Federal government’s massive $2 billion CAD loan to Telesat sparks Elon Musk debate between ministers
The federal government’s recent commitment to a homegrown satellite communications company has kicked off a conversation about government spending, national sovereignty, and Elon Musk. Ottawa-based satellite company Telesat secured a $2.14-billion CAD loan from the Canadian government and a $400 million loan from the Québec government last week. The combined financial boost totalling $2.54 billion […]
AI startups dominate latest Google for Startups Accelerator’s Canadian cohort
Google has revealed the 14 startups joining the 2024 cohort of its Canadian accelerator program, and artificial intelligence (AI) is front and centre in this year’s lineup of participants. Now in its fifth year, the Canadian iteration of the Google for Startups Accelerator offers startups a mix of remote and in-person learning over 10 weeks. […]
Exclusive: ApplyBoard secures $100 million CAD credit facility to fuel global expansion
Kitchener-Waterloo startup ApplyBoard has secured a $100 million CAD credit facility to “triple down on growth,” CEO Meti Basiri told BetaKit in an exclusive interview. To do that, the educational technology company will place less emphasis on English-speaking countries. RBCx, the tech banking and innovation arm of Canada’s largest bank, issued the credit facility to […]
Two years after pivot to international financial management, Loop has processed over $1 billion in payments
Two years after pivoting from peer-to-peer lending to international financial management, Toronto-based FinTech platform Loop has announced a $6.4-million CAD seed extension. The all-equity, all-primary extension, which a Loop spokesperson told BetaKit closed in May, was co-led by returning investors Mistral Ventures and Graphite Ventures, and new investors Luge Capital, Wedbush Ventures, and Conconi Growth […]
Evaluating our 2024 tech predictions as Q4 approaches.
It’s now September and that means the year is almost over. The kids are back in school, cottage long weekends are long gone, and Q4 approaches. It feels like prime time to reflect on what has transpired so far in 2024 before we say hello to 2025. Thankfully, The BetaKit Podcast dropped two episodes featuring […]
PathPresenter to establish subsidiary in Waterloo Region following Series A round
PathPresenter, a Montville, NJ-based pathology and artificial intelligence (AI) startup led by a Canadian CEO, is planning to establish a physical presence in Canada following a $7.5-million USD Series A round of funding. The startup offers a platform designed to help hospitals, labs, and pharmaceutical companies streamline pathology workflows, share images, and improve diagnostic accuracy […]
Armed with $2 million CAD, SecondShop launches B2C ‘re-commerce’ platform to change how Canadians buy secondhand
Toronto-based retail and logistics startup SecondShop has officially launched the B2C side of its re-commerce platform, which aims to make shopping for secondhand goods as easy as buying from mainstream retailers. The launch comes roughly five months after the Toronto-based startup closed a previously unannounced $2-million CAD seed financing led by Harvest Venture Partners. Several […]
Pablo Srugo wanted to be “insanely rich.” It killed his startup.
What happens when it doesn’t work out? At BetaKit, we cover fast-raising and fast-scaling companies. It’s the nature of the industry. But for every fast-scaling startup successfully chasing that exit, there are five more that have it in the palm of their hand, only to see it slip away. Subscribe: Apple Podcasts, Spotify, YouTube, Overcast, […]
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 […]