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Articles by Rebecca Daly
Funding Roundup: Breathe Life, Medstack, Cmd, RenoRun, DOZR
The Canadian startup scene ended February on a high note, with several companies raising millions in funding. Take a look at some of the deals you may have missed this week: Breathe Life Montreal-based Breathe Life has raised $4.6 million in seed financing led by Diagram Ventures with participation from Real Ventures. Breathe Life provides digital solutions for insurance companies, enabling them to better reach their customer base through superior distribution strategies.
Funding Roundup: GradeSlam, Conavi Medical, MediaValet
This week saw funding across industries, from healthtech to education to B2B software. Here are some of the stories you may have missed: GradeSlam Montreal-based GradeSlam, an online tutoring software, has announced a new round of funding from the Google Assistant Investment Program, Birchmere Ventures, BDC Capital, Reach Capital, and Ages Quebec. The platform is chat-based and aims to provide free, 24-hour tutoring and learning support for students.
Funding Roundup: Roofr, ProNavigator, Inventys
February kicked off with some exciting and diverse investments in Canadian technology companies, spanning from cleantech to new-age roofing. Here are three stories you may have missed this week. Roofr Roofr closed a $4 million seed funding round led by Crosslink Capital, with participation from Y Combinator, Ace & Company, Louis Beryl, and angel investors. This funding round comes shortly after the company graduated from the Y Combinator program in 2017.
Funding Roundup: district m, Thoughtexchange, Fiix, APX
To wrap up the first month of 2019, we’re sharing some exciting investments from this week. With new funding in everything from maintenance management software to advertising technology, here’s what happened this week in Canadian tech investing: district m Montreal Ad Tech company, district m, announced a $12 million investment from two financial partners.
Funding Roundup: Planswell, Acorn Biolabs, Zafin, AmacaThera, 7shifts
It has been a big funding week for Canadian startups, specifically in the biotechnology and fintech sectors. Here are a few funding rounds that you may have missed this week. Planswell Toronto-based Planswell, an online financial planning organization, raised an additional $4 million in seed funding from private investors. Planswell has had great success in their first year, building over 100,000 free financial plans for Canadians and making LinkedIn’s list of Top Canadian Startups.
Wealthsimple and TurboTax Partner to Help Canadians Save for Their Future
Wealthsimple and TurboTax have announced a partnership that aims to help Canadians make better long-term financial decisions while filing their taxes. The partnership creates an opportunity for Canadians to make contributions to a Registered Retirement Savings Plan (RRSP) during the tax filing process within the TurboTax platform. TurboTax has introduced a new feature, the “RRSP Optimizer,” enabling taxpayers to see how different RRSP contributions would affect their tax refund.
Funding Roundup: Vention, Solink, Bold Commerce
As companies are diving headfirst into their 2019 plans, investments are starting to heat up again. Here are three Canadian companies that closed financing rounds this week: Vention Montreal-based Vention closed CAD $17 million in a Series A funding round led by Bain Capital Ventures. Vention is an innovative digital manufacturing platform for custom-built factory equipment, and the investment will assist the company’s second major platform upgrade since it began in 2016.
Funding Roundup: Osprey Informatics, Mysa, Fresh Prep, Ribitt
The year may be winding down, but the investments are not. Here are four Canadian technology companies that received funding that will help catapult them into 2019. Osprey Informatics Osprey Informatics, an intelligent visual monitoring service provider, has raised $3.75 million in funding. “We are thrilled to partner with Shell Ventures, Evok Innovations and InterGen Capital,” said Rob Logan, CEO of Osprey Informatics.
PayPal Launches Xoom for Canadian Users
It’s getting a bit easier to send money to loved ones outside of Canada. PayPal has launched Xoom in Canada, an international digital money transfer service. Through the service, Canadians can now send money to more than 130 countries across the globe, enabling users to pay bills or reload phones for relatives outside of Canada. Xoom will have a large impact for many, as nearly 20 per cent of citizens were born outside the country and Canadians send nearly $24 billion internationally each year.
Funding Roundup: Montreal AI, Chainvu, BIOS
With six investments into Montreal-based AI companies alone, this week was a successful one in the Canadian startup scene. Here are of some of the top funding stories you may have missed this week. Montreal AI This week, the Government of Canada invested in six Montreal-based AI companies, totalling nearly CAD $6.3 million (USD $4.7 million) in funding coming form the Canada Economic Development for Quebec Regions (CED).
BBTV Announces New Partnership to Launch NBA Playmakers YouTube Channel
Canadian digital entertainment company BroadbandTV (BBTV) and the National Basketball Association (NBA) have announced their partnership in creating the NBA Playmakers YouTube channel which will be a platform for customized content and original shows. The channel will offer original programming featuring NBA players and popular digital influencers, and the partnership will enable network creators to attend exclusive league events to develop behind-the-scenes content.
Viruses control dominant bacteria colonizing the terrestrial deep biosphere after hydraulic fracturing
1. Suttle, C. A. Viruses in the sea. Nature 437, 356–361 (2005). 2. Whitman, W. B., Coleman, D. C. & Wiebe, W. J. Prokaryotes: the unseen majority. Proc. Natl Acad. Sci. USA 95, 6578–6583 (1998). 3. De Smet, J. et al. High coverage metabolomics analysis reveals phage-specific alterations to Pseudomonas aeruginosa physiology during infection. ISME J. 10, 1823–1835 (2016). 4. Wommack, K. E. & Colwell, R. R. Virioplankton: viruses in aquatic ecosystems. Microbiol. Mol. Biol. Rev. 64, 69–114 (2000). 5.
Carrot Rewards Reaches New Milestone and Launches Monetization Strategy
Canadian wellness app Carrot Rewards, is celebrating their massive milestone of one million users with the launch of Carrot Plus, a subscription version of the app that enables users to earn points more rapidly. The app has had resounding success in Canada so far, with Carrot reaching one billion points awarded this past March, and has doubled that number in less than a year, totalling two billion points awarded to date.
Communauto FLEX Car-Sharing Service Launches in Toronto
Car-sharing company Communauto has officially launched in Toronto after receiving a permit last month as part of the City’s new pilot program. The company’s new free-floating sharing program, Communauto FLEX, will start out with 200 cars in the downtown core. The program enables members to use the car-sharing service for one-way trips, picking up the car from one legal street-parking space and dropping it off in another within the service boundaries.
Funding Roundup: Hostaway, Precision OS, ISARA, D1g1t
Canadian companies continue to provide innovative technology solutions and venture capitalists around the world are taking note. Here are some of the funding rounds you may have missed this week. Hostaway Hostaway, a Toronto-based provider of rental management software, has raised CAD $1.9 million (USD $1.4 million) in seed funding this week. The funding round was led by Vendep Capital, a Finnish venture capital firm.
Alate Partners Launches With $40 Million in Seed Financing
Alate Partners, a Toronto-based property technology (proptech) company, has launched with $40 Million in seed financing. The initial financing round was the result of Alate Partner’s incubation with Dream, a real estate enterprise, and Relay Ventures, a leading Canadian early-stage venture firm. Alate is working with innovative companies in the growing real estate market to help facilitate the creation of technologies that enhance the real estate industry.
Funding Roundup: Smart Skin Technologies, Transit, Circle Medical, Setter
This week’s funding roundup highlights some of the most interesting investment announcements made this week into companies changing the game for healthcare, transportation, and homeowner solutions. East-coast Smart Skin Technologies received a CAD $3.1 million investment strategic investment. The financing was led by SCHOTT AG, with The New Brunswick Innovation Foundation-an existing Smart Skin investor-also taking part. “This is an exciting period of growth for Smart Skin.
Funding Roundup: Futurefit, Canada Learning Code, Validere, theScore, Think Research
This week’s funding roundup includes some of the most innovative technology companies in Canada. In case you missed them, here are five of the most exciting funding announcements from this past week: FutureFit AI, a Toronto-based corporate upskilling solution, won TD Bank’s Ready Challenge and received CAD $1 million (USD $760k) for innovations towards the future of work.
Funding Roundup: Finn AI, Foxquilt, Alliance Magnesium, exactEarth
It’s been a busy week of funding for Canadian technology companies. Here are the top financing rounds you may have missed. Vancouver-based Finn AI received CAD $14 million (USD $11 million) in Series A funding. Yaletown Partners and Flying Fish Partners led the financing round, with additional funding from BDC Capital’s Women in Technology Fund, 1843 Capital, and angel investors.
Assent Compliance Announces $130 Million Growth Equity Investment
Assent offers cloud-based software and services to help organizations manage their supply chain data through automation. The growth equity investment from Warburg Pincus will help Assent make improvements to their data management platform and expand their solutions offerings. “We are thrilled to partner with Warburg Pincus – one of the leading growth equity firms in the world.
The Time is Right: FemaleForce Brings Together Canada’s Leading Entrepreneurial Spirits
As Small Business Month passes its midway point, it is important to look at how every kind of business owner is working through the challenges entrepreneurship brings and how to succeed in a rapidly evolving workplace.
FunnelCake, Salesforce, and Using Dreampitch as a Catalyst for Growth
This past May, Waterloo startup FunnelCake won the first Dreampitch Toronto, a touring pitch competition put on by Salesforce. The company, which provides a platform for sales and marketing teams to track their funnel, from initial lead to revenue, beat out two other startups at the event, taking home $100,000.
D-Wave Launches Leap, a Real-Time Quantum Application Environment
D-Wave Systems Inc, a leading quantum computing startup, has announced the launch of Leap, a free cloud-based Quantum Application Environment (QAE) that gives developers and enterprises real-time access to a live quantum computer. To help users with quantum application development, the Leap QAE provides a number of additional features, including learning resources and demos, community support and forums, hands-on coding, and open-source development tools.
Communauto Launches Free-Floating Car-Sharing in Toronto
Communauto, a Montreal car-sharing company, is the first to receive a permit to launch a free-floating car-share service as a part of the City of Toronto’s pilot program. The company’s FLEX service will launch in November 2018 and be available in the city’s downtown core, with 200 cars covering a 50 square kilometre area. “As a Canadian company, we’re proud to be the first to bring a free-floating car service to Toronto under this pilot.
Hopper Raises $100 Million in Series D Funding Round
Led by OMERS Ventures, the funding round will enable Hopper to continue expanding globally in addition to supporting the company’s artificial intelligence (AI) development. Other investors including Caisse de dépôt et placement du Québec (CDPQ), Brightspark Ventures, Accomplice, BDC Capital IT Venture Fund, Investissement Québec, and Citi Ventures also participated in the funding round.
University of Waterloo to Open Canada’s First VR Optometry Lab
University of Waterloo’s School of Optometry and Vision Science will soon be home to Canada’s first virtual reality optometry lab. Funded by an $800,000 investment from national eye care provider FYidoctors, the lab is designed to accelerate learning and skill development for optometrists through virtual simulations.
NACO’s 2018 Awards Feature Zoom.ai, Genesis Robotics and More
The National Angel Capital Organization (NACO) held its 2018 Awards last week, presenting awards for Most Promising Startup of the Year, Exit of the Year, and Angel of the Year. The Most Promising Startup of the Year Award, which was presented by Panache Ventures, was awarded to Zoom.ai, a chat-based productivity software that enables employees and entire companies to automate simple tasks.
Wave Passes 3.5 Million Registered Users and Over $3 Billion Processed
Wave, a Toronto-based financial software provider for entrepreneurs and small business owners, has announced a significant growth milestone, achieving more than 3.5 million registered business owners. This was one of many milestones announced by the company, which is considered an innovator in financial management software. Wave has now processed more than $3 billion for customers through their software’s payment and payroll services, with 70,000 new small business clients added every month.
Tile Appoints CJ Prober as New CEO
Tile, a leader in smart location technology, has appointed CJ Prober as its new Chief Executive Officer. This announcement comes in tandem with the extension of Tile’s strategic partnership with Comcast, which aims to extend the reach of the cloud-based platform. Leading technology companies is not new for Prober. The Winnipeg-native previously held a number of high-ranking industry positions, including Chief Operations Officer of GoPro, and multiple VP roles at Electronic Arts.
BlackBerry and L-SPARK Partner to Accelerate Tech Innovation
Canadian software leaders BlackBerry and L-SPARK have partnered to create a new accelerator program for small and medium-sized technology enterprises (SMEs). The accelerator program aims to help SMEs grow their business and bring products to market in areas including sensor fusion, device security, robotics, medical devices and autonomous vehicles.
Beanworks Raises $10.1 Million in Series B Funding
Vancouver-based Beanworks, an accounts payable (AP) automation company, has raised $10.1 million in a Series B funding round. This round of funding was led by FINTOP Capital and supported by BDC Capital, in addition to private investors. The Vancouver-based Beanworks will use the $10.1 million to enhance its AP automation platform, introduce new features and expand into global markets.
Waterloo’s Bonfire Acquired by U.S. Firm For $108 Million
U.S. firm GTY announced plans to acquire Waterloo-based software company, Bonfire Interactive Ltd. for $108 million USD. Bonfire is one of six companies entering into an agreement with GTY, all of which are at the forefront of public sector digital transformation. The acquisition is expected to close in early 2019, at which point the combined companies will create an integrated software solution for the underserved public sector market.
Intel to Open Graphics Chip Engineering Lab in Toronto
Computing powerhouse Intel has announced plans to open a graphics-chip engineering lab in Toronto. The plant will be the main engineering and design facility for the company’s new GPUs that are set to launch in 2020. Choosing Toronto was a strategic move for Intel, which was drawn in by the city’s thriving technology landscape, as everyone from NVIDIA to Samsung has opened AI or research labs in the city in the past year.
TELUS and Babylon Partner to Bring Virtual Healthcare to Canadians
TELUS has partnered with Babylon, a global leader in digital health, to create a mobile application that aims to provide virtual services to Canadians who cannot easily access non-emergency healthcare. “Our partnership with Babylon, through a globally-leading virtual care solution, will enable consumers to get access to healthcare anywhere and anytime that they need it,” says Juggy Sihota, VP of TELUS Health.
Amazon Prime Unveils Monthly Subscription Model in Canada
Global e-commerce powerhouse Amazon announced today that they are bringing a monthly Prime subscription model to Canada. The monthly subscription model, which offers the same benefits as the annual membership, is now available for $7.99 per month. The annual subscription cost will remain the same at $79. “Prime brings together the best of entertainment and shopping into a simple package at an unbelievable value for Canadians.
Upgrade Set to Open Fintech Development Centre in Montreal
San Francisco-based Upgrade Inc. has announced its plan for a new development center in Montreal, which will create 100 jobs in the fintech space. The Montreal development center will be the first Canada office for Upgrade, an online consumer credit platform that has facilitated over $1 billion in consumer loans since its inception in 2016.
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