Also: Noble, Hopper Top Deloitte Canada’s Fast 50.
Welcome to BetaKit Startup Stories of the Week! Here, you’ll find the week’s most important news, features and editorials published on Beta Kit. If you prefer this update to have it hit your inbox every week, be sure to sign up for the BetaKit newsletter using the form at the bottom of this page.
The main news of the week
As a difficult year comes to a close, Canada’s tech crackdowns continue.
At least 10 other Canadian tech companies have laid off workers as companies prepare for what is expected to be a prolonged economic downturn. Meanwhile, Amazon began laying off thousands of people last week, and its Canadian teams were not spared.
Attabotics secures $95 million from EDC, Ontario faculty to scale up its warehouse robots.
With the technology finally ready and $95 million ($71.7 million) in new “Series C-1” funding, Atabotics founder and CEO Scott Gravely said the startup is ready to scale.
Former SkipTheDishes COO Howard Migdal has stepped up to the plate as CEO
As the founder of Grub Canada, Migdal brings more than 16 years of catering experience to his new role at SkipTheDishes.
Raquel Urtasun reference is getting ready to hit the road.
According to Wabi, the Wabi driver will soon hit the road for testing. Wabi has taken its first look at autonomous long-haul shipping as the company helps solve the industry’s labor shortages and ongoing supply chain problems.
Brave Business is changing CEOs, bringing on PayPal, Intuit alum Peter Karpas
The new CEO previously spent time developing e-commerce and payments products at PayPal and Intuit.
Canada’s 2022 Developer 30 Under 30
Developer 30 Under 30 is a recurring list that recognizes some of the top developers based in Canada. WeaveSphere has added a new award to this year’s conference, which honors 20 technology leaders in the country.
Noble, Hopper Top Deloitte Canada’s Fastest Growth 2022 Startup Details
The consulting firm has released its 25th annual list of Technology Fast 50, Enterprise Fast 15, CleanTech and Growth Leaders companies to watch.
Painful changes that helped GSoft scale from zero revenue to $100 million ARR
GSoft hit 100 million ARR by 2021 and is on track to grow its revenue base by 2022, with plans to hire more than 200 new employees across Canada this year.
Recent funding, acquisitions and layoffs
-
Van-Apollo Insurance reportedly lays off 25 percent of employees (read more)
-
Van – VanHack cuts 24% of workforce (read more)
-
Sea – Amazon wholesale cuts hit Canada (read more)
-
CAL – Symend closes $54M, lays off 13% of workforce (read more)
-
Keith-Fair lays off 7 percent of workers (read more)
-
KIT – D2L lay off 5 percent of workers (read more)
-
TOR – Cut 37 percent of employees correctly (read more)
-
TOR – Swift Medical looks to be laying off nearly a third of its workforce (read more)
-
TOR – TealBook cuts 19 percent of staff (read more)
-
TOR – League looks to lay off 7% of staff (read more)
-
TOR – Coho Cuts 4 Percent of Workers (Read More)
-
TOR – Cyclica – $2.4M (read more)
-
OTT – BluWave-ai, Tehama Joint $4.4m (read more)
-
MTL – Terralis Capital – $40 million (read more)
-
MTL – BoostSecurity – $12M (read more)
-
MTL – Alvéole – $8.1M (read more)
-
MTL – PlusGrade Among Teams Receiving Scale AI Funding (Read More)
Will some Canadian tech companies die during the recession?
“Are we willing to let companies die in Canadian technology?”
“yes.”
Special guest and Ottawa native son VC Matt Roberts joins this special Beta Kit podcast with SAAS North recording.
Waverly and the broken internet
If any AI startup comes to you and says, ‘We’ve figured out how to evaluate reality,’ you should be reasonably skeptical. I don’t think we’re going to be close to that.”
Former Googler and former Element AI co-founder Philippe Beaudoin joins forces to explain why the Internet is broken and hopes to fix it by starting his new company, Waverly. We hold the legs to the fire.
Sign up for B|K: The BetaKit Newsletter
Sign up for B|K using the form below to ensure it arrives in your inbox every week from BetaKit.
