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Welcome to the BetaKit Startup Stories of the Week! Here you’ll find the week’s top news, features and editorials published on BetaKit. If you’d rather have this update delivered to your inbox every week, be sure to subscribe to the BetaKit newsletter using the form at the bottom of this page.
Top stories of the week
The Toronto tech broke venture funding records in the second quarter with $1.46 billion raised
Toronto was one of four Canadian tech markets to set funding records in the second quarter of 2021, along with British Columbia, Waterloo Region and Montreal (Calgary? Not so much). The quarter helped lift first-half investment to record levels.
WELL Health to acquire a majority stake in US-based digital pharmacy startup Wisp
Today’s flurry of communications between WELL Health, its outside representatives and the Canadian media suggests an approach that threatens to overshadow the company’s news.
New York-based FinTech startup Jeeves announces CAD 71.6 million Canadian expansion
“Our goal is to get to 30 to 40 people in Canada in Vancouver and Toronto, so we’re hiring pretty aggressively,” Jeeves’ Dilip Tajmon told BetaKit.
Gatik Raises $107M Canadian Series B, Announces Texas Expansion
Along with the funding announcement, Gatik revealed plans to expand its operations in Texas, where it intends to establish a “long-term presence.”
Both the Liberals and Conservatives are promising to introduce open banking before the election
The Liberal Party also released its platform, promising SR&ED reform and a $2 billion Advanced Research Agency.
High rates of mental illness among female entrepreneurs ‘alarming’, FLIK study reports
Entitled FLIK Founders’ Mental Health Report 2021, the study reveals the lack of work-life balance in female entrepreneurs and the consequences it has for them.
Recent funding, acquisitions and layoffs
VIC – Audette – $1 million (read more)
VAN – Fresh Prep – $21 million (read more)
VAN – D3 Security – $18.9 million (read more)
ON – FedDev Ontario commits $12 million to OneEleven, new Waterloo-London health center (read more)
TOR – Emerge Commerce to Acquire BattlBox, Carnivore Club (read more)
ACCESS TO LEADING TALENT READY FOR THE FUTURE!
Successful organizations hire people with the right skills to sustain their organization into the future. A report from an American platform for investors and startups found that ventures by University of Waterloo alumni produced higher-than-expected returns on investment than their peers from Stanford, MIT and Harvard. Get ahead of the game and get access to upcoming UWaterloo talent!
It’s easy to rent with unprecedented levels of financing. Get up to $7,500 when you hire co-op students through the Student Employment Program. You can also access wage subsidies, tax credits, small business funding, research grants and more.
HOW CANADIAN TECH TOOK OVER THE TSX
TMX group’s Danny Lipkin joins to explain why the first half of 2021 is already the best year for Canadian tech companies on the TSX, and why it took so long.
WHY TEKSAVVY IS ANGRY AND THE CRTC DOESN’T SEEM TO CARE
For Hot Pod Summer, the BetaKit podcast answers listener questions about TekSavvy, the CRTC, Shopify, the upcoming election, and more!
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