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Canadian Tech in 100 Words

Carney Scraps EV Mandate

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Prime Minister Mark Carney unveiled a national automotive strategy Thursday aimed at stabilizing Canada’s vehicle manufacturing sector amid trade pressure and slowing electric vehicle demand. The government will repeal the federal EV sales mandate and replace it with greenhouse gas emissions standards targeting 75 per cent EV adoption by 2035, with flexibility for automakers to meet reductions through other technologies.

Ottawa will reintroduce consumer EV rebates worth up to $5,000 and invest $1.5 billion in charging infrastructure. The strategy also dedicates $3 billion from the Strategic Response Fund to vehicle manufacturing, while maintaining retaliatory tariffs against U.S. autos and proposing tradeable import credits to incentivize domestic production.

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

Halifax Startup Advances Carbon Capture

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Halifax-based climate technology firm pHathom Technologies has closed a $4 million seed financing round to advance carbon capture for coastal bioenergy and industrial facilities. The round was led by Propeller Ventures, with participation from the New Brunswick Innovation Foundation, Invest Nova Scotia, and Carmeuse Ventures.

Founded in 2024 by Dr. Kimberly Gilbert, pHathom captures biogenic carbon dioxide and converts it into stable dissolved inorganic carbon using existing infrastructure. Combined with its role in a $16 million Ocean Supercluster project, pHathom’s total committed capital now exceeds $12 million. The funding will support pilot deployments, scientific validation, and regulatory work for durable, verifiable carbon storage.

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

U.S. PE Firm Buys Vancouver Fintech PayByPhone

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A U.S. private equity firm has agreed to acquire Vancouver-based mobile parking payments company PayByPhone. New York-based Lightyear Capital signed a deal to purchase the fintech from corporate payments provider Corpay. PayByPhone serves more than 1,300 clients worldwide with digital parking payments and management software.

Chief executive Jonny Combe said the transaction supports the firm’s strategy to expand beyond parking into broader mobility payments. Lightyear said PayByPhone will operate independently and benefit from its fintech expertise. The acquisition is expected to close in the second quarter of 2026, subject to regulatory approvals.

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

Brilliant Harvest Raises US$4M Seed Round

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Calgary-based Brilliant Harvest has raised US$4 million in seed financing to expand its AI-powered customer experience platform for heavy equipment dealerships. New investors include FTW Ventures, Alpaca VC, Automotive Ventures, SVG Ventures, and NYA Ventures, alongside returning backers Builders VC and AltaML.

The company reports adoption across dealerships representing more than half of CNH Industrial’s large dealer network. Multiyear renewals with Rocky Mountain Equipment and Titan Machinery underscore customer confidence. Founder Remi Schmaltz said the funding will support product expansion beyond service teams, while maintaining capital efficiency. Brilliant Harvest was previously named to Calgary.tech’s Startups to Watch list for 2025.

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

TELUS Opens Sovereign AI Factory to Startups

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TELUS and L-SPARK announced a partnership to give Canadian startups access to the TELUS Sovereign AI Factory, the country’s most powerful supercomputer. The initiative addresses a key constraint facing domestic AI firms: limited access to high-performance compute without relying on foreign infrastructure.

Powered by NVIDIA H200 GPUs and Quantum 2 InfiniBand networking, the facility enables startups to train and deploy models under Canadian jurisdiction. TELUS CIO Hesham Fahmy said the collaboration keeps sensitive data, intellectual property, and economic value in Canada. The program prioritizes regulated sectors such as healthcare, finance, and public services, expanding enterprise-grade AI infrastructure to companies of all sizes nationwide.

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

Salesforce Report: AI Leads Sales Growth in 2026

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Salesforce has released its 2026 State of Sales Report, based on a survey of more than 4,000 sales professionals, revealing that artificial intelligence and AI agents are now the top growth tactic for sales teams in the year ahead.

According to the report, sales organizations that deploy AI agents are 1.7 times more likely to outperform peers, with agents expected to cut research time by about 34 percent and content creation by about 36 percent. The data also shows administrative tasks remain a productivity drag, especially for younger sellers. Sales teams report broad AI adoption and optimism for growth despite operational challenges.

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

AI Drives Canada’s VC Growth in 2025

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Canadian venture investment rebounded in 2025, driven largely by artificial intelligence. According to analysis by Inovia Capital using PitchBook data, Canadian companies raised US$5.6 billion, a 29 per cent increase year over year. AI-native firms captured 40 per cent of all venture dollars, up sharply from 2024 and double their share in 2015.

Canada outpaced peer economies including the U.K., France, Australia, and Germany. Inovia partner Kory Jeffrey cited global investor interest. Major contributors included Toronto-based Waabi and Cohere, which raised US$750 million and US$600 million respectively.

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

Calgary Startups Compete in Global Awards

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Two Calgary startups are seeking public support as finalists in the 2026 Global Startup Awards. Proptech company ResVR is nominated for Startup of the Year, while sustainability software firm Arbor is shortlisted for Youth Startup of the Year. Both were previously named to Calgary.tech’s Startups to Watch in 2026 list.

ResVR enables homebuyers to visualize properties using immersive 3D tools, while Arbor provides automated carbon accounting software for businesses. Public voting remains open until February 17, with winners gaining international exposure and growth opportunities. Supporters are encouraged to vote and help showcase Calgary’s innovation ecosystem globally.

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

IBM Flags Canada’s Defining AI Moment

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IBM Canada says Canadian businesses are entering a defining moment for artificial intelligence, according to a new report outlining five trends shaping confidence, speed, and trust in 2026. The study finds executives optimistic about their own organizations despite economic uncertainty, with strong emphasis on AI sovereignty and secure domestic infrastructure.

Agentic AI is accelerating decision-making, while trust and transparency remain critical for adoption. Workforce sentiment is largely positive, though resistance persists around AI-led management. IBM argues that enterprises moving from experimentation to operational AI will gain competitive advantage as Canada positions itself as a global leader in responsible AI deployment.

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

Neo Financial Raises $68.5M at Higher Valuation

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Calgary-founded fintech Neo Financial has raised $68.5 million in an oversubscribed round led by more than 100 Canadian investors, at a valuation above its $362-million Series D in 2024. Backers include Alberta Investment Management Corporation, Northleaf Capital Partners, Plaza Ventures, and Sandstone Asset Management.

Neo will use the capital to launch Canada’s first fintech-led securitization program, enabling bank-style, capital-efficient credit growth. Chief executive Andrew Chau said the move aligns Neo with Tier 1 banking practices while scaling lending nationally. The raise underscores growing domestic confidence in Alberta-built financial technology and signals a maturation of Canada’s fintech ecosystem.

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