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Canadian Tech in 100 Words

Cohere Seeks Dismissal of Publisher Lawsuit

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Toronto-based AI company Cohere is asking a U.S. court to dismiss a copyright lawsuit filed by major publishers including the Toronto Star, Vox Media, and Condé Nast. The media firms accuse Cohere of systematic copyright and trademark infringement, citing outputs from its AI that allegedly reproduce news articles verbatim.

In its defense, Cohere claims plaintiffs manipulated prompts to generate misleading results and “gin up” a legal case. Filed in the Southern District of New York, the case adds to growing legal scrutiny of generative AI. Cohere denies wrongdoing and seeks full dismissal.

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

Lightspeed Stock Dips on $556M Writedown

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Shares of Lightspeed Commerce fell 8% Thursday after the Montreal fintech disclosed a US$556-million goodwill writedown. The non-cash charge reflects a decline in the company’s market value relative to its net assets as of March 31. CEO Dax Dasilva, who resumed leadership last year, is attempting to revive the stock through cost controls and a renewed focus on profitability.

However, weak U.S. consumer confidence and broader tech valuation declines have hampered progress. Lightspeed posted US$253.4 million in Q4 revenue, up 10% year-over-year, but cut its 2025 revenue forecast in March. Dasilva now aims to return to growth in 2026.

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

Alberta Cleantech Leaders Honoured at Inventures

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Foresight Canada honoured Alberta’s top clean technology innovators last night at the Alberta Cleantech Awards during Inventures 2025 in Calgary. Winners included Ayrton Energy (Startup), Nanoprecise (Scaleup), Dow (Adopter), CRIN (Supporter), and Emissions Reduction Alberta (Funder).

Each exemplifies Alberta’s shift from industrial legacy to sustainable leadership. Dow’s $6.5B Path2Zero hydrogen project and ERA’s strategic $55M in funding reflect large-scale commitment to emissions reduction. CRIN’s support for late-stage tech commercialization and Ayrton’s hydrogen storage innovation underline ecosystem strength. “You represent Alberta’s future-proof economy,” said Foresight CEO Jeanette Jackson.

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

Toronto Startup Grows to 4M Users in 2 Years

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Toronto-based Collectr, launched in 2022, has swiftly emerged as a leading mobile platform for collectors, supporting over 25 trading card games including Pokémon and Magic: The Gathering. Co-founded by veterans of fintech exit Doorr, the company has reached over 4 million users and eight-figure annual revenue—all bootstrapped.

Its app, boasting 2 million daily opens, offers AI-powered scanning, real-time pricing, and crypto valuation. Collectr also operates the largest ad network in the collectibles space. With Steve Aoki recently joining the team, Collectr continues to blend fintech, culture, and data to redefine how users manage and profit from their collections.

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

Wealthsimple Picks Tetra as First Canadian Custodian

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Wealthsimple has named Calgary-based Tetra Trust as its first Canadian digital asset custodian. Wealthsimple, which began offering crypto in 2020 and now supports nearly 100 tokens, praised Tetra’s regulatory approach and domestic infrastructure. “Tetra Trust has a solid track record,” said Blair Wiley, Chief Legal Officer at Wealthsimple.

Tetra, founded in 2019, holds digital assets in cold storage using institutional-grade protection. CEO Didier Lavallée called the move “a significant milestone.” Wealthsimple continues expanding its product lineup and profitability, recently acquiring San Francisco’s Plenty. The partnership signals a deepening of Canada’s financial infrastructure for regulated crypto custody.

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

Google Funds $5M AI Education Push in Canada

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Google Canada is investing $5 million through Google.org to support AI education nationwide. The grant will fund a consortium led by Edmonton-based Amii, uniting 25 Canadian post-secondary institutions to create AI curriculum resources. The goal is to reach 125,000 students across colleges, universities, and Indigenous institutes.

Amii CEO Cam Linke called the initiative a chance to turn Canada’s AI research strengths into widespread literacy. While Canada leads in AI research, adoption lags. A Google report estimates AI could add $230B to the economy and save workers 175 hours annually.

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

Angus Reid Returns in Landmark Market Merger

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Rival Group and Angus Reid Group (ARG) are merging to form Canada’s largest Canadian-owned independent market research company. The $60M enterprise will span six cities across North America, combining ARG, Rival Technologies, and Reach3 Insights under one umbrella. Dr. Angus Reid, returning to commercial research, joins the board.

Co-CEOs Jennifer and Andrew Reid will oversee consulting and tech, respectively, emphasizing integrated services and AI-powered tools. The Vancouver-based group now serves over 500 clients and plans international expansion with a London office. No layoffs are expected in the consolidation.

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

Canadian Cleantechs Unite to Cut Plastic Waste

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Nova Scotia’s Sustane Technologies and Quebec’s Pyrovac Inc. have formed a long-term strategic alliance to scale plastic recycling using Canadian cleantech. The $7-million deal includes a two-reactor upgrade at Sustane’s Chester facility and grants Sustane exclusive rights to Pyrovac’s plastic-processing technology.

This marks Pyrovac’s first commercial deployment of its advanced reactor system, developed over 30 years. Sustane CEO Peter Vinall called the partnership “a foundation for global expansion.” Pyrovac founder Christian Roy said the alliance aligns technological vision with operational scale. The agreement positions both firms at the forefront of Canada’s circular economy ambitions.

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

Avalon Launches First Commercial Holographic Display

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Avalon Holographics has launched NOVAC, the world’s first commercially available, true holographic tabletop display. Unlike stereoscopic systems, NOVAC delivers real-time 3D visuals viewable by multiple users—no headsets required. Built for high-stakes decision-making, NOVAC is already used in defense planning and is compatible with AI, digital twins, and Nvidia’s Omniverse.

Avalon has secured $65M in funding and holds 61 patents. The company is now raising $50M more to develop modular OLED-based panels. These future displays could transform industries from aerospace to retail by enabling immersive collaboration through wall-sized, true holographic visuals.

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

Toronto Fintech Keep Debuts With $108M Funding

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Toronto-based fintech Keep has emerged from stealth with $108 million in backing to reshape small business banking in Canada. Founded in 2022 by Oliver Takach, Keep offers a unified platform combining no-fee global banking, automated expenses, and rewards-based credit cards.

The startup secured $33 million in equity from Tribe Capital, a $71 million credit facility from Coventure, and $4 million in venture debt from Silicon Valley Bank. With $20 million in annualized revenue in 2024, Keep aims to support 100,000 businesses by 2027. Takach says the platform solves long-standing inefficiencies in Canadian banking.

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