Boardy CEO Andrew D’Souza has issued an apology after his new artificial intelligence (AI) networking tool commented on the appearances of its users in the style of US President Donald Trump. On the morning of Jan. 20, inauguration day in the United States, D’Souza posted on LinkedIn that users who have used Boardy should check…
Retail giant Amazon is ending its operations in Québec, closing seven operation sites and cutting roughly 1,900 jobs, according to Radio-Canada. It will continue to deliver orders to customers in Québec through third-party distributors, similar to how it operated in 2020, the company said. A total of seven operation sites near Montréal and its surrounding…
Toronto-based quantum computing company Xanadu claims that it has figured out how to network quantum computers together, one of the key challenges facing the industry. Xanadu introduced its new photonic quantum computer Aurora today. Aurora, which builds on Xanadu’s previous X8 and Borealis systems, consists of four modular and independent server racks that are photonically…
Canada’s quantum sector just got a big boost this week as more than 100 quantum projects are receiving nearly $80-million in combined federal funding. Canada’s federally funded Digital Innovation Cluster (DIGITAL) is investing $4.7-million across three commercialization projects led by autonomous farming software company Verge Ag, cybersecurity maker Quantum Bridge Technologies, and quantum computing firm…
When Axtion founder and CEO Tracey McGillivray’s father started falling at the age of 82, he was never hurt on the way down. Getting back up proved to be the bigger problem. McGillivray’s mother, barely a year younger, wasn’t strong enough to help him. When no one was home, they would call 911 or plead…
Montréal-based private equity firm Novacap has raised more than $1-billion USD ($1.43-billion CAD) for its first fund dedicated entirely to investing in digital infrastructure. New fund has already deployed capital in four companies. Novacap said in a statement that the new fund exceeded its fundraising target, and is backed by undisclosed existing and new institutional…
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 its AI platform can cut energy consumption and costs for the mass production of pharmaceuticals, consumer…
Toronto-based Street Context has been acquired by fellow market intelligence platform BlueMatrix for an undisclosed amount. Both firms provide offerings meant to centralize and manage communications and intelligence around investments and the capital markets. The combined company will integrate authoring, financial data, and consumption analytics into a unified platform, BlueMatrix said in a statement, adding…
Montréal-based nonprofit QueerTech has launched a new accelerator for Canadian entrepreneurs who identify as members of the 2SLGBTQIA+ community. The move follows QueerTech’s early 2024 acquisition of Toronto’s Gradient Spaces, which offered similar programming for 2SLGBTQIA+ founders. Applications close on Fri. Jan. 24. QueerTech has also named Virtual Gurus founder and CEO Bobbie Racette, an…
Toronto-based medtech company MolecuLight has secured $27.5 million USD ($39.5 million CAD) in financing to expand its global footprint and introduce new features to its wound bacteria-detecting devices. London, UK-based investment firm Hayfin Capital Management was the sole investor. MolecuLight did not respond to a request for comment about the financing breakdown, including primary and…