Private equity firm Novacap raises more than $1-billion USD for first digital infrastructure fund
Montréal-based private equity firm Novacap has raised more than $1-billion USD ($1.43-billion CAD) for its first fund dedicated entirely to investing in digital infrastructure. New fund has already deployed capital in four companies. Novacap said in a statement that the new fund exceeded its fundraising target, and is backed by undisclosed existing and new institutional […]
Amazon to close all Québec facilities, hand over delivery to third parties
Retail giant Amazon is ending its operations in Québec, closing seven operation sites and cutting roughly 1,900 jobs, according to Radio-Canada. It will continue to deliver orders to customers in Québec through third-party distributors, similar to how it operated in 2020, the company said. A total of seven operation sites near Montréal and its surrounding […]
Canadian quantum commercialization and research projects get federal funding boost
Canada’s quantum sector just got a big boost this week as more than 100 quantum projects are receiving nearly $80-million in combined federal funding. Canada’s federally funded Digital Innovation Cluster (DIGITAL) is investing $4.7-million across three commercialization projects led by autonomous farming software company Verge Ag, cybersecurity maker Quantum Bridge Technologies, and quantum computing firm […]
Xanadu claims networking breakthrough with new photonic quantum computer Aurora
Toronto-based quantum computing company Xanadu claims that it has figured out how to network quantum computers together, one of the key challenges facing the industry. Xanadu introduced its new photonic quantum computer Aurora today. Aurora, which builds on Xanadu’s previous X8 and Borealis systems, consists of four modular and independent server racks that are photonically […]
Shopify quietly kills Indigenous entrepreneurship program Build Native
Multiple websites related to Shopify’s Equitable Commerce programs are no longer active following the recent departures of the company’s Equitable Commerce and Build Native leads, BetaKit has learned. Pages for the Build Native with Shopify, Empowered by Shopify, and Social Impact programs are no longer live on Shopify’s site. The Internet Wayback Machine indexed archived […]
Your “mouth commands attention”: Boardy CEO apologizes after emphatic negative response to Trump-themed marketing miss
Boardy CEO Andrew D’Souza has issued an apology after his new artificial intelligence (AI) networking tool commented on the appearances of its users in the style of US President Donald Trump. On the morning of Jan. 20, inauguration day in the United States, D’Souza posted on LinkedIn that users who have used Boardy should check […]
Paper looks to rebound from turbulent 2024 with new CEO Martina Tam
Embattled edtech startup Paper has appointed Silicon Valley edtech veteran Martina Tam as CEO following a whirlwind 2024. “The market has changed, and so must Paper.” Rich YangPaper Tam brings experience from various San Francisco-based tech companies, including early education platform Brightwheel where she served as the chief operating officer and interim chief growth officer. […]
Federal government provides $3.5 million for DMZ’s new Centre for Housing Innovation
Toronto-based incubator DMZ has received $3.5 million from the federal government to establish the Centre for Housing Innovation (CHI), a new hub that will provide a training program and a housing-focused accelerator. The funding, which comes from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), aims to establish CHI as a central hub […]
Moment Energy raises $21.5-million Series A amidst tough funding climate for cleantech hardware startups
British Columbia (BC)-based startup Moment Energy has secured a $15-million USD ($21.5-million CAD) Series A round as it continues to load up funding for its planned gigafactory in the United States. A gigafactory refers to a facility designed for the production of batteries, particularly those used in electric vehicles (EVs). Moment’s new facility will be […]
Canadian tech is locked in on election season
‘Tis the season for stump speeches. I’m writing to you from my newsletter bunker shortly after former finance minister Chrystia Freeland and government House leader Karina Gould announced their candidacy for Liberal party leader. Along with Mark Carney and a host of other candidates (but not Innovation Minister François-Philippe Champagne), they are running for the […]