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Canadian Tech in 100 Words

Reaction Dynamics Thinks Bigger With Borealis

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Quebec’s Reaction Dynamics has unveiled Borealis, a medium-lift rocket designed to carry six tonnes into low Earth orbit, with a first launch targeted for 2031.

The Longueuil company plans to raise $350 million in additional private investment and expand its workforce from 68 to more than 350 employees by 2031.

Borealis will build on technology developed for Aurora, its smaller rocket targeting an initial orbital flight from Canadian soil in late 2028.

The roadmap includes approximately 375,000 square feet of manufacturing and integration capacity in Quebec, underscoring the investment needed to establish Canadian launch capabilities for commercial and government customers.

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

UniUni’s Public Listing Deal Collapses

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Richmond-based delivery company UniUni’s planned public listing has collapsed after MAK Acquisition terminated their merger agreement. The transaction would have valued the combined business at more than US$1 billion.

MAK said UniUni exceeded the agreement’s maximum cumulative pretax loss, leaving a breach it could not remedy within the allotted period.

UniUni had previously announced plans for a private funding round led by an existing investor to support North American growth and strengthen its financial position.

The setback leaves the logistics company seeking another route to public markets as it prepares for peak delivery season and works to finance continued expansion.

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

Fibra Brings Health Tracking to Underwear

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Toronto’s Fibra has launched smart underwear designed to track reproductive health during everyday wear. The washable garment combines sensors for vaginal pH, discharge patterns, skin temperature, heart rate, and heart rate variability with a detachable electronics module and mobile platform.

Founded by biomedical engineer Parnian Majd, Fibra says development included more than five million data points and 500,000 minutes of wear. The company has raised approximately US$1.7 million.

Its platform aims to turn changing biological patterns into personalized insights while reducing manual tracking. Fibra describes the product as a reproductive-wellness tool, not a replacement for medical care or diagnostic testing.

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

Tenstorrent Raises US$1.5 Billion

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Canadian-founded AI chipmaker Tenstorrent has raised US$1.5 billion in Series E funding at a US$6.2 billion valuation. Led by Trace Capital and Innovation X, the round will support Galaxy server manufacturing, next-generation hardware development, and hiring.

Founded in Toronto and now headquartered in California, Tenstorrent is challenging established AI chipmakers with an architecture supported by open-source software. Toronto remains its largest office, employing 200 of its 1,000 staff, while some components are manufactured in Markham.

The financing highlights the global ambitions of Canadian-founded semiconductor companies and the substantial capital required to compete in the rapidly expanding market for AI computing.

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

Inovia Reloads for AI Startups

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Montréal’s Inovia Capital has secured US$200 million in the first close of its sixth early-stage venture fund, moving toward a US$325 million target. Backers include BDC, La Caisse, CIBC, Fondaction, Fonds de solidarité FTQ, Investissement Québec, and Teralys Capital.

Fund VI will target AI-native startups and frontier technologies spanning cybersecurity, infrastructure, energy, computing, robotics, and quantum. Inovia expects to make 15 to 20 core investments in companies from seed through Series A across North America and Europe.

The firm hopes to reach its fundraising target by early 2027, adding capital for founders navigating a challenging environment for venture-backed technology businesses.

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

PlanBase Builds for Canadian Advisors

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Ottawa startup PlanBase is building financial-planning software specifically for Canadian advisors, combining a domestic planning engine with an AI assistant called Finn.

The bootstrapped platform helps import client documents, populate plans, identify gaps, explore scenarios, and draft reports. Advisors retain final approval. Its Canadian focus includes bilingual functionality, provincial probate differences, and distinct Quebec and Canada Pension Plan considerations.

Co-founders Alex Bernier and Charlie Gracie bring financial-planning and software-engineering experience to the business. Operating through advisor subscriptions, PlanBase aims to reduce preparation work across retirement, estate, insurance, and pension planning, giving professionals more time for analysis and conversations with clients.

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

Shopify’s CTO Steps Aside

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Shopify chief technology officer Mikhail Parakhin is leaving the role after just over two years and transitioning to an advisory position, the company confirmed to BetaKit.

The former Microsoft executive joined Shopify in 2024, bringing experience in artificial intelligence and machine learning. During his tenure, the Ottawa-based commerce company expanded AI tools for merchants and deployed the technology internally to accelerate development and improve efficiency.

Shopify has not disclosed the timing or reason for his departure, or named a successor. The leadership change comes as AI becomes increasingly central to how the company builds products and supports merchants across markets.

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

Calgary Startup Gives Robots Depth

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Calgary startup Vision3x is developing camera-based, AI-powered 3D sensing for drones and other autonomous systems, targeting applications in agriculture and defence.

Founder and CEO Uzma Ahmed Din developed an early prototype during her electrical and software engineering PhD at the University of Calgary. The company has received support through university entrepreneurship programs and Innovate Calgary.

Vision3x says its technology can capture up to 95% of a scene in one pass, at one-tenth the cost and half the weight of LiDAR, without GPS. The startup is continuing development and testing in challenging conditions, including extreme weather, as it works toward commercialization.

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

Blue J Joins Legora’s Workspace

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Toronto-based Blue J is bringing its AI tax research into Legora, allowing eligible customers to investigate tax questions without leaving their legal workspace. Answers will include inline citations linking to underlying sources.

Built using the Model Context Protocol, the integration keeps research processing on Blue J’s infrastructure. Customers must subscribe to both platforms, use their own accounts, and hold the necessary permissions to access source material.

Early access will begin with selected joint customers, with general availability planned for November. The partnership expands Legora’s integration ecosystem while giving Canadian-developed specialist tax technology another distribution channel within the legal AI market.

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

Rozvelt Raises for Defence Expansion

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Montréal hardware startup Rozvelt has raised $3.1 million in seed funding to expand from hunting equipment into products for military, law-enforcement, and first-responder customers.

Its Vektr headgear was designed to filter odour from exhaled breath, helping hunters conceal their scent. Interest from defence buyers prompted the company to explore equipment that also filters inhaled particles for protection in hazardous environments.

Angel investors led by Evovest partner Benoit Robert backed the round. Rozvelt plans to begin Canadian production of its consumer product this fall while developing new applications, illustrating how civilian hardware can attract international interest across the growing defence market.

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