Xatoms, Permalution among 10-startup RBC Women in Cleantech accelerator cohort
Toronto tech hub MaRS announced the 10 entrepreneurs participating in the latest cohort of the RBC Women in Cleantech Accelerator this week. The new cohort includes the founders of Xatoms, Permalution, SkyAcres Agrotechnologies, Synoro Medical Technologies, TerraFixing, CERT Systems, Seedark, ALT-PRO Advantage, Seacork Studio, and Viridis Research. “To respond to the complex issues of climate […]
Coveo snags SIF investment as AI project funding flows during ALL IN 2024
This week, the federal government and one of the federally-backed Canadian innovation clusters announced a number of financial commitments for artificial intelligence (AI) projects across the country at the second annual ALL IN conference held in Montréal. Canada’s Minister of Innovation, Science and Industry, François-Philippe Champagne, announced that the federal government will provide $15.2 million […]
BDC appoints Geneviève Bouthillier as head of BDC Capital
The Business Development Bank of Canada (BDC) has promoted Geneviève Bouthillier to executive vice president (EVP) of BDC Capital, Canada’s largest and most active VC investor. The news was first reported by The Logic this morning and then announced by BDC president and CEO Isabelle Hudon and Bouthillier via LinkedIn posts. A BDC spokesperson confirmed […]
Ecomtent closes $1.15 million CAD in pre-seed funding for its AI-powered content generator
Toronto-based artificial intelligence and e-commerce startup Ecomtent has closed $1.15 million CAD ($850,000 USD) in pre-seed funding as it looks to continue scaling its AI-powered content generator for retailers. The funding was led by MaRS Investment Accelerator Fund (MaRS IAF), with participation from Techstars, eBay Ventures, and undisclosed angel investors that include executives from the […]
BDC writes down venture capital portfolio by $220 million in annual report
The Business Development Bank of Canada (BDC) has reported a significant loss in value for its venture capital portfolio in its latest annual report. According to its report, BDC’s VC division authorized a total of $403.6 million in investments during fiscal 2024 (which encompasses the year ended March 31, 2024). This is a decrease from […]
Zūm Rails moves recently-named CEO Miles Schwartz to Miami to lead US growth initiative
Montréal-founded FinTech startup Zūm Rails has announced the permanent relocation of its new CEO Miles Schwartz from Canada to its newly established United States (US) headquarters in Miami, Florida. After taking his talents to South Beach, Schwartz will lead the company’s new US growth initiative. Zūm Rails said it will continue scaling its work in […]
Global trends report shows AI adoption still lags in Canada
A new report, shared at the ALL IN conference in Montréal on Wednesday by data platform company WEKA, reveals key findings on the lagging adoption of artificial intelligence (AI) in Canada. “Global AI demand is outpacing access to AI accelerators and GPUs needed to power AI projects.” The study, conducted by S&P Global Market Intelligence, […]
Disaster restoration startup Kahi looks to solve “adversarial relationship” between insurance companies and subcontractors with IoT
After a disaster like a hurricane, flood, or fire ravages a building, someone’s gotta clean it up. That’s why insurance companies bring in a disaster restoration subcontractor, who use professional-grade climate control equipment like dehumidifiers, heaters, and air movers to dry an environment so property owners can get their building back. But the lack of […]
Canadian AppDirect co-founder launches Landbase with Inovia, Desmarais family backing
Daniel Saks, the Canadian entrepreneur who co-founded software firm AppDirect, has launched his latest venture, Landbase, out of stealth with $12.5 million USD in seed financing. Landbase is developing an artificial intelligence (AI)-powered platform that allows companies to automate, unify, and optimize their go-to-market processes. The company, like Saks’ previous venture AppDirect, is headquartered in […]
OMERS Ventures to be moved under new Private Capital group run by Michael Block
After OMERS Ventures managing partner and global head of ventures Damien Steel left for a portfolio company, industry observers speculated to BetaKit that the Canadian pension fund would soon roll its venture capital (VC) arm under the leadership of Michael Block. Almost one year to the day, that prediction has come true. On September 10, […]