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Canadian Tech in 100 Words

General Fusion to Go Public in US$1B Deal

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General Fusion has agreed to go public via a merger with a U.S. special purpose acquisition company, valuing the fusion developer at US$1 billion. The Richmond, British Columbia company will combine with Dallas-based Spring Valley Acquisition Corp. III and plans to trade on the Nasdaq after closing.

The deal includes roughly US$105 million in PIPE financing and up to US$230 million from Spring Valley’s trust. After recent funding challenges, General Fusion says the transaction advances its goal of delivering commercially viable fusion power and bringing energy to the grid. Want to know more? Check out the source code here.

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PwC Survey Flags Trade, Tech Headwinds

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PwC Canada’s 29th CEO Survey shows confidence sliding as geopolitical risk and looming CUSMA talks weigh on leaders. Only 47 percent expect the global economy to improve in 12 months, versus 61 percent globally, while just 27 percent expect Canada’s economy to improve, down from 42 percent last year.

Trade policy worries persist, with 53 percent citing U.S. risk and 35 percent bracing for thinner margins. Although 94 percent have experimented with AI, only 29 percent have deployed it at scale, below the 43 percent global rate. Just 37 percent have an AI roadmap. The report urges a reinvention mindset.

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

Integrated Quantum Unveils Quantum-Resilient AI Layer

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Integrated Quantum Technologies unveiled AIQu™ VEIL™, a quantum-resilient AI infrastructure designed to let enterprises scale artificial intelligence without exposing regulated or proprietary data. VEIL uses a Vector-Encoded Information Layer that anonymizes and compresses information before it enters AI pipelines, allowing models to operate without raw data access.

The company says the approach preserves speed and accuracy while easing compliance across jurisdictions and strengthening long-term security. Chief executive Alan Guibord called VEIL a foundational shift for enterprise AI. Developed by former Equifax executive Jeremy Samuelson, the platform targets industries facing strict privacy and regulatory demands.

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

Shopify Cuts Staff in Partnerships Restructure

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Shopify has laid off a number of employees from its partnerships division as part of a restructuring, according to sources familiar with the matter. The cuts, carried out Wednesday, eliminated multiple roles and an entire team as the company revamps how it works with third-party partners. Affected staff were told their positions were being removed due to an organizational overhaul.

Shopify confirmed it is “starting a new chapter” in partnerships, with a renewed focus on initiatives such as agentic commerce. The company declined to disclose the number of layoffs. The changes follow several rounds of staff reductions in recent years, even as Shopify’s revenue and share price have continued to grow.

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

Chata.ai Raises US$10M to Scale Financial Analytics

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Calgary-based Chata.ai has raised US$10 million in Series A financing to expand its conversational analytics platform for financial services. The round was led by 7RIDGE with participation from Izou Partners. Chata.ai allows financial professionals to query and monitor data using natural language, reducing reliance on dashboards and technical teams.

Unlike probabilistic AI systems, the platform uses a deterministic architecture that runs on CPUs, delivering consistent, auditable results suited to regulated environments. CEO Kelly Cherniwchan said the funding will support growth across traditional finance, decentralized finance, and wealthtech, as institutions seek reliable AI tools that address compliance, data integrity, and infrastructure cost concerns.

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

WaitWell Launches AI Layer for Service Operations

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Service operations platform WaitWell has launched Waillo, a new AI service layer aimed at improving queue management, bookings, and service delivery in high-volume environments. Used by more than 1,700 government offices, universities, and healthcare providers across North America, WaitWell says Waillo enhances human interactions rather than replacing them.

The system acts as an intelligence and routing layer, helping customers reach appropriate staff more quickly while giving administrators clearer operational insight. Features include Waillo Chat for natural-language service routing and Waillo Insights, which translates questions into real-time analysis and recommendations. CEO Steven Vander Meulen said the goal is to reduce friction without adding automation barriers.

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

Teamworks Acquires Hockey Analytics Firm Sportlogiq

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Montréal-based sports analytics firm Sportlogiq has been acquired by North Carolina–based sports operations platform Teamworks in an undisclosed deal. Founded in 2015, Sportlogiq uses computer vision and machine learning to track gameplay and player performance and is now used by 97 percent of NHL teams.

Teamworks said the acquisition strengthens its hockey analytics offering by combining Sportlogiq’s video and data infrastructure with predictive intelligence models. Sportlogiq’s 80 employees, including AI researchers, will join Teamworks. The buyer serves more than 6,500 teams globally and reached a valuation above US$1 billion last year.

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

Mila, Inovia Launch $100M AI Venture Fund

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Montréal-based AI institute Mila has partnered with venture firm Inovia Capital to launch the Venture Scientist Fund, a $100-million USD early-stage initiative aimed at commercializing Canadian AI research. Announced at Mila headquarters, the fund will back promising research from Mila, Alberta’s Amii, and Toronto’s Vector Institute, supporting scientists at the earliest stages of startup formation.

Mila CEO Valérie Pisano said the effort aligns with federal priorities to accelerate AI commercialization under Prime Minister Mark Carney. Inovia will co-manage the fund, which formally began fundraising this week. Mila managing director Stéphane Marceau will oversee operations, supported by a team of experienced venture advisors.

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

Aspect Biosystems, Novo Nordisk Deepen Collaboration on Diabetes Cell Therapies

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Vancouver-based Aspect Biosystems and Novo Nordisk have expanded their partnership to accelerate the development of advanced cellular medicines for diabetes. Building on a collaboration launched in 2023, the new agreement gives Aspect rights to key stem cell–derived islet and hypoimmune cell engineering technologies, with Aspect leading development, manufacturing, and commercialization.

Novo Nordisk will make an additional equity investment, provide research funding, and retain options for later-stage participation, as well as eligibility for milestones and royalties. The partnership integrates U.S. and Danish capabilities into Aspect’s Canada-anchored platform, strengthening its end-to-end cell therapy development efforts.

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

Jetson Raises $50M to Scale Home Electrification

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Vancouver-based Jetson has raised $50 million in a Series A round to scale its home electrification platform. The financing was led by Eclipse, with participation from 8VC, Activate Capital, Garage Capital, and Active Impact. Founded in 2024, Jetson focuses on all-electric heat pump systems replacing gas furnaces.

Its flagship Jetson Air product delivers whole-home heating and cooling through existing ductwork using a vertically integrated, direct-to-consumer model. The company says the funding will support U.S. expansion and platform development. Investors say the approach reduces costs, speeds installs, and improves homeowner adoption.

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