loss of $33.6 million, wider than a year ago. The company upgraded its full‑year revenue outlook to $1.22 billion and expects higher gross...

For Rayhawk Technologies, Automating Away Risk Is a Family Story

Rayhawk Technologies, founded by Tom Boehm, has turned a family‑rooted safety concern into an automated gantry system that opens and closes railcar lids at grain elevators. Leveraging machine‑learning and computer‑vision, the solution replaces hazardous manual work with precise, weather‑resilient robotics....

AgTech Startup Brilliant Harvest Secures $4 Million USD in Seed Funding

Calgary‑based AgTech startup Brilliant Harvest announced a $4 million USD seed round, led by returning investors Builders VC and AltaML and joined by FTW Ventures, Alpaca VC, Automotive Ventures, SVG Ventures and NYA Ventures. The AI‑driven platform, which parses technical manuals...

Vena Moves Into “Orchestrated” Financial Planning with Acterys Acquisition

Vena Solutions announced a cash‑and‑stock acquisition of Australia‑based Acterys, a profitable FP&A vendor with roughly $13 million in annual recurring revenue and over 300 customers. The deal merges Vena’s Excel‑native budgeting platform with Acterys’ Power BI‑driven operational planning and app‑development suite. Vena...

BDC Head Says Bank Pulled Back From Life Sciences “Too Early” As It Preps New VC Fund

The Business Development Bank of Canada (BDC) is preparing a new life‑sciences fund of roughly C$100 million to re‑enter direct medtech investing, launching before April. BDC’s president Isabelle Hudon said the bank withdrew from the sector too early after its 2013...

Building with AI Is Now the “Price of Admission” For Software Startups, Inovia Report Says

Inovia Capital’s 2025 State of Software report shows AI‑native startups now account for 40% of Canadian software deal value, up from 12% a decade ago. Investors treat deep AI integration as a baseline requirement, rewarding AI‑focused firms with larger rounds...

Vena Solutions to Acquire Acterys, Expanding Orchestrated Financial Planning

Toronto-based Vena Solutions announced it has signed a definitive agreement to acquire Australian FP&A platform Acterys. The cash‑and‑stock transaction, terms undisclosed, will combine Vena’s Excel‑native software with Acterys’ operational planning and Power BI integration to expand its orchestrated financial planning capabilities....

US-Based Welding Tech Company ESAB to Buy Eddyfi for $1.45 Billion USD

US welding equipment maker ESAB announced a $1.45 billion acquisition of Quebec‑based non‑destructive testing specialist Eddyfi. The deal, valued slightly above Lightspeed Commerce’s market cap, will be funded through cash, debt and a $318 million equity commitment. Eddyfi, which generated roughly $270 million...

Neo Financial Secures $68.5 Million in Equity as It Adopts Big-Bank Funding Playbook

Neo Financial announced a CAD 68.5 million equity round led by Canadian institutional investors such as AIMCo and Northleaf. The funding coincides with the launch of a securitization program that will bundle its credit assets to generate liquidity, a practice common among...

This U of T-Led Program Is Helping Canada Find Its Place in the Global EV Market

The Electric Vehicle Innovation Ontario (EVIO) program launched in December with a $2.5 million federal grant to embed 37 graduate researchers in 20 Ontario EV and mobility firms over three years. Led by the University of Toronto and seven partner universities,...

Carbon Upcycling Names New CEO

Markus Kritzler has been promoted from chief revenue officer to chief executive officer of Carbon Upcycling, the Calgary‑based firm that converts industrial byproducts and CO₂ into supplementary cementitious materials. Kritzler joins the role after a brief but impactful tenure that...

ESAB to Acquire Eddyfi for $1.45B

Maryland‑based welding equipment maker ESAB announced an agreement to acquire Quebec‑based non‑destructive testing provider Eddyfi for $1.45 billion. The deal, funded with cash, debt and equity, will keep Eddyfi’s workforce and headquarters in Québec City and is expected to close in...

Slate Raises $1.3M CAD Pre‑seed Round Led by N49P and North Exit Ventures

Canadian fintech startup Slate announced a $1.3 million CAD pre‑seed financing round led by N49P and North Exit Ventures. The funding will support Slate’s embedded lending infrastructure for Canadian SaaS platforms. Slate launched out of stealth in early 2026.

Transformer Lab Raises Undisclosed Pre‑seed Round From Hawktail, Ripple Ventures and Garage Capital

Canadian AI platform Transformer Lab announced a pre‑seed fundraising round led by Hawktail, Ripple Ventures and Garage Capital, though the amount was undisclosed. The funding will support the platform’s worldwide launch and further development of its unified AI research operating...