Sonder faces class action investigation after delaying financial results due to errors in past statements
Montréal-founded, San Francisco-headquartered Sonder, which leases and manages a portfolio of short-term rental units, has announced that it is delaying the release of its fourth quarter and full year 2023 financial results. In a March 15 statement, Sonder said it recently identified “accounting errors related to the valuation and impairment of operating lease right of […]
Ocean tech startup Poseidon raises $28-million CAD Series B to make fish farming more eco-friendly
Campbell River, British Columbia-based Poseidon Ocean Systems has closed a $28-million CAD ($20.75 million USD) Series B round of funding. The round was led by Ecosystem Integrity Fund, a sustainability-focused venture capital fund, with participation from InBC and returning investor Export Development Canada. In a statement, Poseidon CEO Jamie Gaskill called the round an “inflection […]
Google Canada provides $2.7 million in research grants to major Canadian AI institutes CIFAR, Amii, CEIMIA
Google Canada is doling out $2.7 million CAD in research grants to three major Canadian artificial intelligence (AI) institutes. The Canadian Institute for Advanced Research (CIFAR), the Alberta Machine Intelligence Institute (Amii) and the International Center of Expertise of Montreal on AI (CEIMIA) will each receive a portion of the grant funding aimed at supporting […]
Nuvei stock rises as company confirms discussions following report of potential buyout
In a late March 17 statement, Nuvei confirmed that it is in talks with “certain third parties” about a potential takeover transaction that could lead to the Montréal payments company going private transaction. The statement followed a March 16 report from The Wall Street Journal that Boston-based private equity firm Advent International is in advanced […]
Alberta gains on Québec in venture activity
There are plenty of insights to mine from Torys’ recently released annual Venture Financing Report. Topline, Canadian venture deal activity in 2023 mimicked the down market of 2022, and overall deal volume fell 14 percent last year. Notably, early- and mid-stage financings were down 37 percent last year. Meanwhile, later-stage companies experienced a softer decline […]
Cyber Security Today, March 18, 2024 – Fix this Python vulnerability, patch these industrial control system products, the latest data breaches and more
Fix this Python vulnerability, patch these industrial control system products, the latest data breaches and more. Welcome to Cyber Security Today. It’s Monday, March 18th, 2024. I’m Howard Solomon, contributing reporter on cybersecurity for ITWorldCanada.com and TechNewsday.com in the U.S. I’m back after some time away. A big thanks to Jim Love for doing […]
Apple buys Canadian AI startup: Hashtag Trending for Monday March 18, 2024
Apple buys a Canadian artificial intelligence startup, a new chip could promises to decrease costs and reduce the environmental footprint of AI, Citrix angers its partners and clients as rumours of new pricing and product bundling hit the street and are tech layoffs the “new normal?” All this and more on the “how to lose […]
F|T: The FinTech Times – Minerva chases anti-money laundering big leagues
Welcome to the FinTech Times, a weekly newsletter covering the biggest FinTech news from around the globe. If you want to read F|T before anyone else, make sure to subscribe using this form. Minerva thinks it can stop the flow of dirty money faster with AI In Canada, intelligence agencies estimate between $45 billion and […]
The BetaKit Keynote Stage lands in Vancouver for INNOVATEwest 2024
The BetaKit Keynote Stage is heading west, set to host captivating conversations with tech leaders at INNOVATEwest 2024. On April 16 and 17 at the Vancouver Convention Centre, the inaugural INNOVATEwest is set to unite technology enthusiasts, enterprise leaders, and corporate visionaries, to showcase industry insights from established and budding tech enterprises. Use the code […]
These three FinTech companies are hiring in Canada
It’s already shaping up to be a big year for FinTech in Canada. Open banking legislation is coming this spring, new entrants are setting up shop, and at least one Canadian FinTech startup is putting itself on the path to becoming the country’s next licensed bank. Given all this movement in the sector, it’s no […]