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Canadian Tech in 100 Words

Modular Solutions Raises Top-Tier Insurtech Seed Round

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Calgary-based insurtech Modular Solutions has secured a significant seed round led by Tailwind Ventures, joined by Clear North Capital and other private investors. The raise ranks among the top five seed-stage financings for North American insurtechs since 2023, with the second-highest pre-money valuation in the sector.

Formerly known as Nude Solutions, Modular offers configurable insurance software to replace outdated legacy systems. Funds will enhance AI capabilities, onboarding, and platform upgrades. CEO Braden Bosch remains majority shareholder and aims to scale without compromising affordability. Tailwind and Clear North emphasized the company’s strong trajectory and strategic local backing.

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

Tech Training Program Returns for Canadian Veterans

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The Roland Gossage Foundation has relaunched its Soldiers in Tech program to help Canadian veterans and military families transition into technology careers. Now in its fifth year, the program is delivered in partnership with Lighthouse Labs and offers flexible 12-week or 30-week courses in web development, cybersecurity, and data analytics.

With over 461,000 veterans in Canada—many of working age—the initiative combines technical training, career services, and wellness support to bridge military service and civilian employment. The program is backed by Employment Ontario and both federal and provincial governments. Upcoming cohorts begin in July and August.

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

Circle K Launches Digital Fleet Card with Fillip

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Calgary-based fintech Fillip and Digital Commerce Bank (DCBank) have partnered with Circle K to launch Circle K Pro DIGITAL+, a digital fleet card program designed to modernize fuel management for Canadian businesses. Issued by DCBank and powered by Visa, the platform enables instant issuance of digital fuel cards, real-time tracking, and customizable controls.

Businesses also receive exclusive fuel discounts nationwide. The initiative tackles inefficiencies in traditional fleet payment systems and enhances transparency. Fillip CEO Alice Reimer emphasized the program’s potential to boost efficiency, while Circle K’s Stéphane Trudel highlighted its ability to simplify day-to-day fleet operations.

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

Carbon Upcycling Raises $26.6M to Clean Cement

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Calgary-based Carbon Upcycling has secured $26.6 million to scale its carbon capture and utilization (CCU) technology aimed at reducing emissions in the cement industry. The round was led by Builders Vision, with backing from BDC, Climate Investment, Amplify Capital, CRH Ventures, Oxy Low Carbon Ventures, and TITAN Group.

Carbon Upcycling converts industrial CO₂ and low-value materials into sustainable cement additives. Its SCPs reduce carbon output and reinforce local supply chains. Recent milestones include a CCU project at Ash Grove’s Mississauga plant and a partnership with TITAN Group for international expansion.

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

Zūm Rails, Western Union Launch Real-Time Transfers

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Montreal-based fintech Zūm Rails has partnered with Western Union to offer real-time international money transfers through Canada’s Interac eTransfer system. The integration of Zūm Rails’ API into Western Union’s Canadian platform allows customers to fund global remittances instantly, reaching over 200 countries.

With 88% of Canadians using eTransfer and moving $338 billion in the past year, demand for faster payment options is rising. Zūm Rails CEO Miles Schwartz highlighted the importance of fintech partnerships in modernizing legacy systems. Western Union’s Ranjit Sarai praised the move as a leap toward seamless global money movement.

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

Canadians Use AI More Than They Think

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A TD and Ipsos survey reveals a paradox: while 87% of Canadians feel comfortable using technology, only 3% rate their AI skills highly. Yet 72% passed a basic AI knowledge test, suggesting greater competence than confidence.

Younger Canadians feel more familiar with AI, but Gen X and Millennials scored higher in technical knowledge. Still, trust remains low—only 43% trust AI versus 81% who trust banks. TD is tackling this gap through its Trustworthy AI framework and Layer 6 R&D center, aiming to make AI secure, understandable, and beneficial for customers.

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

Canadian Fintech Giftbit Now Operates in 130+ Countries

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Canadian-founded fintech Giftbit has expanded globally, now supporting payouts in 25 currencies across 130+ countries. Backed by a commitment to transparency, the platform simplifies digital rewards with flexible, low-cost options like prepaid cards, gift cards, and crypto. CEO Leif Baradoy attributes growth to businesses’ rising need for global, seamless, and scalable financial infrastructure.

Giftbit’s latest innovations include a frictionless digital wallet card, a user-friendly rewards dashboard, and multi-currency support. As digital adoption accelerates, Giftbit aims to reshape global payouts by turning complexity into clarity and cost into opportunity.

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

Photonic to Invest $49M in UK Quantum Facility

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Vancouver-based Photonic is investing over $49 million to establish a new quantum R&D facility in the United Kingdom, marking a significant step in its global expansion strategy. The site will create more than 30 technical jobs and enhance collaboration between Canada and the UK in secure quantum technologies.

Core operations will remain in Canada, but the UK investment will boost market access and innovation. Canadian and British officials hailed the move as a milestone for transatlantic cooperation in advanced computing. Photonic is backed by BCI, Inovia Capital, Amadeus, and the UK’s NSSIF.

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

New Venture Studio Tackles AI Brain Drain

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AXL, a new Canadian venture studio, has launched with a $15 million CAD fund to build 50 AI startups over five years, addressing Canada’s innovation-to-commercialization gap. Co-founded by Daniel Wigdor—former Meta Toronto leader and Chatham Labs founder—AXL aims to retain Canadian talent and IP.

Supported by notable investors and academic leaders, AXL’s model links University of Toronto research with corporate partners like Dillon Consulting. The studio handles prototyping to go-to-market operations, aligning AI breakthroughs with industry needs. Wigdor envisions Canada as a global AI leader, where ideas scale at home, not abroad.

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

ChatGPT’s Power Use Not So Shocking After All

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Initial reports claimed ChatGPT consumed ten times more energy per query than a Google search, sparking concern over AI’s climate impact. The figure, traced to 2023 data scientist Alex de Vries, estimated 3 watt-hours per ChatGPT question versus Google’s 0.3 watt-hours, last reported in 2009. However, recent figures suggest parity.

OpenAI CEO Sam Altman confirms newer ChatGPT models now use approximately 0.3 watt-hours per query, the same as Google’s old benchmark. With no updated Google figures, critics say the comparison is outdated. As AI evolves rapidly, energy claims must be reexamined.

Want to know more? Check out the source code at ZME Science.