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Canadian Tech in 100 Words

 

Shopify Merchants Smash Records with $9.3 Billion in Black Friday Cyber Monday Sales

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Shopify, a key player in internet commerce infrastructure, announced a remarkable achievement with Shopify merchants hitting a record $9.3 billion in sales during the Black Friday Cyber Monday (BFCM) weekend, marking a 24% increase from the previous year.

The global impact was substantial, with over 61 million consumers purchasing from Shopify-powered brands across various continents. Shopping reached its peak at an astonishing $4.2 million per minute on Black Friday.

Shopify President Harley Finkelstein expressed admiration for entrepreneurs, highlighting the testament to their consistent delivery of exceptional products and experiences that resonate with a global consumer base.

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

Good Future and BetaKit Join Forces: A New Chapter for Canadian Tech Media

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In a strategic move, tech publication BetaKit has announced a pivotal partnership with Good Future, led by Canadian entrepreneurs Arati Sharma and Satish Kanwar.

Good Future, a family office, will become BetaKit’s majority shareholder, injecting capital to fuel growth. The collaboration aims to expand BetaKit’s editorial and business teams, enhancing its media platform serving millions.

While Good Future’s investment brings new leadership, BetaKit’s editorial independence remains intact. This alliance marks a significant step in advancing the mission to support innovative founders. Exciting times ahead for Canadian tech journalism.

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

Shakepay Responds to Customer Demand with Everyday Payments

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Montreal’s Shakepay has responded to growing customer demands by introducing everyday payments, offering a seamless financial experience. Users can now enjoy direct deposits, bill payments, e-transfers, and rewards for regular account activity.

The innovative Shakepay Visa prepaid card, a pioneering bitcoin cashback card in Canada, allows users to earn up to 2% in bitcoin on all purchases.

With over 1.3 million registered accounts, Shakepay, founded in 2015, has evolved from its Crypto Trading Platform to become a leader in easy bitcoin transactions while prioritizing industry safety standards.

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

Sun Life Fuels Pillway’s Mission to Revolutionize Pharmacy for the Digital Age

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Digital pharmacy Pillway has secured a significant minority investment of $9.5 million from Sun Life, affirming a commitment to advancing digital health solutions.

The collaboration, evident in the successful Lumino Health Pharmacy app, aims to redefine how individuals manage their health, especially for Sun Life’s Group Benefit Clients across Canada.

In an increasingly competitive HealthTech sector, this funding reflects a strong endorsement of Pillway’s value proposition. Pillway’s CEO, Lak Gill, emphasizes the investment’s significance beyond financial support, anticipating accelerated growth and an enhanced ability to provide personalized, technology-driven healthcare solutions, furthering their impactful partnership with Sun Life.

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

PASQAL’s $90M Quantum Tech Initiative Positions Sherbrooke as Quantum Hub

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Quantum computing leader PASQAL has initiated a groundbreaking $90 million quantum technology venture in Sherbrooke, Quebec.

Supported by a $15 million loan from the Government of Quebec, the five year project aims for manufacturing, research, and commercialization within DistriQ, a quantum innovation zone.

With Espace Quantique 1 set to open in 2024, the facility will manufacture neutral-atom quantum computers and foster innovation in a 5,000 square meters collaborative space.

PASQAL’s CEO, Georges-Olivier Reymond, emphasizes the initiative’s role in attracting global talent and companies, positioning Sherbrooke as a prominent quantum hub in North America.

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

Tech Talent Exodus: Canada’s Challenge Amidst U.S. Salary Surge

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A startling revelation hits the Canadian tech landscape as U.S. tech workers are found to earn 46% more than their Canadian counterparts. The ensuing brain drain is attributed to the scarcity of large tech companies in Canada, affecting salary margins and equity value.

The solution, according to experts, lies in incentivizing startups and established firms. Larger companies must offer competitive salaries, benefits, and focus on upskilling to retain skilled workers.

Creating more exit opportunities for tech businesses, liberalizing capital investment, and addressing the cost of living are crucial steps to ensure Canada remains a tech hub.

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

Amazon Breaks Ground with First Canadian Wind Farm Investment

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In a groundbreaking move, Amazon is set to invest in its first Canadian wind farm, a 495-megawatt capacity project in Vulcan County, Alberta.

Teaming up with Copenhagen Infrastructure Partners, this marks Amazon’s fourth renewable energy venture in Canada. The initiative follows the opening of the Travers Solar Project, the largest solar farm in the nation, both powering Amazon’s Alberta operations.

The tech giant, committed to 100% renewable energy by 2030, leads in corporate environmental responsibility. Joining a trend, Amazon follows other big players like RBC, Shopify, Telus, and Ikea in embracing long-term renewable electricity contracts.

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

Deep Sky Secures $57.5M to Make Canada Carbon Removal Capital

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Montréal’s Deep Sky, a carbon-capture startup, has secured $57.5 million in Series A funding, and aims to position Canada as the “carbon removal capital of the world.”

Co-led by Brightspark Ventures and Whitecap Venture Partners, with notable investments from Investissement Québec and others, this round, along with a $17.7 million seed note, totals the young company’s funding at $75 million.

Founded in 2022 by Hopper co-founders, Deep Sky plans to use the funds to construct its first commercial facility and develop software for carbon credit sales, leveraging Eastern Canada’s hydroelectric energy for large-scale carbon removal.

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

Navigating the AI Wave: Conference Board Stresses Preparedness for Changing Work Dynamics

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Generative AI tools, notably ChatGPT, are poised to revolutionize the landscape for STEM professionals and knowledge workers, asserts research from The Conference Board of Canada.

Launched in November 2022, ChatGPT’s impact underscores a pivotal shift in AI’s role in the workplace. Professionals with a blend of writing and programming skills, a niche but existent group including some STEM workers, will witness the most substantial effects.

While AI’s current limitations necessitate human knowledge and judgment, it’s anticipated to complement, not replace, job functions. Organizational readiness is emphasized, urging leaders to establish appropriate use policies and monitor regulatory developments.

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

Unilever Unveils Global AI Hub in Toronto

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In a move signaling a tech-driven future, Unilever inaugurates Horizon3 Labs, a cutting-edge AI facility in Toronto. The British consumer goods giant intensifies its tech focus, leveraging AI across sectors from customer service to logistics.

Unilever’s Chief Data Officer, Andy Hill, emphasizes the company’s significant investment in AI to drive innovation globally. Positioned strategically in Toronto, renowned for its AI expertise, the lab aims to tap into the city’s dynamic tech talent pool.

The collaboration with Toronto Global reinforces the city’s standing as a global AI innovation leader.

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