UBC and InBC Launch New Fund to Support University Spinouts
The University of British Columbia and InBC Investment Corp. have launched the UBC Catalyst Ventures Fund, each contributing $10 million CAD (about $7.4 million USD). The partnership aims to raise an additional $20 million CAD from private investors, targeting a $40 million CAD (~$29.6 million USD) pool to back UBC‑originated spinouts. The fund will focus on early‑stage life‑science and deep‑technology companies, aligning with British Columbia’s Look West economic plan. It seeks to accelerate commercialization of university research, building on more than 280 existing UBC spinouts that have generated roughly $13 billion in sales.
Online Legal Database CanLII and AI Startup Caseway Settle Copyright Dispute
The Canadian Legal Information Institute (CanLII) and Vancouver‑based AI startup Caseway AI have reached a confidential settlement that ends CanLII’s November 2024 lawsuit alleging unauthorized bulk downloads of its legal database. Both parties announced they will resume independent operations, with...
Calgary’s New Cleantech Research Centre Gets $4.25-million Boost From Federal Government
University of Calgary's newly formed Centre for Far‑From‑Equilibrium Nanostructured Cleantech Materials (CeFar) received a CAD 4.25 million (≈US 3.1 million) grant from the Canada Foundation for Innovation. The funding will expand CeFar’s ten labs across the Schulich School of Engineering and Faculty of Science,...
BKR Capital Secures Initial $20 Million for Second Black Innovation Fund
BKR Capital announced the initial close of its second Black Innovation Fund with CAD 20 million (about US$14.6 million) of commitments. The firm aims to raise a total of CAD 50 million (≈US$36.5 million) to back roughly 25 Black‑led technology companies, issuing first checks of CAD 250 k‑1.5 million....
Canadian Companies Make Their Case at Nvidia’s GTC Conference
At Nvidia’s GTC in San Jose, several Canadian firms announced AI‑focused collaborations leveraging Nvidia hardware. Cohere unveiled custom large‑language models optimized for Nvidia’s DGX Spark, while Kepler Communications detailed its satellite constellation powered by 40 Jetson Orin modules for on‑orbit...
Five Canadian Scaleups Crack Thrive Top 50 AgTech Companies List
California‑based Thrive, the AgTech accelerator of SVG Ventures, released its 2026 Top 50 AgTech Companies list, highlighting five Canadian scaleups as leading innovators. The companies—4AG Robotics, BinSentry, Vive Crop Protection, Entosystem and Milk Moovement—were selected based on funding, revenue growth,...
“We’re in a Moment in Canada”: Solomon Brings AI Pitch to Platform Calgary
Federal AI minister Evan Solomon addressed roughly 200 founders, investors and entrepreneurs at Platform Calgary, underscoring a pivotal moment for artificial intelligence in Canada. He outlined the upcoming release of an updated national AI strategy, built on a task‑force roadmap...
1Password Launches New Platform to Rein in Companies’ AI Agents
1Password unveiled its Unified Access Platform, a security layer designed to monitor and control AI agents within corporate environments. The solution automatically discovers AI‑driven tools, secures exposed credentials, and enforces continuous authorization. It also records every action taken by both...
YScope Closes $3.9 Million USD to Track Computer Activity Amid the Rise of Agentic AI
Toronto‑based YScope, a spinout from the University of Toronto, announced a $3.9 million USD financing round led by Two Small Fish Ventures to accelerate its Compressed Log Processor (CLP) platform. CLP enables organizations to compress, store, and search petabyte‑scale log data...
How Ontario’s Innovation Hubs Scale Startups Across the Province
Innovation Factory, a regional innovation centre in Hamilton, is part of Ontario’s network of more than a dozen accelerators that aim to eliminate geographic barriers for startups. Since 2010 it has worked with over 3,600 companies, attracting $220 million in investment,...
Platform Calgary Appoints Jennifer Lussier as CEO
Platform Calgary announced Jennifer Lussier as its new chief executive, confirming her appointment after serving as interim CEO since October 2025. Lussier previously held the roles of vice‑president of growth and chief operating officer, bringing more than three decades of...
Tailscale Makes First Acquisition with Border0 Purchase
Tailscale announced its first acquisition, buying Vancouver‑based privileged access management startup Border0. The seven‑person Border0 team, including founder Andree Toonk, joins Tailscale, expanding its engineering footprint in Vancouver. The deal adds deeper application‑layer access controls and session visibility to Tailscale’s...
Citing Market Conditions, Loopio Cuts 12 Percent of Staff
Loopio, the Toronto‑based B2B RFP software provider, announced a 12 percent workforce reduction in March, cutting roughly 36 positions and bringing headcount to 260. The layoff follows a series of previous cuts in 2020, 2023 and 2024, as the company...
Wyvern Launches International Partnerships in Agtech, Oil and Gas
Wyvern, an Edmonton‑based hyperspectral imaging startup, announced two international deals: a reseller agreement with Saudi Arabia’s Neo Space Group (NSG) to deliver its Dragonnette satellite data through the UP42 marketplace, and a direct customer contract with U.S. firm Orbital Advisors...
University of Calgary Researchers Use AI to Hunt New Treatments for Cattle Parasites
University of Calgary researchers have secured a $1.4 million NSERC grant to apply AI‑driven genomics in the hunt for new anti‑parasitic drugs targeting roundworms in beef cattle. By sequencing helminth genomes and screening large chemical libraries, the team has already identified...
Manitoba Launches AI Consultations as It Weighs Tougher Privacy and Youth Protections
Manitoba’s government announced public consultations to shape future AI regulations. The process will address modernizing data‑privacy statutes and establishing responsible‑AI rules, including possible age limits and opt‑in consent for personal data. Consultations target Manitobans, Indigenous governments, educators, researchers, municipalities and...
Femtum Thinks Its Semiconductor Cutting Lasers Are Better than Yours
Quebec‑based startup Femtum announced an oversubscribed CAD 16 million Series A round, led by BDC Capital and joined by FTQ, Cathay Venture and other backers. The company’s flagship laser cleaning and trimming system claims to cut chip power consumption by 20‑40 % while boosting...
BDC Expands Defence Platform to $6 Billion and Names a StrongNorth Fund Leader
The Business Development Bank of Canada (BDC) announced a $1.2 billion CAD federal top‑up, raising its Defence Platform capacity to $6 billion. The additional funding brings total government support for the platform to $2.2 billion, aimed at Canadian SMBs in the defence sector....
NanoTess Lands Embecta Deal to Put Its Tech in 14,000 Canadian Pharmacies
Calgary‑based NanoTess has signed a distribution agreement with diabetes‑care company Embecta to place its NanoSALV Catalytic gel in more than 14,000 Canadian pharmacies. NanoSALV, authorized by Health Canada in 2022, uses micron‑scale catalytic particles to speed cellular reactions, reduce inflammation...
Ontario Teachers’ Venture Growth Portfolio Posts 30 Percent Gains in 2025
Ontario Teachers’ Pension Plan’s Teachers Venture Growth (TVG) unit delivered a 30.2% return in 2025, far outpacing its 18.5% benchmark. The fair value of TVG’s net investments jumped to C$15.3 bn, up from C$10.4 bn a year earlier, as stakes in SpaceX,...
Plurilock Eliminates CTO and COO, Cuts Exec Pay as Part of Profitability Push
Plurilock, a Victoria‑based cybersecurity firm, eliminated its CTO and COO positions and imposed a 30% cut to executive compensation to accelerate profitability. The restructuring is projected to save about $900,000 annually, funds that will be redirected to sales and market‑development...
OSFI’s Fast Track Framework Is a Wake-Up Call for Canadian Banks
The Office of the Superintendent of Financial Institutions (OSFI) has unveiled a Fast‑Track framework designed to streamline approvals for new banking and bank‑like activities in Canada. The new rules clarify capital, liquidity and supervisory expectations for deposit‑taking, credit‑card issuance, mortgages...
Janet Bannister’s Staircase Ventures Closes $50-Million Second Fund
Staircase Ventures announced the close of its second fund at CAD 50 million, surpassing the original CAD 40 million target despite a challenging Canadian VC environment. More than 80% of limited partners from the first fund returned, joined by new institutional investors such as...
Dominion Dynamics Says It Will Invest $50 Million to Build a “Sovereign Autonomous Wingman”
Dominion Dynamics, an Ottawa‑based defence startup, announced a CAD 50 million investment to develop an Autonomous Collaborative Platform (ACP), a sovereign “autonomous wingman” that will operate alongside manned fighters. The company plans to deliver a sub‑scale prototype within 24‑36 months, leveraging advanced...
How Gaiia Used Its R&D to Help Finance a Pivot From Services to Software
In early 2023, Quebec‑based Oxio sold its ISP business to Cogeco for $100 million and rebranded as Gaiia, a software platform for challenger ISPs. The spin‑out entered a seed round of $13 million, but with less than $1 million in revenue and a...
UniUni Raises $85 Million USD as It Scales Gig-Powered Delivery Across North America
UniUni, the Richmond‑based gig‑powered last‑mile logistics platform, announced an $85 million financing package comprising a $30 million equity round led by Rockets Capital and a $55 million credit facility from the Royal Bank of Canada. The capital will fund advanced sorting equipment, boost...
Ssense Cut More than 200 Jobs Days After Founders Won Bid to Buy Back Company
Ssense, the Montreal‑based luxury fashion e‑commerce platform, announced layoffs of 215 employees on February 6, cutting 169 warehouse staff and 46 office workers. The cuts came two days after a Quebec Superior Court approved a $78 million founder‑led buyback, rejecting lenders’...
CVCA and NACO Offer Competing Visions for Feds’ $750-Million Venture Envelope
The Canadian government has earmarked $750 million to bridge early‑growth funding gaps, complementing a $1 billion Venture and Growth Capital Catalyst Initiative. The Canadian Venture Capital & Private Equity Association (CVCA) urges the money be directed toward Series B‑plus companies to address a...
Syantra’s Breast Cancer Blood Test Isn’t Looking for Cancer at All
Syantra, a Calgary‑based biotech, is preparing to launch Onco‑ID, a breast‑cancer blood test that detects the body’s immune response rather than circulating tumor DNA. Using machine‑learning analysis of gene‑expression biomarkers, the test aims to identify cancer earlier than mammography and...
Kraken Dives Deeper Into Defence with $615-Million Covelya Group Acquisition
Kraken Robotics announced a $615 million acquisition of the UK‑based Covelya Group, creating a combined subsea technology powerhouse. The deal, slated to close in Q2 2026, will give Kraken over 450,000 sq ft of production capacity and roughly 1,200 employees worldwide. Covelya’s portfolio of...
What’s Powering the Algorithm that Gets You a Good Night’s Sleep?
NovaResp Technologies has developed an AI‑driven algorithm that predicts obstructive sleep apnea events before they occur, allowing CPAP devices to intervene gently and avoid abrupt pressure spikes. The predictive software, trained on patient breathing patterns, completed two clinical trials and...
Landing Zones Canada’s AI-Enhanced Drones Get Upgrade with $1.1-million Investment
Landing Zones Canada secured a $1.1 million repayable investment from Prairies Economic Development Canada under the Regional Artificial Intelligence Initiative. The funding will upgrade the AI that powers its high‑altitude GITPO Remotely Piloted Aircraft System, improving autonomous return‑to‑base functions. The upgrade...
Wealthsimple Becomes First Canadian FinTech to Join SWIFT Network
Wealthsimple has become the first Canadian fintech to gain direct membership in the global SWIFT network, allowing it to send and receive international wire transfers without intermediaries. The integration will launch this spring with a flat $15 fee for outgoing...
Manitoba Looks to Spur More Investment with Tax Credit Ceiling Raise
Manitoba announced an $8 million increase to its Small Business Venture Capital Tax Credit, raising the annual cap from $22 million to $30 million. The province also broadened the credit by recognizing SAFEs, lowering the minimum investment to $5,000, and extending eligibility to...
Damon CEO, CFO, and Board Resign Following Prolonged Struggle on Public Markets
Vancouver‑based electric motorcycle maker Damon Motors announced the resignation of its entire board, including founder‑CEO Dom Kwong and CFO, following a tumultuous public‑market debut. After a 13‑month reverse‑merger that took the company public on NASDAQ in November 2024, its share...
CCI Wants Governments to Buy More Canadian Healthtech
The Council of Canadian Innovators (CCI) released a report urging federal and provincial governments to revamp health‑tech procurement and data practices. It calls for a "Buy Canadian" approach, value‑based purchasing, and a national digital‑health market that prioritises interoperability and lifecycle...
YSpace, York University Open the Door Between Canada and Korea’s Tech Ecosystem
YSpace, the entrepreneurship hub at York University, has signed two memorandums of understanding with South Korea’s Korea Business Angels Association and the Seoul AI Hub. The agreements give YSpace a formal mandate to help Korean startups enter Canada and to...
How PeerSupport.io Is Helping Yukon Docs Send Referrals Using only Their Voice
PeerSupport.io, a Yukon health‑tech startup, launched CoWork, an autonomous AI browser that executes EMR and web‑based tasks through voice commands. In pilot clinics the tool can send referrals, renew prescriptions, and pull charts in under 11 seconds, delivering roughly 10.5...
Real Estate Investment Platform Addy Enters Restructuring One Year After Fine From Regulators
Vancouver‑based fractional real‑estate platform Addy announced it is restructuring its business, engaging Dentons and Crowe MacKay to guide an orderly transition. The move follows a 2025 $100,000 fine from the British Columbia Securities Commission for trading $26 million of securities without...
How Stay22 Went From Pandemic Freefall to One of Montréal Tech’s Biggest Growth Stories
Montreal‑based travel content platform Stay22 announced a $122 million minority equity round from Summit Partners, its first external funding since the pandemic. After losing 90% of revenue in 2020 and cutting two‑thirds of its staff, the company pivoted to creator‑focused travel...
U of T Taps BioLabs to Take over Incubator After Johnson & Johnson Pulls Support
The University of Toronto has partnered with Cambridge‑based BioLabs to operate its 40,000‑square‑foot life‑sciences incubator after Johnson & Johnson announced it will withdraw support by the end of 2025. BioLabs, entering Canada for the first time, will manage the space...
NordSpace Launches Venture Arm with Strategic Investment in Wyvern
Canadian aerospace firm NordSpace announced the creation of NordSpace Ventures, a dedicated investment arm targeting space, defence, and dual‑use technologies. Its first portfolio company is Edmonton‑based Wyvern, which operates the high‑resolution Dragonette satellite constellation and is developing next‑generation Rosette satellites...
Can Canada Find Digital Sovereignty in the Fediverse?
At the inaugural FediMTL conference in Montreal, Canadian developers and activists gathered to champion the Fediverse as a path to digital sovereignty. The decentralized social web, built on the open‑source ActivityPub protocol, offers alternatives to US‑owned platforms such as Facebook,...
As Vacancies Rise, Padder Aims to Insure Rent Payments for Tenants Who May Not Fit the Traditional Mould
Toronto‑based insurtech Padder closed a CAD 2.5 million seed round to launch its guarantor‑as‑a‑service platform for Ontario landlords. The service acts as a co‑signer, underwriting renters with non‑traditional financial profiles using more than 100 data points. Approved tenants receive a rent‑insurance policy...
CoeusAI Establishes Dutch HQ After Landing Major Offshore Energy Gig
CoeusAI, a Canadian cleantech AI startup, has opened a Rotterdam headquarters after being chosen as the sole Canadian participant in the North Sea Energy (NSE) programme. The firm will work across five NSE streams, using AI to site offshore wind,...
L-Spark Completes Its First Cohort as a Corporate Accelerator
After a decade of running SaaS‑focused cohorts, Ottawa‑based L‑Spark rebranded as a corporate accelerator in April 2025, matching startups with large enterprises. Its inaugural Mitel Unified Communications Accelerator showcased eight companies from North America and Europe that extended Mitel’s AI...
Business Leaders Urge Ottawa to Extend Employee Ownership Tax Incentive
Business leaders, including CEOs of BMO, Scotiabank and tech firms, have urged the Canadian government to make permanent the employee‑ownership trust (EOT) capital‑gains tax incentive introduced in the 2023 budget, which provides up to $10 million in tax relief. The incentive...
New Trade Association Aims to Give Domestic SMBs a Shot in Canada’s “Defence Renaissance”
The Alliance of Canadian Defence Companies (ACDC) launched today as a coalition of emerging defence technology firms seeking a unified voice in Ottawa. Co‑chairs Eliot Pence and Paul Ziadé argue that Canada’s ambitious procurement targets require clear representation from Canadian‑owned...
A16z Speedrun Alum General Magic Secures $7.2 Million USD to Make Calling Your Insurance Company Less of a Slog
Toronto AI startup General Magic announced a $7.2 million financing round led by Radical Ventures with participation from a16z Speedrun and several angel investors. The company’s agentic AI texting platform automates insurance customer interactions across quoting, coverage queries, and claims, promising...
Court Filings Reveal Sheertex Maker’s Steep Losses Ahead of Insolvency
Montréal‑based Sheertex maker SRTX filed for insolvency and agreed to sell key assets to fellow Québec hosiery firm AYK International. Court filings reveal revenue peaked at $45.5 million in 2023, dropped to $27.9 million in 2024 and generated only $7.6 million in the...