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Canadian Tech in 100 Words

Peripheral Raises for 3D Sports

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Toronto-based Peripheral has raised $8.7 million in seed funding to expand its spatial intelligence platform for live sports. The round was co-led by Inovia Capital and Deloitte Ventures, with follow-on backing from Khosla Ventures and Entrepreneurs First, bringing total funding to $12.5 million.

Founded in 2024 by Kelvin Cui and Mustafa Khan, Peripheral turns standard multi-camera sports feeds into navigable, game-like 3D environments for immersive replays, player tracking, and biomechanics. The company recently demoed with NBA and WNBA officials through NBA Launchpad and plans to expand engineering, accelerate stadium deployments, and launch a browser-based replay platform later this year.

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Moneris Moves to Francisco Partners

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RBC and BMO have agreed to sell Moneris to Francisco Partners in a deal valued at $2 billion, shifting one of Canada’s biggest payments companies from bank ownership to U.S. private equity. Moneris, founded in 2000 as a joint venture between the two banks, helps merchants accept and manage payments across roughly 325,000 points of commerce.

The deal includes long-term commercial agreements under which RBC and BMO will refer Canadian clients to Moneris. For Francisco Partners, which also owns Verifone and holds a stake in Paysafe, the acquisition adds scale in merchant payments and Canadian financial infrastructure.

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Theia Tracks Safer Patient Care

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Toronto-based Theia is helping New Brunswick researchers evaluate whether patient-turning technology can reduce injury risk for healthcare workers. The study uses Theia3D, the company’s markerless motion-capture platform, to compare caregivers repositioning simulated patients with and without Vendlet, a device from Denmark’s DHG.

Theia’s machine-learning software turns multi-camera video into 3D biomechanical data, avoiding reflective markers that would have made more than 500 trials difficult to run. Researchers from Université de Moncton and the University of New Brunswick are leading the project, with funding from WCB, WorkSafe Saskatchewan, and Mitacs.

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AI Agents Move Into Workflows

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Salesforce’s Agentic Enterprise Index suggests AI agents are moving from pilots into daily business workflows. Based on usage data from companies using Salesforce’s platform, the index found agent use is expanding across sales, service, marketing, commerce, and internal operations as businesses test where automation can improve productivity.

Salesforce says the research tracks real engagement rather than survey sentiment, offering an early look at how agentic AI is being adopted inside enterprises. The findings point to a shift from standalone chatbots toward connected systems that can act across customer data, business apps, and employee processes under human oversight and clear governance.

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Shopify Posts Monster Quarter

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Shopify delivered what president Harley Finkelstein called a “monster quarter,” with gross merchandise volume, revenue, gross profit, and free cash flow all growing more than 30 percent. The Ottawa-founded commerce platform reported second-quarter GMV of $116 billion, up 32 percent year over year, as merchant growth continued across company sizes, geographies, and sales channels.

Revenue also beat expectations, while Shopify guided for third-quarter revenue growth in the low-30-percent range. The results helped ease concerns that AI-powered shopping could weaken traditional e-commerce platforms, instead suggesting Shopify’s merchant tools, checkout, payments, and AI features are reinforcing its role in online commerce.

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Gemini Spark Lands in Canada

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Google is bringing Gemini Spark, its 24/7 personal AI agent, to Canada for eligible Google AI Pro and Ultra subscribers. The experimental tool is designed to complete multi-step tasks across a user’s digital life under their direction, moving Gemini beyond chat toward proactive, agentic assistance.

Spark can work through the Gemini web app, mobile app, and macOS app, helping with planning, research, organization, and follow-through while connected to Google’s broader product ecosystem. The Canadian rollout follows Google I/O, where the company framed Spark as part of Gemini’s next evolution from conversational assistant to always-available digital collaborator for everyday productivity tool.

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Wealthsimple Posts Biggest Quarter

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Wealthsimple reported $17 billion in net flows in the second quarter, its largest quarter ever, as assets under administration nearly doubled year over year. The Toronto fintech says growth was driven by demand for chequing and spending products, not only investing.

The update follows a product push into household finance, business chequing, kids and teens accounts, authorized trading, spending insights, and monthly rewards. Wealthsimple ended the first quarter with $124.8 billion in assets and 3.4 million clients, including one in five Canadians aged 18 to 40 using at least one product, according to the company nationally.

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KPMG Canada Deepens OpenAI Push

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KPMG Canada has formed a strategic alliance with OpenAI to help Canadian organizations move from AI pilots to enterprise-wide deployment. The firm has been named an OpenAI Elite Partner, the highest tier in OpenAI’s Partner Network, and will combine OpenAI technology with KPMG’s transformation, governance, and risk management expertise.

KPMG says it has already enabled more than 3,000 Canadian employees with ChatGPT Enterprise and is using Codex in Deal Advisory to review transaction documents and financial data faster. The alliance also includes cybersecurity work through OpenAI’s Daybreak Cyber Partner Program, targeting secure, responsible AI adoption across public and private sectors.

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Terminal Raises $20M to Connect Truck Data

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Toronto startup Terminal has raised a Series A round led by Battery Ventures, with participation from existing backers Y Combinator and Wayfinder Ventures, plus Intact’s private capital arm and truck dealer Penske.

The 17-person company unifies data from trucks, including dashcam footage, GPS coordinates, dashboard warnings, and 325 connected data sources, so insurers, financial firms, and service providers can use it more easily. Terminal says the funding will help meet partner demand. CEO Raghav Midha plans to double headcount this year. The company is betting commercial vehicle data can support fraud prevention, insurance pricing, and more efficient fleet services nationwide.

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New York Fintech Ramp Opens Canadian Finance Hub

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New York fintech Ramp has launched its finance platform in Canada and is opening a downtown Toronto office to support local customers. The Canadian offering combines corporate cards, payments, expense management, tax automation, approvals, reimbursements, bill payments, and accounting workflows.

Businesses can issue Canadian-dollar physical and virtual cards alongside U.S.-dollar virtual cards, while Ramp’s software captures GST, HST, PST, and QST information from receipts. The company says more than 70,000 organizations use its platform, powering over $200 billion in purchases annually. Canadian Ramp cards are issued by Peoples Trust Company, and Quebec and Saskatchewan businesses are not yet eligible today.

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