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Canadian Tech in 100 Words

Vention Raises $110M for Automation Push

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Vention has raised US$110 million to scale its AI-powered automation and robotics platform, with backing from Investissement Québec, Desjardins Capital, Fidelity-managed funds in Canada, and NVentures. The financing accelerates Zero-Shot Automation, Vention’s approach promising deployment without integration and first-time-right operation, while funding expansion across Europe.

CEO Etienne Lacroix said manufacturers want intuitive, software-like automation as reshoring accelerates. Vention blends hardware, software, Physical AI, and cloud tools to cut timelines from months to days. Enterprise customers are standardizing on the platform across plants worldwide, at unprecedented global scale.

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

Float, Wise, Koho, Paramount, and Brim Join Payments Canada

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Payments Canada admitted five payment service providers—Wise, Float, KOHO, Paramount Commerce, and Brim—advancing fintech access ahead of the Real-Time Rail launch. Enabled by amendments to the Canadian Payments Act, registered PSPs can now join governance shaping national infrastructure. President and CEO Susan E. Hawkins said broader membership boosts competitiveness and innovation.

The additions span consumer finance, cross-border transfers, spend management, and account-based payments. Payments Canada clears over $411 billion daily across ACSS, Lynx, and forthcoming RTR. New members must meet Bank of Canada registration, security, and operational standards requirements today.

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

Toronto Tech Week Secures City Partnership

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Toronto Tech Week will return May 25–29, 2026, backed by a new multi-year partnership with the City of Toronto after a breakout inaugural year. In 2025, the community-led event drew more than 15,000 attendees, 500 speakers, and 315 events across 27 neighbourhoods. Mayor Olivia Chow said the agreement signals a long-term commitment to innovation, talent retention, and competitiveness.

Founding sponsors include the City, Shopify, and Google for Startups, with Bell, Osler, Hoskin and Ada supporting. Programming will span panels, demos, hackathons, open houses, and a Homecoming mainstage, citywide experiences planned.

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

Y Combinator Ends Direct Canadian Investment

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Y Combinator has stopped investing in startups incorporated in Canada, forcing accepted firms to reincorporate abroad, The Logic reported. Updated deal terms now limit eligibility to the United States, Cayman Islands, or Singapore, requiring structural flips for others. Canada disappeared from YC webpages in November 2025 after backing Canadian companies since 2008.

The accelerator invests US$500,000 for seven percent and draws major venture funds to demo day. Alumni include Vidyard, SRTX, and CoLab. None of winter 2026’s 99 companies list Canada headquarters. YC declined comment as applications close February 9, 2026.

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

BDO Canada Acquires GrantMatch

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BDO Canada has acquired GrantMatch, a government grant advisory firm, strengthening its national credits and incentives services. Founded in 1994, GrantMatch supports Fortune 500 companies, municipalities, nonprofits, and SMEs, serving over 1,000 clients in 2025. The firm works with 130 municipalities and specializes in manufacturing, aerospace, forestry, food processing, and cleantech incentives.

GrantMatch will join BDO Canada’s Credits and Incentives group, adding proprietary technology tracking 10,000 programs. Managing partner Rachel Gervais said the deal simplifies funding access. GrantMatch leader Mike Janke joins as tax partner. Nationwide integration begins immediately today.

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

Float Secures $100M to Expand Business Banking

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Toronto-based fintech Float has secured nearly $100 million in non-dilutive debt financing from Silicon Valley Bank, a First Citizens division, and a tier-one Canadian bank. The facilities will expand high-yield business accounts, raise base interest to three percent, and maintain rates up to four percent.

Float will also scale its Charge working capital product, unlocking $1.5 billion in annualized spending power. CEO Rob Khazzam said the funding injects capital into Canada as businesses face margin pressure and cautious borrowing. The platform now serves 6,000 organizations nationwide. Confidence lenders underscores momentum.

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

Compugen Taps AXL to Advance Applied AI

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Compugen, Canada’s largest privately owned technology solution provider, formed a strategic collaboration with Toronto venture studio AXL to accelerate applied artificial intelligence commercialization. The arrangement gives Compugen customers access to elite AI researchers, rapid prototyping, and a venture setting built to test viability before scale.

Compugen will channel customer and internal opportunities into AXL’s research to product pipeline, sometimes inviting clients to participate directly. President and chief executive Harry Zarek said the partnership explores operational challenges for value, while AXL chief executive Daniel Wigdor cited insight to validate solutions.

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Cyclic Materials Raises US$75M to Scale Recycling

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Cyclic Materials has closed an over-subscribed US$75 million Series C round, its largest financing to date, to expand rare earth recycling operations across the United States and Europe while growing research in Canada. The raise brings total equity funding to more than US$162 million and supports deployment of recycling infrastructure as an alternative to mining for materials used in AI, defence, and electric vehicles.

Cyclic recovers rare earths from end-of-life magnets using a two-stage process that cuts emissions and water use. CEO Ahmad Ghahreman said recycling is the fastest path to secure Western supply, particularly for scarce heavy rare earths dominated by China.

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

Deck Calls National Bank Lawsuit Frivolous, Seeks Dismissal

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Montréal startup Deck is asking a Québec court to dismiss a lawsuit filed by its former employer, National Bank of Canada, calling the action “frivolous, abusive, and destined to fail.” The suit, brought by National Bank and its subsidiary Flinks, alleges Deck co-founders Yves-Gabriel Leboeuf and Frédérick Lavoie breached a non-compete agreement.

Deck argues it does not compete with Flinks, instead offering AI agents that retrieve password-protected data on users’ behalf. The founders are seeking dismissal of the claim and $60,000 plus legal fees. The allegations have not yet been tested in court.

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

General Fusion to Go Public in US$1B Deal

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General Fusion has agreed to go public via a merger with a U.S. special purpose acquisition company, valuing the fusion developer at US$1 billion. The Richmond, British Columbia company will combine with Dallas-based Spring Valley Acquisition Corp. III and plans to trade on the Nasdaq after closing.

The deal includes roughly US$105 million in PIPE financing and up to US$230 million from Spring Valley’s trust. After recent funding challenges, General Fusion says the transaction advances its goal of delivering commercially viable fusion power and bringing energy to the grid. Want to know more? Check out the source code here.

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