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Canadian Tech in 100 Words

Cyclic Materials Extends Series B with $2M Investment

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Toronto-based Cyclic Materials, specializing in recycling rare earth elements, has secured an additional $2M from InMotion Ventures, Jaguar Land Rover’s investment arm, bringing its Series B funding to $55M.

Cyclic’s proprietary technologies, MagCycle and REEPure, create a circular supply chain for critical minerals, reducing CO₂ emissions and dependency on new mining. Rare earth elements are vital for EVs, wind turbines, and electronics, yet less than 1% are recycled.

CEO Ahmad Ghahreman emphasized expanding operations across North America and Europe, backed by partners like Microsoft, Hitachi, and BMWi. Total funding now exceeds US$80M.

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

Shopify’s Finkelstein Champions Canadian Entrepreneurship

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Montréal’s tech ecosystem gathered at HEC Montréal for the first edition of North Star, an event series organized by Amiral Ventures, Brightspark Ventures, and student groups. The event featured panels of student founders, seasoned CEOs, and a fireside chat with Shopify President Harley Finkelstein.

Speakers emphasized themes of passion, resilience, and balancing obsession with mental health. Student founders highlighted challenges in pivoting from research to business, while Finkelstein championed building global companies in Canada despite structural barriers.

The evening also unveiled the Montréal Startup Guide, a resource for the city’s startup community, aiming to foster collaboration and growth.

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

Human in Motion Shines at CES with XoMotion Exoskeleton

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Vancouver-based robotics firm Human in Motion (HMR) showcased its XoMotion exoskeleton at the 2025 Consumer Electronics Show (CES), earning a CES Innovations Award. XoMotion, the world’s most advanced medical exoskeleton, offers hands-free, self-balancing support to mimic natural human movement, aiding individuals with mobility impairments caused by spinal cord injuries, strokes, and other neurological conditions.

HMR co-founder and CEO Siamak Arzanpour highlighted the device’s dual benefits for patients and therapists. Backed by $10M raised in 2023 and Health Canada approval, XoMotion is already in use at Queen’s Park Care Centre in New Westminster.

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

Canadian Startups Drive Clean Energy Innovation in 2025

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Canada’s clean energy startups are advancing global climate solutions with groundbreaking technologies in carbon capture, renewable energy, and sustainable materials.

Vancouver’s Daanaa revolutionizes solar efficiency, while Deep Sky leads in carbon removal with direct air capture projects. Calgary-based Carbonova and CarboMat focus on reducing emissions through innovative material use. Meanwhile, pH7 Technologies pioneers eco-friendly metal extraction, and VulcanX Energy advances low-emission hydrogen production.

Additional leaders include VoltSafe, enhancing energy safety, and Anodyne Chemistries, converting CO₂ into specialty chemicals. With strong support from investors and government grants, these startups are shaping a sustainable future.

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

AstraZeneca Invests $820M to Expand Canadian Operations

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British pharmaceutical giant AstraZeneca is investing $820 million to expand its operations in the Greater Toronto Area, creating over 700 high-value jobs. The Ontario government is supporting the move with a $16.1-million grant through Invest Ontario, aiming to strengthen the province’s life sciences sector.

The new facility will enhance AstraZeneca’s capabilities in oncology, immunology, and infectious diseases using AI and digital health technologies. CEO Pascal Soriot highlighted Canada’s potential as a global life sciences hub, citing its talent pool and world-class research network.

AstraZeneca has created 1,200 jobs and invested $1.3 billion in Canada since 2023.

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

NEO Battery Materials to Build Silicon Anode Plant in Windsor

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NEO Battery Materials has signed a lease for 8 acres at Windsor Airport, marking a key step in establishing Canada’s first advanced silicon anode manufacturing facility. The $120M investment will create 100 skilled jobs and produce 5,000 tons of silicon anodes annually, supporting Canada’s battery supply chain.

The agreement includes a 49-year lease with tax incentives, highlighting Windsor’s commitment to fostering innovation. Backed by a Community Improvement Plan grant, NEO’s facility aims to reduce reliance on imports while advancing clean technology.

CEO Spencer Huh called the deal a transformative milestone for Ontario’s growing battery ecosystem.

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

Stripe Lays Off 300 Employees, Emails Include Cartoon Duck

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Stripe, the payment processing giant, laid off 300 employees—about 3.5% of its global workforce—during its annual review process. The layoffs, reducing Stripe’s staff to roughly 8,200, were marred by email errors, including incorrect termination dates and an image of a yellow cartoon duck.

Chief People Officer Rob McIntosh apologized for the mishap, confirming corrected notifications were sent. The layoffs follow Stripe’s 14% workforce reduction in 2022 but come as the company plans to grow to 10,000 employees by year’s end. The incident highlights ongoing challenges in tech workforce management.

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

Xanadu Advances Quantum Networking with Aurora System

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Toronto-based Xanadu has unveiled Aurora, a breakthrough quantum computing system that networks 35 photonic chips and 13 km of fiber optics across four server racks. CEO Christian Weedbrook calls it a “baby data centre,” marking the first scalable quantum network that retains critical data.

Published in Nature, the advance uses photonics to minimize data loss and maintain quantum entanglement, solving a key barrier to scaling quantum systems. Backed by US$241M from investors and $40M from Canada’s Strategic Innovation Fund, Xanadu aims to build a full-scale quantum data center by 2029.

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

Novacap Raises $1B for Digital Infrastructure Fund

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Montreal-based private equity firm Novacap has raised over USD $1 billion USD for its first fund dedicated entirely to digital infrastructure. Backed by institutional investors, family offices, and high-net-worth individuals globally, the fund exceeded its original $750-million USD target.

The fund aims to invest up to $100 million in 10 regional companies offering connectivity and data access services. Novacap CEO Pascal Tremblay attributes demand to AI-driven growth.

Initial investments include INdigital, All West Communications, Communications Tower Group, and H5 Data Centers. Founded in 1981, Novacap manages over $10 billion CAD in assets.

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

Amazon Shuts Quebec Warehouses, Lays Off 1,700 Workers

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Amazon is closing all Quebec warehouses, laying off 1,700 regular employees and 250 seasonal workers. Operations will cease at seven sites, including a fulfillment center, sorting centers, and delivery stations, within two months.

Spokesperson Barbara Agrait denied unionization at Laval’s DXT4 warehouse influenced the decision, citing a return to Amazon’s third-party delivery model used until 2020. Employees will receive severance packages, job placement support, and up to 14 weeks of pay.

Many employees expressed shock and frustration, claiming the closures were abrupt and union-related. The layoffs leave workers like single mother Bobbie-Jo Vaughan facing uncertain futures.

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