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Canadian Tech in 100 Words

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.

Trump Orders U.S. to Create Strategic Bitcoin Reserve

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U.S. President Donald Trump has signed an executive order establishing a Strategic Bitcoin Reserve and a Digital Asset Stockpile, funded initially by cryptocurrency seized in criminal cases. White House AI and crypto czar David Sacks confirmed the Bitcoin reserve would act as a “digital Fort Knox,” with no plans to sell its holdings.

The Treasury Department will oversee the stockpile of other digital assets. Trump’s order also mandates a full audit of government-owned crypto. While Trump suggested the reserve includes XRP, Solana, and Cardano, records show no such holdings. The U.S. currently holds $18.28 billion in cryptocurrency.

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

DMZ Backs Women-Led Startups with $535K Investment

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Calgary-based Cashew secured $190,000 in funding at DMZ’s Women Innovation Summit, making it the top-funded startup at the event. The AI-driven market research platform received $150,000 from DMZ Ventures and $40,000 from The Firehood.

In total, $535,000 was invested across four women-led startups, including Migranium, Edie Farming, and Metronome. The summit, now in its third year, expanded funding opportunities through DMZ Ventures’ first-time participation. Bobbie Racette of Virtual Gurus was named one of DMZ’s 2025 Women of the Year. The event underscored the impact of women-led startups on innovation and economic growth.

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

Toronto Startup Pays $100/Hour to Train AI Security Guard

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Toronto-based ArcadianAI is reshaping security with Ranger, the world’s first AI security guard. Unlike traditional systems, Ranger sees, analyzes, and responds to threats in real-time, reducing false positives and streamlining incident detection. To refine its capabilities, ArcadianAI is paying security professionals $100 per hour to train the AI by analyzing footage and providing feedback.

Industries such as airport security and private schools are already participating. CEO Marie Roohi emphasizes accessibility, stating, “Security should be a right, not a privilege.” With Ranger, ArcadianAI aims to provide affordable, intelligent security to businesses worldwide.

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

Thinkific Reports Narrowed Losses, Positive Cash Flow in 2024

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Vancouver-based Thinkific significantly narrowed its losses in 2024, reporting a net loss of $200,000, down from $9.8 million the previous year. The online course platform achieved positive cash flow, increasing to $7 million from a $5.4 million loss in 2023.

Revenue from Thinkific’s commerce segment surged 73% in Q4, while Thinkific Plus grew 27%. CEO Greg Smith called 2024 a “pivotal year” as the company shifted to growth investments. However, CFO Corinne Hua warned of challenges in expanding gross merchandise value, which remained flat at $114.7 million. Thinkific continues to compete against Absorb and Coursera.

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

1Password Introduces Location-Based Access for Logins

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Toronto’s 1Password has introduced a new feature that allows users to associate passwords with specific physical locations. The Nearby section on the app’s home tab will now display relevant logins based on a user’s proximity to saved locations. Users can add locations while on-site or via a map view.

The feature helps reduce clutter by prioritizing frequently used credentials, such as health cards at clinics or travel documents at airports. AgileBits assures that location data is stored locally and never shared. Users can disable the feature at any time for added security.

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

Former Allocadia Co-founder Unveils New Venture, SIX

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Kristine Steuart, former CEO of Allocadia, has launched SIX with Co-CEO T.J. Begley to revolutionize customer engagement. Backed by $1.3 million in pre-seed funding from Inovia Capital, Panache Ventures, and angel investors, SIX moves beyond traditional, increasingly ineffective marketing channels like email and digital ads.

The platform empowers frontline teams to create personalized, one-on-one customer connections at scale. With an experienced leadership team, including Katherine Berry and Mike Squance, SIX is already delivering results for early adopters. The company aims to reshape customer experience through tailored interactions rather than mass communication.

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

Autonomous Oil Spill Tech Gains Global Interest

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Toronto-based Clean Oil International has successfully tested its AI-driven, solar-powered vessel for oil spill cleanup in Vancouver. The autonomous platform, founded by Babak Khodaparast, processes spills five times faster than conventional methods, cutting costs by 50%.

Built from recyclable materials and using patented nano-filter technology, it reduces oil contamination to just 3 ppm. The vessel also supports fire suppression, hazardous waste collection, and military applications. With growing global interest from Saudi Arabia, Qatar, and the UAE, Clean Oil’s award-winning technology aligns with major decarbonization efforts worldwide.

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