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Canadian Tech in 100 Words

NordSpace Lands $20-Million Defence Deal

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Markham-based NordSpace has signed a 10-year, $20-million agreement giving Canada’s Department of National Defence priority access to its Atlantic Spaceport Complex in Newfoundland and Labrador.

The facility, under construction in St. Lawrence, is intended to support Canada’s domestic launch capabilities. NordSpace says the contract covers minimum facility and systems maintenance costs, with individual missions and launches excluded.

The company has entered a second construction phase and continues targeting orbital launches by 2028.

The agreement gives Canadian defence planners a foothold in domestic launch infrastructure as NordSpace develops its rockets, satellites, and spaceport to reduce dependence on foreign providers for launches.

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

KORT Adds AptPay to Payments Platform

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KORT Payments has agreed to acquire Toronto’s AptPay, expanding its services beyond card acceptance into account-to-account payments and business disbursements.

AptPay provides a single integration for moving money through payment networks including Interac e-Transfer, Mastercard Send, Visa, and electronic funds transfers.

The combination will broaden KORT’s product offering and support its expansion across North America, including the United States.

AptPay will operate as a KORT division led by chief executive Shams Syed. The deal brings together Canadian payment-processing and payout capabilities as businesses seek simpler ways to accept funds, move money, and manage transactions through fewer technology providers and integrations.

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

Reaction Dynamics Thinks Bigger With Borealis

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Quebec’s Reaction Dynamics has unveiled Borealis, a medium-lift rocket designed to carry six tonnes into low Earth orbit, with a first launch targeted for 2031.

The Longueuil company plans to raise $350 million in additional private investment and expand its workforce from 68 to more than 350 employees by 2031.

Borealis will build on technology developed for Aurora, its smaller rocket targeting an initial orbital flight from Canadian soil in late 2028.

The roadmap includes approximately 375,000 square feet of manufacturing and integration capacity in Quebec, underscoring the investment needed to establish Canadian launch capabilities for commercial and government customers.

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

PataBid Raises $2 Million for Construction AI

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Calgary’s PataBid has raised $2 million in pre-seed funding to expand its AI-powered construction estimating software. Graphite Ventures led the round, joined by Sprout Fund, Bluesky Equities, Inverted Ventures, and angel investors.

Founded by Melvin Newman, PataBid helps contractors turn construction drawings into priced estimates through its Quantify platform, combining material identification, supplier pricing, and ordering.

The company says more than 200 contractors use Quantify, with over $2 billion in bids processed.

Funding will support product development, partnerships, and North American expansion. PataBid is also developing Newton, a conversational AI estimating agent, with a commercial launch planned for next year.

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

UniUni’s Public Listing Deal Collapses

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Richmond-based delivery company UniUni’s planned public listing has collapsed after MAK Acquisition terminated their merger agreement. The transaction would have valued the combined business at more than US$1 billion.

MAK said UniUni exceeded the agreement’s maximum cumulative pretax loss, leaving a breach it could not remedy within the allotted period.

UniUni had previously announced plans for a private funding round led by an existing investor to support North American growth and strengthen its financial position.

The setback leaves the logistics company seeking another route to public markets as it prepares for peak delivery season and works to finance continued expansion.

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

Fibra Brings Health Tracking to Underwear

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Toronto’s Fibra has launched smart underwear designed to track reproductive health during everyday wear. The washable garment combines sensors for vaginal pH, discharge patterns, skin temperature, heart rate, and heart rate variability with a detachable electronics module and mobile platform.

Founded by biomedical engineer Parnian Majd, Fibra says development included more than five million data points and 500,000 minutes of wear. The company has raised approximately US$1.7 million.

Its platform aims to turn changing biological patterns into personalized insights while reducing manual tracking. Fibra describes the product as a reproductive-wellness tool, not a replacement for medical care or diagnostic testing.

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

Tenstorrent Raises US$1.5 Billion

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Canadian-founded AI chipmaker Tenstorrent has raised US$1.5 billion in Series E funding at a US$6.2 billion valuation. Led by Trace Capital and Innovation X, the round will support Galaxy server manufacturing, next-generation hardware development, and hiring.

Founded in Toronto and now headquartered in California, Tenstorrent is challenging established AI chipmakers with an architecture supported by open-source software. Toronto remains its largest office, employing 200 of its 1,000 staff, while some components are manufactured in Markham.

The financing highlights the global ambitions of Canadian-founded semiconductor companies and the substantial capital required to compete in the rapidly expanding market for AI computing.

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

Inovia Reloads for AI Startups

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Montréal’s Inovia Capital has secured US$200 million in the first close of its sixth early-stage venture fund, moving toward a US$325 million target. Backers include BDC, La Caisse, CIBC, Fondaction, Fonds de solidarité FTQ, Investissement Québec, and Teralys Capital.

Fund VI will target AI-native startups and frontier technologies spanning cybersecurity, infrastructure, energy, computing, robotics, and quantum. Inovia expects to make 15 to 20 core investments in companies from seed through Series A across North America and Europe.

The firm hopes to reach its fundraising target by early 2027, adding capital for founders navigating a challenging environment for venture-backed technology businesses.

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

PlanBase Builds for Canadian Advisors

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Ottawa startup PlanBase is building financial-planning software specifically for Canadian advisors, combining a domestic planning engine with an AI assistant called Finn.

The bootstrapped platform helps import client documents, populate plans, identify gaps, explore scenarios, and draft reports. Advisors retain final approval. Its Canadian focus includes bilingual functionality, provincial probate differences, and distinct Quebec and Canada Pension Plan considerations.

Co-founders Alex Bernier and Charlie Gracie bring financial-planning and software-engineering experience to the business. Operating through advisor subscriptions, PlanBase aims to reduce preparation work across retirement, estate, insurance, and pension planning, giving professionals more time for analysis and conversations with clients.

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

Shopify’s CTO Steps Aside

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Shopify chief technology officer Mikhail Parakhin is leaving the role after just over two years and transitioning to an advisory position, the company confirmed to BetaKit.

The former Microsoft executive joined Shopify in 2024, bringing experience in artificial intelligence and machine learning. During his tenure, the Ottawa-based commerce company expanded AI tools for merchants and deployed the technology internally to accelerate development and improve efficiency.

Shopify has not disclosed the timing or reason for his departure, or named a successor. The leadership change comes as AI becomes increasingly central to how the company builds products and supports merchants across markets.

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