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Canadian Tech in 100 Words

BDC Capital Recapitalizes Growth Funds with $950M

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BDC Capital is recapitalizing its growth equity investment programs with $950 million, aiming to support Canadian later-stage startups facing economic uncertainty. The investment includes $500M for its Growth Venture Fund and $450M for Growth Equity Partners, both with a five-year investment timeline.

BDC, Canada’s largest venture capital investor, has backed 66 companies across these funds since 2016. The move comes as private investment retracts, impacting tech firms’ growth and valuations. BDC’s VC portfolio was valued at $2.98 billion as of Sept. 30, despite recent losses. Experts emphasize BDC’s role in ensuring continued capital access for Canadian innovators.

Want to know more? Check out the source code on the Globe and Mail.

Toronto’s Cohere Takes a Pragmatic Approach to AI Growth

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Toronto-based Cohere is taking a focused approach to AI, prioritizing business applications over consumer chatbots. The company’s North platform is being developed for industries such as banking (RBC) and telecom (STC Group), with plans to expand into healthcare and government.

Unlike rivals OpenAI and Anthropic, Cohere builds smaller, industry-specific models, prioritizing privacy and security. The firm is also Canada’s AI anchor tenant, securing $240M in federal funding for a new data center with CoreWeave. Amid U.S. AI dominance, Cohere’s CEO remains optimistic, stating, “We’re building the best tech—and we’re going to keep doing that.”

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

Calgary Lands Lufthansa Technik, Strengthening Aerospace Sector

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Lufthansa Technik (LHT) has selected Calgary International Airport as its Western Canada headquarters, reinforcing the city’s status as an aerospace innovation hub. The global leader in aircraft maintenance and repair will create 120 high-skilled jobs and train 80 professionals within four years.

The new Test Cell Facility, supported by $2.5 million from the Opportunity Calgary Investment Fund, will focus on sustainable aviation fuels and next-generation engine technology. Calgary Economic Development and Mayor Jyoti Gondek praised the investment, which follows WestJet’s expansion and the city’s NATO DIANA test hub designation, solidifying Calgary’s aerospace leadership.

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

Clio Funds $3M Space for Entrepreneurs at UBC Sauder

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Vancouver-based legaltech firm Clio has pledged $3 million to UBC Sauder School of Business, supporting entrepreneurship and innovation. The donation—one of the largest for UBC Sauder’s Powerhouse Project—will fund a dedicated collaboration space for students, faculty, and industry leaders. It will also house CDL-Vancouver, an accelerator for science and tech startups.

Clio CEO Jack Newton highlighted the initiative’s role in fostering game-changing ideas, while Co-founder Rian Gauvreau emphasized its impact on BC’s startup ecosystem. Dean Darren Dahl praised Clio’s commitment, calling it a transformational investment in business education.

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

RBC Introduces Mobile Mortgage Renewals

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RBC is modernizing its mortgage renewal process, allowing eligible clients to renew through the RBC Mobile app in minutes. Previously, renewals required an Advisor, but growing demand for digital banking spurred the shift. RBC’s mobile user base has surged 69% since before the pandemic, with app sessions up 139%, according to SVP Rami Thabet.

The bank also launched an online mortgage application tracking platform. Janet Boyle, RBC’s SVP of Home Equity Finance, emphasized the move’s goal of reducing stress and increasing transparency. This shift aligns with broader Big Bank fintech adoption, as RBC competes with digital-first firms.

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

Cohere Faces Copyright Lawsuit from Major Publishers

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A coalition of 14 major media companies, including Toronto Star, Vox Media, and Condé Nast, has filed a copyright lawsuit against Cohere, accusing it of unauthorized use of their content to train its AI models. Filed in New York, the suit alleges massive copyright and trademark infringement and seeks damages plus an order stopping Cohere from using their work.

The filing claims Cohere’s chat tool reproduces entire articles and even fabricates content attributed to publishers. Cohere denies wrongdoing, calling the lawsuit “misguided” and defending its enterprise AI training practices. The case follows similar lawsuits against OpenAI and Anthropic.

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

TD Bank Completes Historic Cloud Migration

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TD Bank has completed a three-year cloud migration, transferring petabytes of data from legacy systems to Microsoft’s Azure cloud in one of the largest banking migrations ever. The move enhances AI capabilities, streamlines data processing, and enables faster customer insights.

The initiative, spanning 20+ business lines, involved 700 security controls and over 15 patent filings. TD’s FinOps team ensures cost efficiency in the cloud, while new AI-powered tools improve marketing, customer service, and cybersecurity. With 1,000 legacy servers decommissioned, TD now processes millions of transactions daily, positioning itself for AI-driven financial innovation.

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

Vention Unveils Turnkey Robotic Sanding System

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Montreal-based Vention has launched the Rapid Sanding Solution (RSS), a turnkey robotic sanding system designed for cabinetmaking and other industries. The system features a FANUC CRX-30iA cobot, a PushCorp sanding tool, and 3M collaboration to enhance automation.

The RSS fits into standard 120V outlets, accommodates panels from 6.5 x 7.7 in. to 36 x 90 in., and can sand up to 8 panels at once. Quebec-based Fabridor reports 31% efficiency gains using Vention’s robotic sanding. With 4,000 facilities already using Vention’s automation tools, the company continues expanding its cloud-based MachineBuilder platform for custom solutions.

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

Canada Invests $30M in BC Green Shipping Projects

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The Canadian government is committing $30 million to decarbonize BC’s marine sector, advancing green shipping initiatives along the coastline. Transport Minister Anita Anand announced the funding under the Green Shipping Corridor Program, supporting shore power infrastructure to reduce emissions.

The Greater Victoria Harbour Authority will receive $22M to install shore power at Ogden Point, creating a green cruise corridor. The Vancouver Fraser Port Authority gets $7M for Canada Place cruise terminal upgrades, while Seaspan Ferries secures $6M for shore power at four terminals. Officials highlight economic, environmental, and public health benefits.

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

Shopify Reports Strong Growth, Faces Investor Skepticism

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Shopify reported US$2.81 billion in fourth-quarter revenue, up 31.2% year-over-year, surpassing analyst expectations. Merchants sold US$94.5 billion in products, with transaction-based services driving US$2.15 billion in revenue. The company posted an operating profit of US$585 million but warned that 2025 growth would slow.

Its U.S. market contributed 64.3% of revenue, raising concerns amid trade war risks. Investors reacted negatively to Shopify’s cautious forecasts. Meanwhile, Shopify removed Kanye West’s store for selling a Nazi-themed T-shirt, calling it a fraudulent stunt. The company plans to keep its workforce stable in 2025 after prior job cuts.

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