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Canadian Tech in 100 Words

Neo Financial Joins Interac as Direct Participant

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Calgary-based Neo Financial has become a direct participant in Interac e-Transfer, gaining access to one of Canada’s core payment networks. The move follows Interac’s expansion to include qualified payment service providers under new regulations. Neo said direct participation will allow greater control over product development and customer experience for its more than one million users.

Interac processed over 1.6 billion transactions last year. The development reflects broader changes in Canada’s payments landscape, as fintech firms gain access to infrastructure traditionally dominated by banks. Executives say the shift will increase competition and accelerate innovation in financial services.

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

Blackline Safety to Go Private in $850M Deal

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Calgary-based Blackline Safety will go private in a deal valued at up to $850 million, following an agreement with an affiliate of Francisco Partners. Shareholders will receive $9.00 per share in cash plus a contingent value right tied to future performance. The transaction represents a premium of up to 34 percent.

Blackline provides connected safety solutions combining hardware, software, and data for industrial environments. The company reported annual recurring revenue of $90.5 million. The deal is expected to close in 2026, pending approvals, after which Blackline will be delisted from the Toronto Stock Exchange.

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

Mappedin Raises $24.5M to Expand Indoor Mapping

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Waterloo-based Mappedin has raised US$24.5 million in new funding led by Edison Partners to expand its indoor mapping technology. The company creates digital maps of complex indoor environments such as hospitals, airports, and shopping centres using artificial intelligence and 3D modelling.

Mappedin plans to extend its platform beyond individual buildings to entire cities and support applications for emergency response and public safety. The firm says it has already mapped more than 10 billion square feet across 86 countries. Executives note that while outdoor navigation is well developed, indoor mapping remains a significant gap in digital infrastructure.

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

GridBank Raises $6M to Expand Video Marketplace

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Montreal-based GridBank has raised $6 million in an oversubscribed seed round co-led by Version One Ventures, StandUp Ventures, and GreenSky Ventures, with participation from Anges Québec. The company operates a platform that enables users to monetize video content captured on their smartphones, targeting individuals beyond traditional creators.

GridBank said the funding will accelerate product development and expand its marketplace to new industries beyond marketing. The firm also plans to launch a content challenge in Montreal this summer. Investors noted initial skepticism but now see potential in GridBank’s model as a transactional layer for real-world data.

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

Aspect Biosystems Secures $79M for Tissue Project

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Vancouver-based Aspect Biosystems has secured $79 million in federal funding toward a $280 million project to advance its 3D-printed tissue therapies. Supported through the Strategic Response Fund, the initiative will enhance clinical development and expand biomanufacturing capabilities for cellular medicines.

Aspect, a University of British Columbia spinout, develops bioprinted tissues using living cells and biomaterials to repair damaged organs. The company will contribute the remaining $201 million. Chief executive Tamer Mohamed said the investment supports its transition toward clinical-stage development. The project builds on prior public and private funding, including partnerships with Novo Nordisk.

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

Shopify Backs AI Payment Standard Initiative

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Shopify has joined a group of technology firms supporting a new standard for AI-driven payments, as the Linux Foundation launches the x402 Foundation. The initiative aims to establish a universal protocol for agentic commerce transactions, with backing from companies including Amazon Web Services, Coinbase, Stripe, and Microsoft.

Shopify said the move aligns with its efforts to expand tools for merchants as AI reshapes online shopping. The company recently broadened access to its agentic commerce features, though analysts suggest financial impact may take time. The foundation is expected to formalize governance and begin operations in the near future.

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

Data Exposure Hits Toronto Fintech Duales

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A security lapse exposed sensitive personal data from users of the Duc App, a money-transfer service owned by Toronto-based Duales. An Amazon-hosted storage server was left publicly accessible without password protection or encryption, allowing access to documents including passports, driver’s licenses, and transaction records.

Security researcher Anurag Sen identified more than 360,000 files, some dating back to 2020. The company restricted access after being alerted but did not confirm whether the data was accessed. Canada’s privacy regulator is investigating. The incident highlights ongoing concerns about data protection as fintech platforms collect sensitive identity information.

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

Denvr Charts New Path in AI Infrastructure

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Calgary-based Denvr is pursuing a distinct strategy in Canada’s rapidly expanding AI infrastructure sector, focusing on modular, scalable systems rather than large data centre developments. The company builds and operates its own infrastructure while offering integrated software and services to support AI application development.

Executives say the approach aims to create domestic demand and support Canadian firms seeking sovereign computing solutions. Drawing on expertise from former Silent-Aire leaders, Denvr emphasizes energy efficiency and flexible deployment. With growing interest in data sovereignty, the company is positioning itself as a national alternative to global hyperscale providers.

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

Canada Invests $79M in AI Manufacturing Projects

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Canada is investing more than $79 million to integrate artificial intelligence into manufacturing, with industry contributing over $50 million and federal funding supplying the remainder. Next Generation Manufacturing Canada announced support for 20 projects spanning automotive, defence, and semiconductor production.

Participating firms include e-Zinc, Xaba, and InPho, each deploying AI to improve efficiency and quality. Officials say the initiative aims to strengthen domestic capacity and global competitiveness. Data shows Canada lags in robotics adoption, though AI and automation can boost productivity. Industry leaders argue immediate deployment of AI technologies is critical to maintaining competitiveness in global manufacturing markets.

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

Built in Canada Awards Celebrate National Innovators

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Build Canada and Simple Ventures hosted the inaugural Built in Canada Awards in Toronto, recognizing leading entrepreneurs and companies shaping the nation’s innovation economy. The event drew over 200 attendees and honoured eight winners selected from more than 400 submissions nationwide.

Categories included growth, impact, and leadership, with recipients such as Clutch, Felix Health, Spellbook, and AlayaCare. Shopify President Harley Finkelstein delivered a keynote emphasizing Canada’s entrepreneurial potential. Organizers said the awards aim to celebrate founders building domestically and strengthen national pride in innovation. Nominations for the next awards cycle are scheduled to open in winter 2026.

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