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Canadian Tech in 100 Words

Rare Earth Recycling Centre Coming to Ontario

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Toronto-based cleantech firm Cyclic Materials will invest $34 million to open North America’s first Centre of Excellence for rare earth recycling in Kingston, Ontario. Scheduled for early 2026, the 140,000-square-foot facility will combine full-scale commercial processing and advanced R&D.

The site will produce recycled rare earth oxide from 500 tonnes of magnet-rich feedstock annually using Cyclic’s proprietary REEPure℠ technology. CEO Ahmad Ghahreman says the centre will anchor the company’s commercial future. The project is expected to create 45 skilled jobs and is backed by partnerships with Solvay, Glencore, and several national innovation programs.

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

Calgary Tech Valued at $6.7B in 2025 Report

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Calgary has been named an “Emerging Ecosystem to Watch” in Startup Genome’s 2025 Global Startup Ecosystem Report. The city’s startup ecosystem is now valued at $6.7 billion, up 13% since 2023. Calgary ranks among North America’s Top 30 ecosystems and the Top 50 globally, recognized for affordability and return on investment.

With strong support from Calgary Economic Development, Platform Calgary, and the University of Calgary, the city has become a resilient tech hub. Its Innovation Strategy aims to create 187,000 jobs and contribute $28 billion to the economy by 2034.

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

BC Tech Unveils 2025 TIAs Finalists

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BC Tech has named 43 finalists across 10 categories for its 2025 Technology Impact Awards, recognizing excellence in British Columbia’s tech sector. A new category—Gamechanger: Deal of the Year—honours five major transactions that brought $3 billion in investment to the province.

“We’re building globally competitive anchor companies,” said BC Tech CEO Jill Tipping. Tech now contributes 8% of B.C.’s GDP and jobs. The Company of the Year – Startup finalists will pitch at Dragon’s Den Pitch Night, presented by Electronic Arts. Winners across all categories will be announced at the TIAs gala on October 23 at Parq Vancouver.

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

Snap’s Next Specs to Launch in 2026

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Snap Inc. has announced it will launch a new generation of lightweight, immersive Specs in 2026, revealed at the Augmented World Expo 2025. The wearable glasses integrate Snap’s AR Lenses with advanced machine learning and AI capabilities, delivering real-time digital assistance, gaming, and productivity tools.

Snap CEO Evan Spiegel described the Specs as “the most advanced personal computer in the world.” The updated Snap OS supports speech recognition, 3D object generation, and spatial mapping. Developers worldwide—including those in Canada—can now join the Spectacles Developer Program and begin building next-gen AR experiences ahead of public release.

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

Wealthsimple Expands to Challenge Traditional Banks

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Wealthsimple has unveiled a suite of new financial products, including its first credit card, an instant line of credit, and expanded chequing account features, reinforcing its ambition to become Canada’s full-service digital banking alternative.

CEO Michael Katchen emphasized a shift away from traditional banking, citing client frustration with hidden fees and outdated experiences. The new card offers 2% cash back and no FX fees, while the line of credit—launching later this year—will offer low, asset-backed rates. Enhanced chequing features include 2.75% interest, 1% cash back, and fraud protection. Wealthsimple continues to build toward a future without bank branches.

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

Eli Health Raises $17M to Launch Hormone Test

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Montréal-based Eli Health has raised $17 million in Series A financing to bring its saliva-based hormone-monitoring product to market. The round was led by BDC Capital’s Thrive Venture Fund and includes support from Accelia Capital, TELUS Global Ventures, and other global investors.

Founded in 2019, Eli’s platform tracks cortisol and progesterone levels using a patented FDA-registered Hormometer and app. CEO Marina Pavlovic Rivas says the capital will accelerate manufacturing and expand hormone detection. With $28 million raised to date, Eli claims this is the largest women’s health tech round in Canadian history.

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

Edmonton Startup Scales Predictive Tech for QSRs

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Scription, an Edmonton-founded startup optimizing maintenance for fast-food kitchens, has raised USD $7.85 million in seed funding to expand its predictive technology. The company, co-founded by Justin Villiers, reduces costly downtime and boosts profit margins for franchise operators and service providers.

Clients include McDonald’s, KFC, and Taco Bell locations across the U.S., with its first Canadian deal now secured. Scription automates preventive maintenance, which offers higher margins than reactive fixes. New CEO Gerritt Graham will lead expansion from Atlanta, where business development is centered. The raise follows a USD $2.5 million pre-seed round in 2023.

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

TD Launches Proprietary AI to Personalize Banking

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TD Bank Group has unveiled TD AI Prism, a proprietary foundation model developed in-house to enhance personalization and predictive analytics. The AI system consolidates siloed analytics into a single predictive engine, capable of processing up to 100 times more data points to anticipate customer behavior.

Built on TD’s secure cloud infrastructure, the platform ensures data privacy while enabling real-time marketing and product personalization. TD AI Prism marks a major milestone for the bank’s AI research arm, Layer 6, and is part of the broader TD Invent innovation initiative. Initial deployment for marketing communications is expected later this year.

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

Finofo Raises $3.3M to Fuel Fintech Growth

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Calgary-based fintech Finofo has closed a $3.3 million oversubscribed seed round to expand its global finance operations platform. Founded by Alberta finance veterans Prateek Sodhi and Charles Maranda, Finofo streamlines international payments for mid-market firms, reducing FX costs and enhancing financial security.

Investors include Watertower Ventures, Motivate Venture Capital, and local backers from its $1.7M pre-seed round. Now serving 180+ North American companies, the platform automates payments, offers multi-currency control, and real-time audit trails. CEO Sodhi says Finofo’s lean, sustainable approach reflects Alberta values. The raise highlights Calgary’s rise as a fintech hub ahead of the G7 Summit.

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

Pine Hits $1B Milestone, Launches Pine Homes

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Toronto-based fintech Pine has surpassed $1 billion in mortgages under administration and unveiled Pine Homes, a new product suite integrating real estate search, financing, and insurance.

The expansion follows Pine’s 2023 acquisition of Properly and brings the entire homeownership process into one digital experience. Since its 2021 founding by Justin Herlick and Jonathan Shih, Pine has approved over $3 billion in mortgage applications for 55,000+ families. Backed by $50 million in funding, Pine uses AI to shorten purchase times and reduce costs. CEO Herlick said the goal is to simplify real estate for Canadians.

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