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Canadian Tech in 100 Words

 

Mosaic Manufacturing Secures $28M for 3D Printer Expansion

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Mosaic Manufacturing, a Toronto-based 3D printer company, secured $28 million CAD in growth financing, led by Idealist Capital. Previous investor Freycinet Ventures participated, alongside undisclosed private family offices. Idealist’s François Boudreault joins the board with Mosaic co-founders Mitch Debora, Derek Vogt, and Chris Labelle.

Founded in 2014, Mosaic has raised $10 million USD previously, from investors including Techstars and Real Ventures. Mosaic’s latest innovation, the Array, automates 3D printing for factories, addressing supply chain disruptions. CEO Mitch Debora emphasized the importance of scaling amid growing demand.

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

Federal Government Invests $66.5M to Slash Cement Industry Emissions

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The federal government is providing $66.5 million in funding to help reduce emissions from cement and concrete production. Through the Strategic Innovation Fund (SIF), Ottawa is awarding $49 million to Heidelberg Materials for a carbon capture, utilization, and storage (CCUS) system at its Edmonton cement plant, which aims to sequester one megatonne of CO₂ annually by 2026.

Giatec Scientific, an Ottawa-based firm, will receive $17.5 million to develop software that optimizes concrete production, cutting waste and emissions. This initiative supports Canada’s goal of net-zero emissions in the concrete industry by 2050.

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

ApplyBoard Secures $100M to Expand Global Reach

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Kitchener-Waterloo’s ApplyBoard has secured a $100 million credit facility from RBCx to accelerate growth and expand beyond English-speaking countries. CEO Meti Basiri announced that the funds will support international student mobility to 20 new destinations by 2030.

The EdTech company, founded in 2015, already serves over 1,500 post-secondary institutions. The funding may also fuel future mergers, but research and development are priorities. ApplyBoard’s expansion comes amid declining student visa approvals in Canada. “Opportunities exist in these challenges,” said Basiri.

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

Loop Raises $6.4M to Expand International Finance Platform

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Toronto-based fintech Loop has announced a $6.4 million funding round, raising its total to over $10 million. Founded in 2015 as a financing provider, Loop pivoted in 2022 to simplify international finance for small- and medium-sized businesses (SMBs). Loop’s platform addresses cross-border payments, currency exchange, and treasury management, areas where SMBs are often underserved by traditional banks.

The funding, led by Luge Capital and other venture partners, will fuel Loop’s international expansion and product development. CEO Cato Pastoll emphasized the company’s mission to help businesses grow globally by reducing financial barriers.

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

Amazon Mandates Full In-Office Workweek Starting January 2025

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Amazon CEO Andy Jassy announced that corporate employees must return to the office five days a week starting January 2, 2025, in all but extenuating circumstances. For the past 15 months, Amazon required employees to work in-office at least three days a week, a move Jassy said has strengthened collaboration and company culture.

The policy shift also includes a reduction in middle management, with teams expected to increase the ratio of individual contributors to managers by 15% by the end of Q1 2025. The decision aligns with a broader trend in Canada, where many employers are mandating office returns.

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

Salesforce Introduces Slack Innovations for AI-Driven Collaboration

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Salesforce has unveiled new Slack innovations aimed at transforming how organizations work by integrating data, AI, and collaboration into a unified system. The updates include Agentforce in Slack, a new user interface that allows teams to engage with AI agents, access insights, and perform tasks. Third-party AI agents from partners like Adobe and Cohere can also be integrated.

Salesforce channels will now connect CRM records with Slack conversations to improve collaboration. Additional features include enhanced AI-powered search, automation tools, and pre-designed templates to increase productivity across departments. Salesforce reports these innovations boost team productivity by 47%.

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Canada Launches Public Consultations on First AI Strategy for Government

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The Honourable Anita Anand, President of the Treasury Board, has launched public consultations on Canada’s first artificial intelligence (AI) strategy for the federal public service. The consultations, announced at the Symposium on Digital Trust and Cyber Security, aim to gather feedback on how AI should be used in government operations.

Earlier consultations with experts, civil society, and Indigenous communities emphasized the need for a human-centered, secure, and collaborative AI strategy. Once finalized, the strategy will guide responsible AI adoption in the federal public service to enhance productivity, science, and service delivery for Canadians.

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

Salesforce Ventures Expands AI Investments to $1 Billion

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Salesforce Ventures has announced a new $500 million AI fund, doubling its total commitment to AI innovation to $1 billion over the past 18 months. The fund aims to support high-growth companies and visionary founders driving advancements in artificial intelligence.

Salesforce Ventures has invested in over two dozen AI companies, including Anthropic, Cohere, and Hugging Face. The new fund will build on existing partnerships, providing capital, industry expertise, and access to Salesforce’s ethical and responsible AI resources. The goal is to help startups scale AI solutions while balancing growth and trust.

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

Wheaton Precious Metals Launches $1M Future of Mining Challenge

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Vancouver-based Wheaton Precious Metals has launched the inaugural Future of Mining Challenge, offering USD $1 million to a winning venture for advancing mining technology. The initiative focuses on reducing environmental impacts, improving mining efficiencies, and contributing to climate solutions.

Wheaton’s President and CEO, Randy Smallwood, emphasized the importance of fostering innovation to make mining practices more sustainable. The challenge, supported by Foresight Canada, invites cleantech companies to submit solutions aimed at reducing greenhouse gas emissions in mining operations. Applications open on September 18, 2024, with the winner announced in March 2025.

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

Ballard Restructures as Hydrogen Infrastructure Progress Slows

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Burnaby’s Ballard Power Systems has announced a global restructuring plan to cut costs due to delays in hydrogen infrastructure development and slower fuel cell adoption. The plan involves workforce reductions, consolidating operations, and cutting capital expenses, though product deliveries and customer commitments are expected to remain unaffected.

Ballard CEO Randy MacEwen stated that the restructuring will save over 30% in annual operating expenses, with significant savings realized by 2025. Earlier this year, Ballard secured its largest order to date, supplying 1,000 hydrogen fuel cell engines to Solaris Bus & Coach for the European transit market.

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