Xanadu and CMC among partners in academic quantum projects receiving $7.4 million in federal grant funding
Three quantum projects from professors in Québec’s Institut National de la recherche scientifique (INRS) are receiving $7.4 million in funding from the Natural Sciences and Engineering Research Council of Canada (NSERC). The projects, funded through NSERC’s Alliance Advantage grants program, aim to enhance quantum communication, computing, and sensing capabilities with photonics and other quantum technologies. […]
RetiSpec secures $13.8 million Series A to detect Alzheimer’s early through retinal imaging
Toronto-based RetiSpec has closed $10 million USD ($13.8 million CAD) in Series A financing to commercialize its technology that looks to detect neurodegenerative diseases early through an eye test. The round was led by Toronto-based venture capital firm iGan Partners with participation from strategic investors that include American pharmaceutical giant Eli Lilly and New Jersey-based […]
Airwallex continues Canadian expansion with Float partnership
Airwallex has partnered with Toronto-based corporate card and expense management technology startup Float. Airwallex officially launched its global payments services in Canada last year. The Australian-founded, Singapore-headquartered FinTech firm Airwallex is powering Float’s new bill pay product, which was launched in June. The partnership, which Airwallex announced yesterday, marks another step in Airwallex’s efforts to […]
Looking for a job? Try a company that makes money
These days, when Anne Ngo sits down to interview a candidate, she gets questions about how her company thinks about runway and growth. The Director of Talent Acquisition at Toronto-based Carbon6 said job seekers used to ask her about compensation and company perks. But recently, a different set of priorities has emerged. “Employees are looking […]
Nascent AI user research startup Cycle acquired by US blockchain platform Crossmint
Less than six months after its launch, Toronto artificial intelligence (AI) user research startup Cycle AI has been purchased by Miami-based enterprise blockchain platform Crossmint. Crossmint has acquired Cycle’s technology and tools as part of the all-cash deal. Cycle and Crossmint both declined to disclose the acquisition price to BetaKit. Cycle co-founder and CEO Conor […]
BC’s Centre for Innovation and Clean Energy invests $7.6 million across nine companies following call for innovation
The British Columbia (BC) Centre for Innovation and Clean Energy (CICE) has invested $7.6 million in non-dilutive funding across nine companies, out of more than 200 applicants, as part of its 2024 call for innovation. CICE says it has invested $31 million across 47 clean energy and climate technology projects to date. CICE’s commitments vary […]
Cohere lays off five percent of staff a day after announcing $500-million USD Series D
Shortly after announcing $500 million USD in Series D funding, Toronto-based generative artificial intelligence (AI) startup Cohere laid off approximately five percent of its employees. These staff cuts took place yesterday and impacted around 20 of the enterprise-focused OpenAI competitor’s 400-person workforce across multiple offices. The layoffs were first reported by Fortune and have since […]
Y Combinator grad Gumloop secures $3.1 million in seed funding to grow no-code automation tool
Vancouver-based Gumloop, which offers a no-code platform to automate workflows with artificial intelligence (AI), has secured a $3.1-million seed round. Gumloop is now looking to grow its team but “stay lean.” The round was led by San Francisco venture capital firm First Round Capital with participation from Y Combinator and a variety of angel investors, […]
Giving Canadians a fair shake
In recent months, residents of British Columbia and Alberta might have noticed a brightly wrapped, modestly-sized blue caravan cruising the local streets. The “Shakemobile,” as it’s known, is on a cross-country tour to engage with Canadians who are feeling the squeeze of inflation and high interest rates. The “Inflated Tour” stops at small-town businesses, grocery […]
California-based Agilent Technologies agrees to buy Biovectra for $1.3 billion CAD
Santa Clara, Calif.-based biopharma firm Agilent Technologies has agreed to purchase Charlottetown, PEI.’s Biovectra from HIG Capital for $1.27 billion CAD ($925 million USD). Agilent said Biovectra delivered $113 million USD in revenue during 2023 and expects double-digit revenue growth in 2024. The deal, which will see Agilent acquire all of Biovectra’s employees and sites […]