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Canadian Tech in 100 Words

Wafr Targets AI Cooling Crunch

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Vancouver-based Wafr Technologies says it has raised $100 million toward a $300 million target to commercialize cooling for AI data centres and build a Canadian AI research lab. Wafr is focused on facility-level, closed-loop cooling infrastructure for high-density computing environments, positioning its platform as complementary to direct-to-chip and rack-level systems.

The company says typical data centres can use up to 10 million litres of water per megawatt annually, while cooling represents 30 to 45 percent of electricity load. Wafr claims its technology can cut water consumption by up to 95 percent and cooling power use by up to 80 percent.

Dominion Dynamics Raises USD $100M

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Ottawa-based Dominion Dynamics has raised US$100 million to build defence technology for harsh northern environments and scale its workforce. The Series A round was led by Georgian, with backing from OMERS, BDC, RBC, Deloitte Ventures Canada, BCI, Bessemer, Garage Capital, Golden Ventures and others.

Founded in 2025 by CEO Eliot Pence, Dominion is developing an autonomy stack for the Arctic. Its AuraNet software was deployed this year with the Canadian Armed Forces during Operation Nanook-Nunalivut, helping Rangers combine communications and data into a single operating picture. The company plans to grow from 50 employees to 100 by year-end 2026 further.

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

Farpoint Builds AI for Real Work

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Vancouver-based Farpoint Technologies is positioning itself as an applied AI firm for organizations where consumer tools are not enough. Led by Nicholas Ning, the company builds custom AI systems for regulated, secure, and data-sensitive sectors including government, finance, energy, and defence.

Farpoint’s platforms include Fabric, a sovereign AI coding system designed to run inside customer security boundaries, and Lattice, a measurement layer that benchmarks deployments against existing workflows. Ning argues AI value comes from production systems, not strategy decks, and that Canada’s AI sovereignty will depend on domestic procurement, growth capital, customer trust, and companies choosing to scale at home.

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

Deep Sky Certifies DAC Credits

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Montreal-based Deep Sky has captured and permanently removed carbon dioxide from the atmosphere at its Alpha facility in Innisfail, Alberta, marking what it says are North America’s first certified direct air capture carbon removal credits. The credits were independently reviewed and registered by Isometric and will be delivered to Microsoft and Royal Bank of Canada under an agreement running through 2034.

Deep Sky, a tech-agnostic carbon removal developer, began the Alberta facility in 2024 and is testing multiple DAC technologies before scaling commercial operations. CEO Alex Petre called the milestone a proof point for building and delivering measurable carbon removal.

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

Wealthsimple Prepares Prediction App

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Wealthsimple is launching Predict, a standalone app that will give Canadian retail investors regulated access to event-contract trading, also known as prediction markets. The app, now in beta, is expected this summer after the Canadian Investment Regulatory Organization authorized Wealthsimple in March to offer forecast contracts.

At launch, Predict will provide access to about 4,000 contracts from U.S. exchange Kalshi, limited to approved categories such as economic indicators, financial markets, and climate-related events. Wealthsimple says the app will include education, disclosures, risk reminders, liquidity warnings, and guardrails, reflecting caution as Canadians gain exposure to this fast-growing market segment.

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

Bell Anchors Sovereign AI Push

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Bell Canada’s Merritt, B.C. data centre will anchor a new sovereign AI partnership with Cohere, Hypertec, and BUZZ High Performance Computing. The deal combines Bell’s data centre and network assets, Cohere’s enterprise AI models, Hypertec’s Canadian-built AI and high-performance computing servers, BUZZ HPC’s sovereign cloud platform, and NVIDIA accelerated computing.

The partners say the goal is to give governments and enterprises access to advanced AI infrastructure located, operated, and governed in Canada. Bell says Merritt will provide capacity and connectivity, while BUZZ operates the AI-native cloud layer and Cohere runs foundation models for secure public- and private-sector deployments in Canada.

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

CPP Investments Deepens India Data Bet

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CPP Investments is committing up to $1 billion to a new Indian data centre partnership with CtrlS Datacenters, expanding its digital infrastructure footprint in one of the world’s fastest-growing data economies. The Toronto-based investment manager will invest $588 million to acquire an 8.2 percent stake in CtrlS, and up to $441 million into a joint venture to develop hyperscale campuses across India.

CPP Investments will hold 48 percent of the venture, with CtrlS owning 52 percent. The partnership targets demand from hyperscalers, cloud providers, AI applications, and enterprises as India’s digital economy scales and data infrastructure needs substantially accelerate ahead.

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

Workers Still Wary of AI

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A Salesforce survey of more than 1,500 desk workers found American employees are 43 percent more likely than the global average to describe themselves as AI skeptics. The concern is not just job loss. Workers pointed to generic outputs, insufficient training, and low trust as the top reasons AI pilots fail.

Salesforce argues the fix is less about selling AI’s promise and more about building better conditions for adoption: secure tools, stronger data foundations, role-specific customization, and training. Among workers who successfully moved beyond pilots, 76 percent became AI advocates and 63 percent now use AI daily.

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

Nuvei Buys Payoneer for $2.75B

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Montreal-born payments company Nuvei is acquiring New York-based Payoneer in a $2.75 billion all-cash transaction, a deal aimed at creating a broader global financial infrastructure platform. Nuvei will pay $7.40 per share for Payoneer, whose cross-border payouts, banking network, same-day and real-time settlement capabilities complement Nuvei’s payment acceptance business.

The combined company says it will help businesses accept payments, send funds, issue cards, manage treasury and foreign exchange, and access embedded financial services. The boards of both companies have approved the transaction, which is expected to close in mid-2027, subject to customary conditions, with Goldman Sachs serving as lead advisor.

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

Nesto Hits $1.5B Valuation

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Montreal fintech nesto has raised $302 million in Series F financing, pushing its valuation to approximately $1.5 billion. The round, made up of primary and secondary capital, included La Caisse, Fidelity Investments Canada, PICTON Investments, Endeavor Catalyst, Portage, Diagram, NAventures, National Bank of Canada, Fonds de solidarité FTQ, and Fondaction.

Founded in 2019, nesto says it is profitable and now manages more than $80 billion in mortgages under administration nationwide. The new funding will support faster partner and client onboarding while accelerating development of Nesto Cloud and Maestro AI, its platform for modernizing mortgage operations across Canada’s lending sector today.

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