News from BetaKit

A|I: The AI Times – Tenstorrent swaps CEOs, DeepMind exits Edmonton

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Michael Edgar @ BetaKit · 02/03/2023 05:00 EDT

Plus: does Ottawa have the right plan to support an AI industry? Read more ›

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Lightspeed one-time net loss of $814.8 million USD sends Groundhog Day signal: six more weeks of tech winter

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Josh Scott @ BetaKit · 02/02/2023 17:18 EDT

Lightspeed makes slight revenue gain but faces recessionary pressures in the marketplace. Read more ›

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CIBC Innovation Banking president Mark McQueen resigns

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Charlize Alcaraz @ BetaKit · 02/02/2023 13:50 EDT

McQueen joined CIBC through its acquisition of Wellington Financial in 2018. Read more ›

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VerticalScope becomes latest public tech firm to make layoffs with 22 percent staff reduction

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Josh Scott @ BetaKit · 02/02/2023 12:59 EDT

Cuts come after VerticalScope’s business deteriorated in Q4. Read more ›

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Ada latest Canadian unicorn to make additional staff cuts

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Meagan Simpson @ BetaKit · 02/02/2023 11:24 EDT

The layoffs come four months after Ada reduced its staff by 16 percent. Read more ›

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H|T: The Healthtech Times – Smile Digital Health nabs $30 million Series B

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Michael Edgar @ BetaKit · 02/02/2023 05:00 EDT

Plus: Amazon expands into pharmacy. Read more ›

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Invest Ottawa’s 10th birthday party comes with over $6.6 million in funding to support Area X.O

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Alex Riehl @ BetaKit · 02/01/2023 16:27 EDT

Invest Ottawa will use funding to create remote and simulation options for smart mobility R&D. Read more ›

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Winnipeg-based Cerebra to assist with provincial sleep test backlog

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Ryan O'Connor @ BetaKit · 02/01/2023 15:25 EDT

Contract with Manitoba government will help alleviate backlog of province's sleep study cases following pandemic. Read more ›

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AppDirect acquires TBI to expand offerings for technology advisors

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Michael Edgar @ BetaKit 2 place · 02/01/2023 12:54 EDT

AppDirect unified its advisor business under the AppDirect brand earlier this month. Read more ›

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As Clearco and Wayflyer struggle, Paperstack secures $9 million in equity and debt to fuel pivot into e-commerce lending

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Josh Scott @ BetaKit 3 place · 02/01/2023 08:59 EDT

Paperstack sees room to grow as larger players cut back amid economic headwinds. Read more ›

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R|T: The Retail Times – Shopify loses third C-Suite exec since September

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Michael Edgar @ BetaKit 1 place · 02/01/2023 05:00 EDT

Plus: Tiny Capital enters deal to go public. Read more ›

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OpenText closes $5.8 billion USD acquisition of Micro Focus, makes workforce reduction

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Charlize Alcaraz @ BetaKit · 01/31/2023 18:05 EDT

OpenText said it expects to cut the combined entity’s teams by 8 percent due to Micro Focus acquisition. Read more ›

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Raven Indigenous Capital Partners tops initial target for second fund with $100 million final close

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Charlize Alcaraz @ BetaKit · 01/31/2023 14:17 EDT

With Fund II, Raven aims to build more innovative Indigenous economies. Read more ›

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Faced with insolvency, Ottawa’s Tehama forges ahead with founder-backed restructuring

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Charles Mandel @ BetaKit · 01/31/2023 14:13 EDT

Software startup for remote teams pursuing federal contract after fundraising falls through, bank relationship sours. Read more ›

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RocketRez closes $20 million CAD Series B to fuel European tourism expansion

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Josh Scott @ BetaKit 2 place · 01/31/2023 06:59 EDT

CEO: “We’re a little company in Manitoba taking on the world.” Read more ›

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Vector Institute, Communitech partner to expand AI training program across Canada

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Charlize Alcaraz @ BetaKit 2 place · 01/31/2023 06:00 EDT

Reports show one of the main barriers to AI adoption is the ongoing talent crunch. Read more ›

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F|T: The FinTech Times – Stripe’s path to IPO

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Michael Edgar @ BetaKit · 01/31/2023 05:00 EDT

Plus: Blockstream lands $125 million. Read more ›

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Tech-related roles dominate Indeed’s best jobs list in Canada for 2023

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Michael Edgar @ BetaKit 1 place · 01/30/2023 06:00 EDT

Data engineers still in demand despite downturn-induced layoffs. Read more ›

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Canadian startup news of the week (1/29/23)

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Michael Edgar @ BetaKit 1 place · 01/30/2023 05:00 EDT

Plus: Another Shopify C-suite exec departs. Read more ›

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Can Amber Mac explain WTF is happening in tech right now?

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Douglas Soltys @ BetaKit 1 place · 01/27/2023 17:57 EDT

Not quite the best start to 2023 for tech. Read more ›

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