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Canadian Tech in 100 Words

Intel Study Shows Canadian Firms Racing Toward AI Computing

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Canada’s persistent productivity problem may have found a turning point as a new Intel-commissioned study shows businesses rapidly shifting toward AI-powered computing. Of 150 surveyed Canadian decision-makers, 85 percent are upgrading or planning to upgrade to AI PCs, while 3 percent already rely on them exclusively.

Respondents overwhelmingly expect output gains, citing performance, operational efficiency, and cost savings. But barriers remain, including upfront expenses, security concerns, and a significant AI skills gap. With Windows 10 support ending, analysts say modernization is unavoidable. Researchers believe AI PCs could help close Canada’s long-standing productivity gap and reshape digital-era workplace performance.

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

Vistara Growth Raises US$450M Fund to Back Tech Firms

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Vancouver-based Vistara Growth has closed its fifth structured-capital fund at US$450 million (C$700 million), marking a decade of flexible financing for technology companies across North America. The new fund, a 66% increase from Fund IV, reflects investor confidence in non-dilutive growth capital.

Founded by Randy Garg, Vistara bridges the gap between bank debt and venture equity, offering tailored debt and convertible financing for B2B software and tech-enabled service firms. Fund V has already backed eight companies, including Clariti Cloud and Kore.ai. Since inception, Vistara has made 42 investments and 23 exits—all without a single loss.

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

CoLab Raises $72M USD to Lead AI-Driven Engineering Revolution

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St. John’s-based CoLab has secured $72 million USD in Series C funding led by Intrepid Growth Partners, reaffirming its leadership in artificial intelligence for engineering collaboration. Existing investors Insight Partners, Y Combinator, Pelorus VC, Killick Capital, and Spider Capital also participated, with Insight increasing its position.

CoLab’s EngineeringOS platform is used by Ford, Lockheed Martin, and Schneider Electric to streamline design reviews and improve decision-making. Since unveiling its AI peer-checker AutoReview in June, the company has added over 47,000 engineers to its waitlist and is on pace to triple revenue in 2025.

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

Clio Completes US$1B vLex Acquisition, Hits US$5B Valuation

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Vancouver’s Clio has finalized its US$1 billion acquisition of vLex, marking one of the largest transactions in legal technology history. The deal coincides with Clio’s US$500 million Series G round led by NEA, valuing the company at US$5 billion, alongside a US$350 million debt facility.

Together, they establish Clio as an AI-first leader uniting legal business and practice through its new Intelligent Legal Work Platform, integrating vLex’s global data and Vincent AI. “This is a defining moment for Clio and the legal industry,” said CEO Jack Newton. The milestone expands Clio’s reach into enterprise legal services worldwide.

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

Canadian Science at the Heart of Nike’s Comeback

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Nike’s latest sneaker innovation has roots in Canada. The concept behind its new performance shoe line began over 20 years ago at the University of Calgary, where researcher Matthew Nurse studied how foot sensations influence athletic movement.

Now leading the Nike Sport Research Lab, Nurse and a team of Canadian scientists are driving the company’s renewed focus on innovation under returning CEO Elliott Hill. After years of slowing growth, Nike is betting on research-led design to reclaim its market dominance. Recent launches—from AI-informed sneakers to calming footwear—mark a science-fueled reset for the sportswear giant.

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

Toronto’s OneVest Modernizes Wealth Tech with Modular Design

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Toronto-based fintech company OneVest has unveiled a refreshed brand identity following its $27-million Series B financing earlier this year from investors including Salesforce Ventures and Luge Capital. The firm’s modular wealth management platform enables banks, RIAs, and asset managers to deploy customizable, no-code digital solutions.

“We’re scaling to meet demand as legacy vendors struggle to modernize,” said CEO Amar Ahluwalia. OneVest’s unified tools—One View, One Flow, and One Hub—create a seamless client-advisor experience. Its new slogan, Tomorrow’s Technology, Today’s Wealth, reflects the company’s mission to unify data and workflows for financial institutions worldwide.

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

1Password Tops $400M Revenue, Eyes AI-Driven Future

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Toronto-based cybersecurity company 1Password has surpassed $400 million USD in annual recurring revenue, up from $250 million last year, while remaining free cash flow-positive. CEO David Faugno said the company is profitable and “could be public today,” though it will wait for greater predictability in the AI market before pursuing an IPO.

The 1,400-person firm serves 180,000 businesses, including nearly one-third of the Fortune 100. Recent leadership hires include president Michael Hughes and chief business officer John Torrey. Founded in 2005, 1Password continues expanding its AI-driven access management platform as it moves toward $1 billion in annual revenue.

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

Clutch Appoints Former BMO Executive Tom Flynn to Board

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Toronto-based Clutch, Canada’s leading online used car retailer, has appointed former BMO Financial Group executive Tom Flynn to its Board of Directors. Flynn brings over 25 years of financial leadership experience, including serving as BMO’s Chief Financial Officer and Chief Risk Officer, and currently sits on TELUS Corporation’s board.

“Tom’s appointment marks a significant milestone for Clutch,” said CEO Dan Park. “His governance experience will help accelerate our national expansion.” Flynn, who holds degrees from Western University’s Ivey School of Business, said he looks forward to supporting Clutch’s continued growth in Canada’s digital automotive marketplace.

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Canada’s $1-Trillion “Investment Budget” Targets Tech and Security

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Ottawa’s 2025 federal budget, the first under Prime Minister Mark Carney, promises over $1 trillion in investments over five years while projecting a $78.3-billion deficit. Finance Minister François-Philippe Champagne called it an “investment budget” to strengthen Canada’s economic sovereignty.

Key commitments include $17.9 billion for defence, $1.26 billion for AI and quantum research, and $1.75 billion for venture capital. The budget also expands SR&ED tax credits, renews Elevate IP, and introduces “Buy Canadian” procurement rules. Critics warn high deficits risk future taxes, while innovators hail major gains for tech competitiveness and domestic intellectual property.

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

Foresight Canada Names 2025 Cleantech 50 in Calgary

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Foresight Canada, the country’s largest cleantech accelerator, unveiled its 2025 Foresight 50 list in Calgary last night, recognizing 50 of Canada’s most investible cleantech ventures. All honourees are first-time recipients—an unprecedented milestone reflecting the depth of Canada’s innovation pipeline.

Since 2021, past Foresight 50 companies have raised more than $2.6 billion in capital. The ventures featured this year are tackling industrial decarbonization, carbon capture, waste-to-value systems, and climate resilience. With the global clean energy market projected to triple to $2 trillion by 2035, these firms are positioning Canada to lead the global energy transition and economic diversification.

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