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Canadian Tech in 100 Words

Zolve to Launch in Canada, Expanding Immigrant Banking Services

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Zolve, a neobank specializing in financial services for skilled immigrants, is set to launch in Canada this summer as part of its global expansion. The move follows a $251 million funding round, comprising $51 million in equity and $200 million in debt.

Founded in 2021, Zolve addresses the credit access gap faced by newcomers lacking local credit history, enabling them to secure credit cards, loans, and banking services upon arrival. With 750,000 customers and $1.2 billion in transactions, the startup is expanding beyond the U.S. market into Canada, the U.K., and Australia.

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

Novarc Secures $50M to Advance AI-Driven Welding Tech

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North Vancouver-based Novarc Technologies has secured $50 million in Series B funding to advance its AI-driven robotic welding solutions. Export Development Canada (EDC) led the round, with participation from Graham Partners, Seaspan, and InBC Investment Corp. Novarc’s NovAI™ system leverages machine vision, deep neural networks, and real-time adjustments to improve welding automation.

Unlike traditional robotic systems, NovAI eliminates prescanning and reprogramming, streamlining production. CEO Soroush Karimzadeh emphasized investor confidence in Novarc’s mission to revolutionize welding automation. The company plans to launch NovAI Autonomy commercially in Summer 2025.

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

General Fusion Hits Key Milestone with Lawson Machine 26

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Burnaby-based General Fusion has achieved a major milestone in its Magnetized Target Fusion (MTF) technology, successfully forming a magnetized plasma inside its Lawson Machine 26 (LM26). The company now aims to compress these plasmas using a lithium liner to generate fusion, progressing toward commercial zero-carbon fusion energy.

LM26, built in just 16 months, is targeting temperatures of 10 million and 100 million degrees Celsius, with the ultimate goal of achieving scientific breakeven. Founder Dr. Michel Laberge highlighted the company’s extensive research, saying, “We’re ready to make some fusion happen in LM26!”

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

Canada Growth Fund Invests $58M in Smart EV Charging Firm dcbel

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The Canada Growth Fund (CGF) has invested $58 million in dcbel, a Montreal-based company developing bidirectional EV charging and home energy management solutions. The funding, part of an $80 million round with Idealist Climate Impact Fund LP and others, will support dcbel’s expansion in North America and Europe while maintaining its Canadian headquarters and intellectual property.

dcbel’s Ara home energy system integrates solar storage, EV charging, and AI-powered energy optimization to cut costs and boost resilience. CGF has now invested $2.3 billion in Canadian cleantech, backing firms driving sustainable energy innovation.

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

Canada’s EV Charging Network Grows 24% Year-Over-Year

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Despite challenges in the EV sector, Canada’s public charging network expanded significantly, growing 24.2% year-over-year, according to Natural Resources Canada (NRCan). Between March 2024 and March 2025, 6,586 new public charging ports were added across 1,559 new stations, bringing the national total to 33,767 ports across 12,955 locations.

Level 2 chargers increased 23.4%, while DC fast chargers saw a 27.8% boost. The expansion provides much-needed infrastructure as EV adoption continues, offering more convenient charging options for Canadian drivers despite industry uncertainty.

Want to know more? Check out the source code on Electric Autonomy Canada.

Canadian Firm Partners to Prevent Millions of Bird Deaths

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Each year, up to 42 million birds die in Canada from collisions with glass buildings, particularly during migration. Austrian company BirdShades has developed a UV-active window film that is invisible to humans but visible to birds, dramatically reducing strikes.

Now, Guelph-based Tekton Performance Films is bringing this innovation to North America. CEO Frank Cavallo, personally affected by bird strikes at home, partnered with BirdShades to distribute the product across the region. The solution aligns with sustainability efforts while preserving architectural aesthetics, offering a significant advancement in wildlife conservation and modern design.

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

SXSW Pitch 2025: Calgary’s Knead Tech, Toronto’s Xatoms Among Winning Startups

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Calgary-based Knead Technologies won the AgTech & Food category at the 2025 SXSW Pitch competition in Austin, Texas. The startup, which connects food waste with food reuse, was recognized for its innovative approach to tackling global food insecurity.

Knead Tech was among 45 startups competing across nine categories at the 17th annual event, which featured solutions leveraging AI, machine learning, and automation. Other winners included Toronto’s Xatoms, which uses quantum chemistry and AI for water purification. The SXSW Pitch competition continues to highlight breakthrough startups addressing real-world challenges.

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

Y Combinator’s Canadian Startups: Growth or Brain Drain?

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A new graph from Bram Sugarman highlights Canadian-headquartered companies in Y Combinator (YC) by batch, revealing fluctuations in enrollment. During the pandemic, YC’s remote format likely boosted Canadian participation, though the data excludes companies with Canadian founders. When those are counted, the Winter 2024 cohort triples to 12 startups.

YC CEO Garry Tan acknowledged the trend, stating that Canadian startups raising funds and staying in San Francisco post-demo day become unicorns 2.5X more often. A recent YC dinner also revealed many Canadian founders opting to relocate permanently. The question remains: is Canada losing its top startups to Silicon Valley?

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

Vancouver Startup Pocketed Acquired by Deloitte Canada

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Deloitte Canada has acquired Vancouver-based Pocketed, an AI-driven platform that helps businesses secure funding. The acquisition enhances Deloitte’s grant and SR&ED services while expanding Pocketed’s reach. Pocketed’s technology streamlines funding by matching businesses with relevant grants and incentives.

The platform will now integrate into Deloitte’s Gi3 practice to offer AI-powered funding solutions. Co-founders Brianna Blaney and Aria Hahn, along with their team, will join Deloitte Canada. CEO Anthony Viel emphasized Deloitte’s commitment to fostering Canada’s innovation ecosystem. Pocketed, now “Pocketed, a Deloitte business,” is poised to scale its impact across industries.

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

From Boom to Bust: The Story of NBA Top Shot’s NFT Platform

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NBA Top Shot, an NFT platform developed by Dapper Labs, experienced a meteoric rise and subsequent decline since its 2020 launch. The platform allowed users to buy, sell, and trade officially licensed NBA highlight clips, known as “Moments,” on the blockchain. During the COVID-19 pandemic, some Moments sold for over $200,000, introducing many to digital collectibles.

However, by mid-2021, user engagement declined, and Moment values plummeted due to technical issues and market oversaturation. Dapper Labs’ expansion into NFL All Day strained resources, leading to financial challenges. Despite internal and external setbacks, the company continues to adapt within the evolving NFT landscape. ​

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