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Home Success Stories Canadian startup news of the week (12/15/22)

Canadian startup news of the week (12/15/22)

Welcome to BetaKit’s startup stories of the week! Here, you will find the week’s most important news, features, and editorials published on BetaKit.

If you prefer this update hit your inbox every week, make sure to subscribe to the BetaKit Newsletter using the form at the bottom of this page.

Top Stories of the Week

Radical Ventures raising new $550 million USD fund as AI sector heats up

The early-stage, AI-focused VC firm is working to raise a new $550 million USD fund. Radical partner Aaron Brindle told BetaKit that a “significant majority” of the fund is already closed.

Government of Canada reveals plans for $360 million National Quantum Strategy

According to the Government of Canada, NQS will focus on building on Canada’s strength in quantum research, growing the nation’s quantum-ready technologies, companies and talent, and solidifying the country’s global leadership in the space.

Properly pivots away from home sale guarantee as real estate market dips

A digital real estate brokerage, Properly differentiated itself in the Canadian market by promising listing homeowners a “near-instant offer” on their homes, with the option to sell directly to Properly.

WonderFi releases public statement following Coinsquare merger report

In a public statement, WonderFi neither confirms nor denies BNN Bloomberg’s Coinsquare crypto merger reportsaying it’s both looking at potential acquisitions and being acquired. This comes days after Coinsquare moved to terminate its previously agreed upon deal to buy CoinSmart.

BMO, Georgian partner on access fund as venture firm secures nearly half of second alignment fund

SEC filings dated October 11, 2022 show that Georgian has secured $466 million USD of its target to date.

BC holds consultations on employment standards for gig workers as Uber, Lyft offer own visions

The next steps for regulating gig work are uncertain, says BC’s parliamentary secretary for the sustainable economy, Adam Walker.

BDC Capital report finds Canadian VCs are hiring more diverse candidates but facing difficulties with talent retention

The report’s findings are encouraging on the career advancement side of the equation: women and visible minorities account for at least half of promotions at 72 percent and 53 percent of Canadian VCs who provided answers, respectively.

Interac’s CTO on how to hire for technical roles

Speaking with BetaKit, Henderson explained how he approaches technical hiring from a process perspective and his advice for other CTOs or heads of talent looking to recruit.

Latest Funding, Acquisitions, and Layoffs

  • VAN – Thinkific lays off about a fifth of staff (read more)

  • VAN – Terramera forms EnrichAg with initial $6M (read more)

  • EDM – Nanoprecise – $13.4M (read more)

  • ON – FedDev Ontario invests $14M into eight projects (read more)

  • WAT – Descartes Systems Group acquires Supply Vision (read more)

  • WAT – University Waterloo leads new $1.5M 5G consortium (read more)

  • TOR – Aptum Technologies will acquire CloudOps (read more)

  • TOR – GoBolt lays off 5 percent of staff (read more)

  • MTL – Nuvei to acquire Paya (read more)

  • HAL – ReelData – $10.5M (read more)


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    “When you have a washout like we just had, you’re really left with core fundamental value, and that’s what people are building now.”

    Satraj Bambra, Partner at Round13’s Digital Asset Fund, joins for a wide-ranging discussion on the state of Web3, NFTs, crypto, the blockchain, and…Roblox?


    “The very heart of the bill, and the heart of the law, you wouldn’t know what exactly it’s applying to.”

    Data governance and AI risk management expert Carole Piovesan joins to discuss the future of AI regulation, privacy, and Bill C-27 before it hits committee.

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