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Canadian Tech in 100 Words

ApplyBoard Faces Growth Reckoning

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ApplyBoard faces renewed scrutiny as Canada’s international education market contracts and former employees describe cultural strains behind its rapid rise. The Kitchener company connects students with schools worldwide and grew into a unicorn before policy shifts pressured its model.

Reports have tied recent layoffs to changing rules across major study destinations, while The Logic says former workers cited intense expansion demands and workplace concerns. ApplyBoard still promotes access to more than 1,500 institutions and 150,000 programs globally, but its challenge now is rebuilding confidence amid market, valuation, and culture questions.

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

Drone Data Powers Physical AI Push

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Vancouver-based Spexi Geospatial has partnered with Niantic Spatial to convert drone imagery into large-scale 3D intelligence for physical AI. The collaboration gives Spexi customers access to Niantic’s reconstruction technology, producing high-fidelity 3D models through the Spexi World platform. Spexi will also serve as a preferred drone imagery provider for training Niantic’s real-world foundation models.

The partnership combines Spexi’s aerial data network with Niantic’s expertise in spatial computing, supporting applications in simulation, mapping, and AI training. Executives said the deal advances the use of real-world spatial data for intelligent systems.

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

Investors Seek AI Policy at Shopify

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SHARE is urging Shopify shareholders to support a proposal requiring the company to adopt a responsible artificial intelligence policy before its June 16 annual meeting. Filed for The Pension Plan of The United Church of Canada, the proposal comes as Shopify expands generative AI and agentic commerce tools.

SHARE argues current disclosures do not adequately explain how AI risks, including misinformation, fraud, privacy, and human rights concerns, are managed. It says peers including Adobe, Salesforce, SAP, ServiceNow, and eBay already publish responsible AI frameworks. The proposal aims to strengthen governance and protect shareholder value.

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

Osler Report Tracks Venture Market Stabilization

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Osler’s latest Deal Points Report shows Canada’s venture financing market stabilizing after several uneven years. Drawing on confidential data from 646 preferred share financings between 2020 and 2024, representing more than US$11.4 billion in transaction value, the report highlights regional strength in Ontario, British Columbia, Québec, and emerging Prairie ecosystems.

Osler says Canadian deal terms remain broadly aligned with CVCA and NVCA model documents, suggesting companies continue raising on market terms. The report also points to renewed activity in larger financings, even as startups face a more selective capital environment.

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

TD Warns Canada Must Retain Tech Talent

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Canada’s technology talent challenge is increasingly about retention, according to TD Economics. The report says Canada produces strong research, education and skilled immigration outcomes, but struggles to keep top workers inside domestic companies that scale globally.

TD warns the country risks becoming a feeder system for the United States, as STEM graduates and technical workers pursue larger innovation ecosystems. It points to weak commercialization, scale-up capacity, compensation gaps and tax pressures domestically. The solution, TD argues, is building stronger companies, deeper capital markets and career pathways that make staying attractive.

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

Wealthsimple Expands Banking Ambitions

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Wealthsimple is expanding beyond investing with banking services for households, children, and businesses. Announced at Wealthsimple Presents in Calgary, the rollout includes Wealthsimple Households, Kids and Teens Accounts, Authorized Traders, and Wealthsimple Business. The company said more than 315,000 people registered for the livestream, while 650 attended in person.

Business Chequing is available now, with additional products including a prepaid business card, U.S.-dollar accounts, and credit backed by corporate investments. Wealthsimple also launched Spend Insights to track transactions and identify opportunities. The move positions Wealthsimple as a broader financial platform.

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

Relay Raises $50M to Expand Banking Platform

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Toronto-born fintech Relay Financial has raised $50 million from General Catalyst’s Customer Value Fund to expand its business banking platform. Relay serves more than 150,000 small businesses and manages over $1.3 billion in customer deposits.

Chief executive Yoseph West said the funding will help grow Relay’s brand and market reach, particularly among American entrepreneurs seeking cash flow clarity. The round follows a US$32 million financing led by Bain Capital Ventures in 2024. Relay recently launched term loans through Relay Capital, adding lending to its platform as demand for small-business financing rises.

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

Rogers Invests $5M in Vancouver 5G

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Rogers is investing $5 million to upgrade its 5G+ network in Vancouver ahead of the FIFA World Cup. The improvements will target BC Place, fan zones, hotels, SkyTrain stations, and high-traffic downtown areas to support visitors and residents during the tournament.

Rogers said the upgrades include additional spectrum, temporary Cells on Wheels, and new technology to improve speed, capacity, and reliability. The investment builds on prior network work at BC Place before Taylor Swift’s Eras Tour. Rogers is also investing in Toronto as Canada prepares to host global soccer events.

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

CoreWeave Anchors Calgary AI Data Centre

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CoreWeave will anchor the first phase of eStruxture’s new CAL-3 data centre in Rocky View County, strengthening Calgary’s position in artificial intelligence infrastructure. Montreal-based eStruxture said the 90-megawatt, Tier III-designed facility will come online in the second half of 2026 and support high-density AI computing.

The project forms part of more than $1 billion in Alberta digital infrastructure investment. CoreWeave, a Nasdaq-listed AI cloud platform, cited provincial support as a factor in long-term investment. Executives said the deal reinforces Alberta’s role in Canada’s data economy and global AI supply chain.

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

Second-Life Battery Site Targets Global Scale

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Moment Energy is building a new Surrey facility it says will become the world’s largest certified second-life battery repurposing site. Announced at Web Summit Vancouver, the project is expected to reach full operations by the end of June 2026 and scale to 1 GWh of capacity by 2030.

The facility will create more than 100 skilled jobs and support energy storage demand from data centres, utilities, and industrial customers. Moment repurposes retired electric vehicle batteries into commercial storage systems, extending material life while supporting power resiliency and domestic clean energy infrastructure.

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