Feds announce VCCI renewal, SR&ED and pension fund changes ahead of Fall Economic Statement
The Government of Canada has announced a fourth, $1-billion CAD round of funding for the Venture Capital Catalyst Initiative (VCCI) among a slew of other initiatives and updates ahead of its delayed Fall Economic Statement. Under VCCI, the federal government provides one dollar for every three dollars raised by select indirect fund managers up to […]
Google’s quantum leap, Hinton’s Nobel Prize, and Medicago’s second shot
QUIZ START Feature image courtesy The Nobel Foundation via YouTube. The post Google’s quantum leap, Hinton’s Nobel Prize, and Medicago’s second shot first appeared on BetaKit.
Ackroo to be acquired by fellow payments processor Paystone for $21 million
Toronto Venture Stock Exchange (TSXV)-listed Ackroo has agreed to be acquired by London, Ont.-based Paystone, a fellow marketing, payment, and point-of-sale (POS) solutions company. The all-cash transaction will see Paystone acquire all of the issued and outstanding shares of Ackroo at a price of $0.15 CAD per share, as well as assume all of its […]
The Canadian Space Mining Corporation thinks it can put a nuclear reactor on the moon by 2029
An international collaborative mission to return humans to the moon is underway, and the Canadian Space Mining Corporation (CSMC) is taking steps to be part of the team. “This is a technology Canada developed, which no one has tried to commercialize in 40 years.” Dan SaxCSMC At the end of November, Toronto-based space tech startup […]
D-Wave completes $175-million USD stock sale to fuel quantum computing development
D-Wave Quantum has raised $175 million USD ($246 million CAD) in gross proceeds through a recent stock sale. The Canadian-founded, New York Stock Exchange (NYSE)-listed quantum computing company plans to use this capital to fuel its technical development efforts and business operations. Following this financing, D-Wave expects to close out 2024 with at least $160 […]
Flare raises $42.5 million CAD Series B to go global with cyber threat detection tech
Montréal-based Flare has raised $30 million USD ($42.5 million CAD) in Series B financing to scale its cybersecurity threat monitoring software in North American and European markets. The all-primary, all-equity round was led by San Francisco firm Base10 Partners, with Québec-based backing from Fonds de solidarité FTQ and returning investors Inovia Capita and White Star […]
The law firm that thinks like a venture fund
Aliya Ramji, co-founder and partner of MT>Ventures, believes that a company’s success is not just decided by the faces on its cap table. “We often think of VCs as being the arbiters of who’s going to win or lose in this sector,” Ramji said. “In reality, there is an entire ecosystem at play, especially in […]
Absorb to acquire Together in bid to bring mentorship to its learning software
Calgary-based education technology company Absorb Software has reached a deal to buy Toronto mentorship platform Together Software. The two companies plan to integrate Together’s mentorship software into Absorb’s broader learning management system (LMS) and product ecosystem. Together co-founder and CEO Matthew Reeves told BetaKit that the two Canadian tech companies decided to join forces because […]
Privacy Commissioner announces LinkedIn will pause training AI with data of Canadian members
Privacy Commissioner of Canada Philippe Dufresne announced this week that LinkedIn has agreed to voluntarily pause using the personal information of its Canadian members to train generative artificial intelligence (AI) models. Dufresne indicated that he’s been keeping a close eye on how companies train AI at a summit earlier this year. The development follows reporting […]
TikTok challenges feds’ shutdown order, calls national security review process “procedurally unfair”
TikTok has filed a challenge to the federal government’s Nov. 6 order to wind up its Canadian operations, saying the decision was “driven by improper purposes” and alleging that federal representatives failed to substantially engage with the company during the national security review (NSR) process. In addition to calling the order “unreasonable” and “grossly disproportionate,” […]