Accelerator Centre, TIAP, OBIO, and University of Waterloo among supported organizations. The Federal Economic Development Agency for Southern Ontario (FedDev Ontario) had a busy week dispensing $34 million in federal funding to help create new tech and life sciences hubs and help scale startups in Waterloo Region and Toronto. Earlier this week, Ruby Sahota, […]
Commitment marks the 10th investment from the federal government’s clean energy investment fund to date. The Canada Growth Fund (CGF), the federal government’s clean energy investment fund, will commit up to $50 million CAD to Calgary-based private equity firm Longbow Capital for its second Energy Transition Fund. The commitment comes in addition to Longbow’s […]
Funding for strategy first announced in Budget 2021 to be dispensed over seven years. The Government of Canada officially launched the Canadian Genomics Strategy this week as it looks to advance commercialization and adoption in the sector. The strategy is backed with $175.1 million CAD in federal funding to be dispensed over the next […]
Rayhawk’s proprietary technology automates opening, inspecting, closing, and sealing railcars lids. Saskatoon-based Rayhawk Technologies has closed a $3-million seed round for its autonomous rail car loading technology. Rayhawk said the round was led by Emmertech, Conexus Venture Capital’s AgTech fund, and did not disclose any other investors. The company said it will use the […]
Company claims facility will produce enough battery-grade materials annually to power 25,000 EVs. Vancouver-based Mangrove Lithium has closed $35-million USD ($50.4-million CAD) in strategic financing to start construction on its new lithium refining plant. Participants in the round include new investors Mitsubishi, Asahi Kasei, provincial innovation agency InBC, Orion Industrial Ventures, and Export Development […]
San Francisco-based revenue management platform plans to expand globally. Canadian-led, San Francisco-based Nue has raised a $20-million USD ($28.8-million CAD) Series A round for its revenue lifecycle management platform. The all-equity round was led by Montréal-based venture firm Inovia Capital, who will gain a board seat, with participation from Bluefish Capital, NextWorld Capital, NJP […]
Company claims AI model armed with physics, chemistry expertise can cut inefficiencies in mass production. 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 […]
New Toronto accelerator aims to help entrepreneurs develop solutions to housing supply challenges. Toronto-based incubator DMZ has received $3.5 million from the federal government to establish the Centre for Housing Innovation (CHI), a new hub that will provide a training program and a housing-focused accelerator. The funding, which comes from the Federal Economic Development […]
Financing pushes Vancouver startup closer to clinical trials targeting diabetes, liver disease. Vancouver-based Aspect Biosystems has raised a $115-million USD ($165 million CAD) Series B round to realize its ambitions of bringing 3D-printed tissue therapies into clinical use. Aspect has developed 3D-printing technology more at home in the realm of science fiction than Canadian […]
Canada can’t outspend its peers. So how might it outsmart them? 2024 was the year that British-Canadian computer scientist Geoffrey Hinton won a Nobel Prize in Physics for his contributions to the field of artificial intelligence (AI). 2024 reinforced that Canada lacks the resources to win the AI war on all fronts. His victory […]
