Early-stage startups grapple with fallout after Québec-funded investment program suspended
Montréal founders say their rounds fell apart after Impulsion PME’s “safety net” for investors disappeared.
Funding
Alberta Enterprise Corporation launches Accelerate Fund IV with $15 million to back early-stage tech startups
First close from AEC brings Fund IV more than halfway to its $25-million target.
Spexi raises $16.2 million CAD Series A for blockchain-based drone imagery network
Startup’s long-term goal is to reward drone pilots on its platform with a native crypto utility token.
Cyder closes $1.5 million to fuel launch of loyalty platform for credit unions
FinTech startup’s backers include MaRS IAF, Aperture, Desjardins, Arlene Dickinson.
Aramis Biotechnologies secures $80 million CAD for vaccine development do-over
Former staffers from Medicago get another shot at vaccine development with renewed backing from federal government.
Cohere secures federal backing to build multibillion-dollar Canadian AI data centre
This marks the first investment through the new Canadian Sovereign AI Compute Strategy.
KisoJi raises $57-million CAD Series B to advance antibody cancer therapy
Montréal-based biotech company using AI to boost antibody identification platform.
Federal government outlines $2 billion in AI compute spending commitment
Strategy includes $1.3 billion for computing infrastructure and $700 million for AI data centres.
Musical AI partners with India’s Beatoven.ai to create “fully licensed” AI song generator
Music tech startups join forces to compensate IP holders for songs created with AI.
BDC launches program to help small businesses access financing to adopt AI
Program includes cybersecurity assessment and workflow automation assistance.
Sheertex maker SRTX gets $35 million CAD backing from IQ to grow manufacturing operations in Québec
STRX looking to close $70-million CAD convertible note financing round before end of year.
AI chipmaker Tenstorrent closes nearly $700-million USD Series D at $2.6-billion valuation
Samsung, Bezos-backed financing comes after the firm quietly relocated to the US.
British Columbia deploys combined $9.2 million into projects tackling climate, nutrition, health and more
Funding recipients include Ekona Power, Wildfire Robotics, and Ideon Technologies.
Firestarter program goes national with funding from BDC Thrive Lab
Following Atlantic Canada pilot, program supporting women-led startups will host first cohort in early 2025.
With new name, FleetOps secures $30.8-million CAD Series A round
Now called Class8, trucking data startup’s round was led entirely by United States-based investors.