Canadian Startup News of the Week (05/28/23)

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Welcome to BetaKit Week Startup Stories! Here you’ll find the week’s hottest news, features, and editorials released on BetaKit.

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Top Stories of the Week ABCELLERA RECEIVES $300 MILLION IN COMBINED GOVERNMENT GRANTS FOR BIOTECH CAMPUS

Vancouver-based AbCellera will receive $300 million through the Strategic Innovation Fund to upgrade existing facilities throughout Vancouver and to develop a state-of-the-art biotechnology campus with a preclinical facility for antibody development.

BENCHSCI CLOSES CAD95M D SERIES TO EXPAND AI DRUG DISCOVERY PLATFORM

Toronto-based BenchSci, which helps pharmaceutical companies accelerate research and development using artificial intelligence, has secured C$95 million in Series D funding.

EVALUATING UCP AND NDP TECH PLANS AS ELECTION DAY APPROACHES IN ALBERTA

Early polling for the 2023 Alberta general election has already begun. What’s on the table for the provinces’ technology sector?

SHOPIFY EXTENDS POINT OF SALE HARDWARE TO CANADIAN RETAILERS AFTER INITIAL U.S. LAUNCH

Shopify is making its point-of-sale hardware solution available to Canada as part of its broader product strategy for online and offline commerce.

THE SUMMER CAMP FOR CANADIAN TECH IS BACK: THE STARTUPFEST IS BACK ON JULY 12-14

Use this 15% discount code provided by BetaKit on your Startupfest tickets so we can see you in Montreal!

AS NASDAQ DELISTING LOOMS, WEALTH MANAGEMENT COMPANY MCLOUD WANTS TO GO PRIVATE

With stock markets tightening, low-volume trading and other macroeconomic factors, Calgary-based cloud services provider mCloud has been exploring going private to tackle the recession.

CODE FOR CANADA ED: DISCLOSED TECH EMPLOYEES ARE OVERLOOKING PUBLIC SERVICE OPPORTUNITIES

Dorothy Eng of Code For Canada says tech professionals would welcome the challenge of designing solutions for everyone in Canada, not just those who can afford them.

“THERE’S A REVOLUTION IN THE WINGS”: WHY THE CANADIAN SEMICONDUCTOR INDUSTRY NEEDS AN OVERHAUL

Niraj Mathur, co-founder of Blumind, talks about his experience building a deep-tech company in Canada and why he believes the semiconductor industry is headed for a total revolution.

Latest Funding, Acquisitions, and Redundancies VAN – Cognosys – $2M (read more) LON – Locorum – $1.2M (read more) TOR – Spellbook (formerly Rally) – $10.9M (read more) TOR – Wingmate – $1M (read more) MTL – Novisto – $27M (read more) The BetaKit Podcast A REWAKENING FOR BUZZFEED, GAWKER, VICE, WITH CANADIAN JONATHON GOLDSBIE

“This is a deeply unhealthy way to live and work and ultimately not an effective way to sustain a publication.”

CANADALAND News Editor Jonathan Goldsbie joins to discuss the rampant demise of digital media publications launched in the 2000s and how they compare to the slow death of traditional media. Advice for aspiring young journalists mixes with a survey of the ideal media business model in 2023.

WHAT HAPPENS FOR SHOPIFY?

“This announcement communicated two things: this thing we’re getting rid of isn’t primary to our mission, it’s a secondary quest, we don’t really care; and we have a cultural issue in our company with who we hire and what they focus on.

Madeline Stone, retail and ecommerce writer for Business Insider, joins in to discuss the future of Shopify’s “core search” after it cuts staff and sells its logistics division.

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