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Canadian Tech in 100 Words

 

ChopValue Secures $4M to Innovate Supply Chain with Circular Solutions Tech

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Global circular product solutions manufacturer ChopValue this week announced a $4 million investment from InBC Investment, a fund created by the Province of British Columbia aimed at driving financial returns alongside positive impact. The government capital builds on private fundraising from last year.

ChopValue will leverage InBC’s investment to make strategic key hires on their Business Development and Design teams, according to statement from the firm, as well as accelerate the development and implementation of their solutions to solidify a leadership position within Canada’s circular manufacturing sector. Founded in 2016, ChopValue’s urban harvesting approach has diverted over 170 million chopsticks from the landfill.

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

Uni-one Raises $10M to Expand Food Supply Chain Tech Throughout North America

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A Vancouver-born startup innovating food supply chains with a technology-based platform has raised financing to expand its offering across North America. Uni-one’s online app, powered by a proprietary intelligence system, offers a one-stop shop to browse products, place orders, and track trends for restaurants, grocers, and wholesalers alike.

The company has secured $10 million in a Series A round from Celtic House Asia Partners, Red River Investments, Banyan Pacific Capital, and others, which values the company at $60 million. Uni-one was founded in 2017; today the rapidly growing company services 15,000 annual deliveries, working with notable chains such as H-Mart, T&T Supermarket, and Loblaws.

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

Bank of Canada to Regulate Non-Bank Payment Services, Registration Begins Nov. 1

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Starting November 1, non-bank businesses offering payment services in Canada must register with the Bank of Canada under a new regulatory regime aimed at protecting consumers. The Bank estimates the regime will apply to around 3,000 companies, including fintechs and other firms involved in online payments.

The move follows global trends in countries like the U.S. and U.K. to regulate non-bank payment providers. However, determining which businesses need to register is complex, with exemptions for incidental activities and internal transactions. Firms that miss the deadline but act quickly may avoid penalties, according to Bank of Canada officials.

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

Four Canadian Startups Successfully Complete Six-Month SportsTech Accelerator

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This year 10 companies from around the world secured their spot in the 2024 Class of the Comcast NBCUniversal SportsTech Accelerator, and the chosen 10—selected from over 1,500 applicants across more than 50 countries—included a remarkable four Canadian picks: two from B.C., one from Alberta, and one from Ontario.

The four firms representing the North—StellarAlgo, Plantiga, Fobi, and Mobii Systems—have all established partnerships or pilots with major brands such as Premier League and Compact Spectator through connections developed during the accelerator program, which wraps up this week at Rally Innovation in Indianapolis.

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

Vault Launches Latest Fintech Feature Targeting Payments for Businesses

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A digital financial platform for Canadian businesses this week released an automated vendor payment functionality. Toronto’s Vault says the new functionality is designed to increase payment accuracy with enhanced accounting software integrations and is set to “transform how businesses manage their payable processes [by] offering a true 2-way sync.”

Businesses can now manage and pay hundreds of bills simultaneously, reducing the time spent processing payments. To further enhance financial control, Vault provides multi-level payment approval workflows, the company says, which ensures all payments comply with internal processes prior to funds being sent to different vendors.

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

Shift4 Payments Set to Acquire Toronto’s Givex for $200M in All-Cash Transaction

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Givex is being acquired by Shift4 Payments. Shift4 has agreed to acquire all issued and outstanding shares of Givex in an all-cash deal. Shareholders of Givex will receive $1.50 in cash per share, implying an aggregate equity value for the fintech of approximately $200 million.

“The Givex Team looks forward to joining the Shift4 family and bring our enterprise gift card capabilities and loyalty programs to hundreds of thousands of new customers,” stated CEO Don Gray. “By combining Shift4’s end-to-end payment solution with our value-added engagement services, we can deliver an unparalleled package to both of our customer bases.”

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

b-line Launches AI Assistant to Revolutionize Property Management

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Halifax-based b-line has unveiled its groundbreaking AI Assistant, designed to transform property management through advanced AI and machine learning. This tool integrates into the b-line platform, offering real-time occupancy insights, predictive analytics, and data-driven decision-making. The AI Assistant optimizes building efficiency, reduces costs, and enhances tenant experience by integrating with existing systems like HVAC and access controls.

Deployed at Ottawa’s Brookstreet Hotel, the AI Assistant has shown significant improvements in operational efficiency and security. b-line’s innovation underscores its commitment to advancing smart building technology across North America.

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

Toronto Animation Innovator Lands US$19M from a16z to Forge ‘Next Phase of Growth’

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Toronto-born Viggle AI, a startup innovating character animation through generative artificial intelligence, announced a Series A capital raise of US$19 million. The round was led by Andreessen Horowitz with participation from Two Small Fish and “will enable Viggle AI to continue to scale, accelerate product development, expand its team, and solidify its position as a leader in controllable video generation and AI animation.”

Viggle’s proprietary JST-1 technology is the first video-3D foundation model that’s built with a genuine understanding of physics, according to the company, enabling the creation of realistic character movements. The startup says it’s entering “a time of explosive growth.”

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

Leasey, Zillow Join Forces to Make Property Management in Canada Simpler Than Ever

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Vancouver-based property management technology startup Leasey.AI announced an integration with Seattle’s Zillow. A new Zillow Direct Syndication capability enables property managers to post rental listings to Leasey’s Rental Network, which now includes Zillow’s network of rental marketplaces, with a click from their dashboard.

The feature streamlines the listing process for managers, helping ensure units reach a large audience, according to a statement. Working “in harmony with Leasey.AI’s suite of leasing support tools,” the Zillow Direct Syndication integration is designed to automate the leasing process, which can reduce the effort required to create listings, as well as increase lead conversion and improve the tenant experience.

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

Montréal’s ALL IN Going All In for Second Annual A.I. Gathering Next Month

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The second edition of ALL IN, an event dedicated to Canadian artificial intelligence, will take place in Montréal in September. ALL IN 2024 is expected to welcome over 3,000 folks from across business, tech, and AI—an attendance figure doubling last year’s inaugural showing—representing everything from startups and big companies to government and investors.

“We’re thrilled to expand the event’s scope with a greater emphasis on global engagement, attracting some of the biggest names in AI,” stated Isabelle Turcotte, Executive Director of ALL IN. “Our lineup is impressive, and we can’t wait to welcome attendees from across the globe to Canada for this major event.”

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