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Canadian Tech in 100 Words

EY Survey Reveals Caution on Open Banking

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EY Canada’s latest Open Banking Survey, produced with Mastercard and TrueChoice Solutions, shows Canadians remain cautious as the country inches toward open banking adoption. Security and privacy remain primary concerns, with two-thirds of respondents citing protection from identity theft as essential.

Canadians want greater control over their financial data, including the ability to revoke access. They also prioritize simplicity and personalization—faster money movement and smarter bill payments top their wish lists. EY notes the need for robust regulations, technical standards, and broad participation for open banking to truly scale in Canada.

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

Startups Find Edge in Untapped Sectors

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In a recent analysis, product leader Sol Lee argues that startups are best positioned to succeed in emerging industries due to a lack of entrenched players and rapidly evolving needs. Unlike mature sectors with established tools and high switching costs, emerging markets offer a clean slate.

Lee highlights the creator economy as a prime example, where fragmented niches and inefficient workflows invite innovation. Her advice: focus on solving specific problems for well-defined user segments rather than chasing the entire market. Clarity, focus, and speed, she says, are key to shaping industries as they form.

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

Toronto Legal Tech Modernizes Real Estate

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Toronto-based Ownright has launched Canada’s first fully digital Status Certificate Review, modernizing a critical step in condominium transactions. The new platform replaces legal jargon with plain-language summaries across six categories, including property information, financial health, and legal status.

Available through a secure client portal, the tool offers transparency for buyers, realtors, and legal teams alike. CEO Robert Saunders said the innovation “opens the black box” of status certificates. With condos comprising over half of homes in cities like Toronto and Vancouver, Ownright’s platform streamlines an often opaque legal process in real estate.

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

Nextdoor Taps Canadian Innovation for Relaunch

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Nextdoor has unveiled its most significant platform redesign to date, with key innovations powered by Canadian technology. The social network for neighbourhoods has launched a new Alerts feature, developed in partnership with Edmonton-based Samdesk, to deliver real-time emergency updates.

The redesign, led from Toronto by Nextdoor Canada’s Christopher Doyle, includes Nextdoor News for hyperlocal journalism and new tools for small business advertising. The platform now serves nearly one in four Calgary households and continues to grow. With a focus on trust, relevance, and resilience, Nextdoor aims to strengthen communities in Canada and across 11 global markets.

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

Canadian Sleep Tech Firm Collapses Amid Tariff Troubles

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Toronto-based sleep tech company Smart Nora has filed for bankruptcy, citing poor market conditions, a funding gap, and tariff-related challenges. Founded in 2015 through Kickstarter, Smart Nora sold over 100,000 anti-snoring devices, earning $30 million in lifetime revenue. The July 11 filing lists over $4.3 million in liabilities—including loans from RBC, BDC, and Eastern Ontario CFDC—and just $40,474 in assets.

CEO Behrouz Hariri blamed volatile U.S. tariffs and delayed investments for the company’s collapse. Despite appearances on Dragons’ Den and efforts to launch a second-gen product, customer shipments stalled and the company ultimately ran out of capital.

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

Field Software Firm Scales Across Border

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Calgary-based Aimsio, a provider of field operations software, has incorporated as a U.S. C Corporation and established a regional headquarters in Houston, Texas. The move reflects Aimsio’s continued growth and aims to deepen relationships with U.S. customers and partners. CEO Ash Esmaeili described the expansion as a strategic milestone positioning Aimsio at the center of North America’s heavy industry.

Founded in 2013, the B2B SaaS firm helps industrial firms digitize dispatch, ticketing, timesheets, and invoicing. The Houston office will support business development, customer success, and partner engagement, while Calgary remains the company’s innovation hub.

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

B.C. Funds Innovation in Textile Recycling

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Vancouver-based Debrand has received over $300,000 from B.C.’s Plastics Action Fund to advance R&D into recycling plastic-based textiles. The grant supports Debrand’s development of automated sortation and material analysis tools aimed at diverting garments from landfills and integrating them into the circular economy.

Cofounded in 2008 by Amelia Eleiter and Wes Baker, Debrand serves major brands including Lululemon and Canada Goose. The company recently opened U.S. operations in Ohio and expanded its Surrey, B.C. facility. Backed by a 2022 investment from WM, Debrand is addressing a critical gap in textile waste infrastructure.

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

GeologicAI Raises $60M for Global Scale

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Calgary’s GeologicAI has secured $60 million in Series B funding to expand its AI-driven mineral exploration platform globally. Led by Blue Earth Capital, the round drew support from BHP Ventures, Rio Tinto, and Breakthrough Energy.

GeologicAI’s platform scans drill core using high-resolution sensors and machine learning to deliver real-time geological insights, improving discovery rates while reducing environmental impact. CEO Grant Sanden said the firm now operates on five continents and will use the capital to scale in key mining regions. The investment highlights mining’s shift toward digitization and sustainability amid growing demand for transition minerals.

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

Mangrove Expands as Lithium Risks Rise

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Vancouver’s Mangrove Lithium has announced a major expansion of its refining capabilities, aiming to produce 20,000 tonnes annually of battery-grade lithium—enough to power 500,000 electric vehicles. The move follows China’s proposal to ban lithium processing tech exports, intensifying global supply concerns.

Mangrove’s Delta-based facility, the first of its kind in North America, will integrate spodumene concentrate processing and bolster energy independence. Backed by $35 million in funding, the company has signed offtake MoUs with multiple U.S. battery gigafactories. Recognized by Foresight Canada and the Global Cleantech 100, Mangrove positions itself as a key player in securing domestic lithium supply.

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

BDC Expands $800M Loan Guarantee Program

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The Business Development Bank of Canada (BDC) has added RBC to its list of partner lenders for its Business Accelerator Loan Program, aimed at supporting underrepresented entrepreneurs. The program offers loans between $25,000 and $500,000 to businesses under $10 million in revenue and over one year old.

BDC guarantees up to 85% of the loan, with RBC determining rates up to prime plus five percent. The Crown corporation has pledged $800 million in loan guarantees and hopes to grow that number. BDC reports strong uptake from marginalized founders and aims to reverse Canada’s declining entrepreneurship rates.

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