Category: Tech News

Liberal leadership candidates signal party pivot on capital gains tax rate changes

Candidates vying for the Liberal leadership race are reversing course on the party’s controversial capital gains tax rate changes announced in last year’s budget.  Former Finance Minster Chrystia Freeland’s team confirmed this week that she would not go forward with the policy she once championed, while notable candidates such as former Bank of Canada governor […]

Innovation Minister says Canada will review business relationship with Amazon following Québec retreat

Canada’s Minister of Innovation, Science and Industry François-Philippe Champagne said he will review the country’s business relationship with Amazon following the company’s decision to pull out of Québec. Earlier this week, the retail giant announced it would close seven operation sites and cut roughly 1,900 jobs in Québec, including 250 recently-unionized warehouse jobs, over the […]

Wound care device maker MolecuLight secures $39.5 million CAD from UK-based Hayfin

Toronto-based medtech company MolecuLight has secured $27.5 million USD ($39.5 million CAD) in financing to expand its global footprint and introduce new features to its wound bacteria-detecting devices.    London, UK-based investment firm Hayfin Capital Management was the sole investor. MolecuLight did not respond to a request for comment about the financing breakdown, including primary and […]

AstraZeneca to invest $820-million CAD in Ontario facilities expansion

British pharmaceutical giant AstraZeneca is investing $820-million CAD in Canada to support its move into a larger office in the Greater Toronto Area.  AstraZeneca said the investment will create more than high-value 700 jobs across all areas of its business, and contribute to its goal of bringing 20 new medicines to patients around the world […]

Street Context acquired by American market intelligence firm BlueMatrix for undisclosed amount

Toronto-based Street Context has been acquired by fellow market intelligence platform BlueMatrix for an undisclosed amount.  Both firms provide offerings meant to centralize and manage communications and intelligence around investments and the capital markets. The combined company will integrate authoring, financial data, and consumption analytics into a unified platform, BlueMatrix said in a statement, adding […]

QueerTech launches new 2SLGBTQIA+ accelerator and names Virtual Gurus’ Bobbie Racette board chair

Montréal-based nonprofit QueerTech has launched a new accelerator for Canadian entrepreneurs who identify as members of the 2SLGBTQIA+ community. The move follows QueerTech’s early 2024 acquisition of Toronto’s Gradient Spaces, which offered similar programming for 2SLGBTQIA+ founders. Applications close on Fri. Jan. 24. QueerTech has also named Virtual Gurus founder and CEO Bobbie Racette, an […]

Basetwo closes $16.5-million CAD Series A round to optimize manufacturing with AI copilots

Toronto-based Basetwo has closed a $11.5 million USD ($16.5 million CAD) Series A round for its artificial intelligence (AI)-powered copilot for manufacturing engineers.  The software-as-a-service (SaaS) startup is trying to solve tech inefficiencies in large-scale chemical manufacturing. Basetwo says its AI platform can cut energy consumption and costs for the mass production of pharmaceuticals, consumer […]

Atlantic Canada’s startups are finding creative ways to grow

When Axtion founder and CEO Tracey McGillivray’s father started falling at the age of 82, he was never hurt on the way down. Getting back up proved to be the bigger problem. McGillivray’s mother, barely a year younger, wasn’t strong enough to help him. When no one was home, they would call 911 or plead […]