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Canadian Tech in 100 Words

 

Lightstrike Targets Enterprise Risks with $1.1M Boost

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Calgary-based Lightstrike has raised $1.1M in seed funding, led by Sprout Fund II with support from a U.S. angel syndicate, Alberta family offices, and Weave VC. The startup specializes in application dependency management, using AI to identify hidden risks and prevent cascading failures in enterprise systems.

CEO Vernon Briggs emphasized Lightstrike’s mission to provide businesses with control over complex dependencies. Partner Kristina Milke praised Lightstrike’s innovative solutions, describing its platform as essential for modern enterprise risk management. The funds will fuel North American expansion and customer acquisition, solidifying Lightstrike’s position in this emerging sector.

Want to know more? Check out the source code on Calgary.tech.

NEO Battery Joins $20M Recycled Silicon Project

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Toronto-based NEO Battery Materials has been named a consortium partner in a $20M recycled silicon battery project funded by South Korea’s Ministry of Trade, Industry, and Energy. The initiative, led by Hansol Chemical, focuses on repurposing silicon scrap from semiconductor and photovoltaic production to create high-content silicon anodes for next-generation lithium-ion batteries.

NEO will optimize recycled silicon inputs and collaborate to develop longer-lasting, rapid-charging batteries. CEO Spencer Huh emphasized the project’s role in material circularity and cost-effective battery advancements, aligning with NEO’s strategic goals. The initiative marks a major milestone for sustainable battery innovation.

Want to know more? Check out the source code on CleanEnergy.ca.

Payfare Launches Pronto for On-Demand Wage Access

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Earned wage access company Payfare has launched Pronto, a product offering Canadian hourly workers on-demand access to their earned wages. Built on Payfare’s payout platform, Pronto enables employees to access wages as they earn, bypassing traditional pay cycles. CEO Marco Margiotta highlighted Pronto’s benefits, including improved employee satisfaction, retention, and productivity.

Despite a recent strategic review following a customer loss, Payfare remains profitable and committed to innovation. Pronto reflects Payfare’s ongoing focus on financial wellness solutions for workforces, with a strong pipeline of opportunities in the gig economy and earned wage access markets.

Want to know more? Check out the source code on Fintech.ca.

Vancouver Startup Arca Revolutionizes Carbon Mineralization

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Vancouver-based Arca is piloting its innovative air-to-rock carbon mineralization technology at BHP’s Mt Keith Nickel West Mine in Australia, supported by a $1.2M investment from the B.C. Centre for Innovation and Clean Energy (CICE). Using machine learning and advanced surface manipulation, Arca accelerates carbon capture in mine tailings, producing verifiable carbon dioxide removal credits.

Named BC Cleantech Awards’ Startup of the Year and a top 20 finalist in the XPRIZE Carbon Removal competition, Arca is scaling its technology to support mining decarbonization and the global clean energy transition. CICE’s COO calls Arca a cleantech pioneer.

Want to know more? Check out the source code on CleanEnergy.ca.

Sanctuary AI CEO Geordie Rose Forced Out Amid Layoffs

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Sanctuary AI’s board has removed co-founder Geordie Rose as CEO, setting off significant personnel changes. Interim CEO James Wells replaces Rose, while chief marketing officer Benedict Reed resigned, and 30 employees were laid off. The robotics startup, known for its Phoenix humanoid robot, has raised $140 million from investors like Magna and Microsoft.

However, investor concerns loom over Sanctuary’s ability to secure future funding in the competitive robotics sector. Sanctuary competes with global leaders like Tesla and Figure AI, which raised $675M this year. A leadership search is underway as Sanctuary navigates these challenges.

Want to know more? Check out the source code on Techcouver.

Noble Raises $15M to Expand Stablecoin Ecosystem

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Toronto-based blockchain startup Noble has raised $15 million in a Series A round led by Paradigm, with participation from Foresight, Wintermute Ventures, and Informal Systems. The funds will fuel hiring and product development, focusing on stablecoin adoption within the Cosmos network.

Co-founder Jelena Djuric founded Noble after the 2022 Terra collapse, which heavily impacted Cosmos. To date, Noble has issued $450M in stablecoins and assets, facilitating over $5B in transactions. The company plans to launch its own stablecoin, the Noble Dollar, as part of its mission to bolster Cosmos’ blockchain ecosystem.

Want to know more? Check out the source code on The Logic.

UCalgary Researcher Wins Award for Mine Safety Innovation

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University of Calgary researcher Dr. Susanne Ouellet has won the Mitacs Innovation Award for Outstanding Innovation for her work improving tailings dam safety. Using distributed acoustic sensing (DAS) technology, Ouellet transforms fibre optic cables into real-time sensors to detect strain, temperature, and seismic changes within dam structures.

This early warning system aims to prevent disasters like the recent Philippine dam collapse. Backed by Mitacs and Alberta, Ouellet launched Lumidas, a cleantech startup developing software to enhance the system’s usability. Industry partners and a critical dataset from the British Geological Survey further advanced her groundbreaking research.

Want to know more? Check out the source code on Calgary.tech.

Beacon Launches Wallet for Immigrants to Canada

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Toronto-based Beacon has introduced Beacon Money, a digital wallet designed to support immigrants in Canada. Launching in January 2025 via the MyBeacon Super App, the wallet allows users to open and fund accounts before arrival. Permanent residents, students, and workers can use it for tuition payments, salaries, and daily expenses.

Key features include pairing with Beacon Remit, enabling seamless money transfers from India. CEO Stuart Szabo highlighted the wallet’s goal to empower immigrants, while Visa and Digital Commerce Group emphasized their partnership in bringing the wallet to life. Beacon Money aims to redefine financial services for newcomers.

Want to know more? Check out the source code on Fintech.ca.

Stripe to Power Over 1 Million 1Password Subscriptions

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Stripe announced its partnership with 1Password to manage over a million subscriptions using Stripe Billing and Radar. Toronto-based 1Password, trusted by 150,000 businesses, offers identity security solutions and generates two-thirds of its revenue from business clients.

Stripe Billing supports 1Password’s global expansion by handling complex pricing and billing cycles, while Stripe Radar reduces fraud and false declines. The collaboration also leverages network tokenization to boost revenue and reduce churn. Stripe, which uses 1Password as its enterprise password manager, highlighted the shared focus on security and efficiency.

Want to know more? Check out the source code here.

Ottawa Renews $47.5M for Scale-Up Platform

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The federal government is renewing its Scale-Up Platform program with $47.5 million for Communitech, MaRS Discovery District, and Invest Ottawa. The program helps high-growth companies access capital, talent, and mentorship to build Canadian “anchor firms” generating $100M+ annually.

Despite falling short of the $52.4M initial funding in 2019, the renewed program reflects optimism, with MaRS ventures generating $9.8B in revenue and Invest Ottawa scaling firms raising $1.39B in capital. Leadership transitions occurred across all hubs, with MaRS CEO Alison Nankivell highlighting the impact of continued investment in creating global-scale Canadian companies.

Want to know more? Check out the source code on BetaKit.