Decoder.ca

Canadian Tech in 100 Words

AbCellera Tests First In-House Drugs on Humans

by

Vancouver’s AbCellera has launched its first human trial of ABCL635, a menopause-related drug targeting hot flashes. The milestone marks the company’s transition to a clinical-stage biotech firm, CEO Carl Hansen said.

AbCellera is also enrolling patients in a trial for a potential eczema treatment. Known for its partnerships—most notably with Eli Lilly on COVID-19 treatments—AbCellera reported a Q2 loss of US$34.7 million on US$17.1 million in revenue. Despite the loss, the company has US$753 million in liquidity and added nine new partner projects this year, bringing its total to 102.

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

Canadian Fintech Rail Sold to U.S. Crypto Firm Ripple

by

Toronto fintech Rail has been acquired by Ripple for $275 million, the firms announced today. Ripple, a San Francisco-based blockchain company, will integrate Rail’s stablecoin-powered infrastructure to enhance its global payment capabilities.

Rail specializes in virtual accounts and back-office automation for international B2B payments. CEO Bhanu Kohli says the combined firm will offer faster, compliant, and seamless cross-border settlement. Rail expects to process over 10% of the $36B global B2B stablecoin market in 2025. The acquisition awaits regulatory approval and is slated to close in Q4 2025.

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

Harvey Establishes Toronto Hub, Commits to Canadian Legal AI

by

Harvey, an AI platform enhancing legal and professional services, is opening a new hub in Toronto this October. Already used by over 500 clients globally, including Canadian firms Davies and Gowling WLG, Harvey plans to hire more than 20 engineers and sales staff locally.

CEO Winston Weinberg emphasized Harvey’s commitment to Toronto’s legal and tech communities. The new office will focus on engineering, product development, and client collaboration. CTO Siva Gurumurthy says Toronto will serve as a core development engine. The move marks Harvey’s long-term investment in Canadian legal innovation and AI-driven infrastructure.

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

Wealthsimple Refines Platform, Prepares Credit Card Launch

by

Toronto-based Wealthsimple, long positioned as a challenger to traditional banks, is addressing criticism of its minimalist interface with new “Enhanced Performance Insights.” The update, now available on mobile, introduces real-time metrics such as unrealized returns, time-weighted returns, and historical dividends.

Designed to offer a clearer financial picture, these insights aim to help users make informed decisions. Meanwhile, Wealthsimple is quietly developing a Visa Infinite card boasting 2% unlimited cash back. With a growing waitlist, the card signals the firm’s continued expansion into mainstream financial products.

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

Canada’s Largest EV Plant Promises Job Boom in Ontario

by

PowerCo Canada is advancing plans for the country’s largest electric vehicle battery plant in St. Thomas, Ontario. The $7 billion project, expected to be complete by 2027, will produce up to 90 GWh of batteries—enough for one million EVs annually.

Founded in 2022 by Volkswagen Group, PowerCo has launched a recruitment campaign to hire chemists, engineers, IT professionals, and sustainability experts. Thousands of jobs are projected. “This is a fundamental transformation for our community,” said Mayor Joe Preston. The campaign includes province-wide ads and local billboards.

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

Orpyx’s Smart Insoles Aim to Cut Hospitalizations and Costs

by

Calgary’s Orpyx Medical Technologies has launched next-generation sensory insoles to proactively monitor and prevent diabetic foot complications. The wireless insoles track plantar pressure, temperature, and activity, syncing automatically to a secure cloud. Backed by clinical studies, the technology has reduced ulcer recurrence by 86% and healthcare costs by 70%.

Patients are supported by dedicated nurses for coaching and adherence. With foot issues accounting for over $80 billion in U.S. diabetes care, Orpyx offers a scalable solution aligned with value-based care. CEO Dr. Breanne Everett says the goal is to keep people healthy and out of hospitals through early intervention.

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

Shopify Beats Revenue Forecasts With $906M Net Income

by

Shopify posted $2.68B USD in quarterly revenue, up 31% year-over-year, surpassing analyst expectations. Net income hit $906M USD, rebounding from a $682M loss in Q1, while gross profit rose to $1.3B. Gross merchandise volume reached $87.8B, up 16% with strength in North America, Europe, and Asia Pacific.

Operating income grew 19% to $291M, and free cash flow margin remained double-digit for the eighth consecutive quarter. Shares closed at $127 USD on Nasdaq. Shopify also introduced AI-driven developer tools to enable shopping directly within conversational agents, reflecting the company’s continued push toward AI-powered e-commerce.

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

Cohere Expands North AI Agent System to Wider Market

by

Toronto-based Cohere is making its North AI agent-builder widely available, moving beyond early deployments with major clients including RBC, Bell, STC Group, and Ensemble Health Partners.

North combines Cohere’s large language models with search and workflow tools to help employees automate tasks like drafting reports, summarizing requests, or generating job postings. Clients can run North on internal servers or in their own cloud setups, ensuring data privacy. Cohere plans to charge per user rather than per token to boost adoption, positioning North as a single enterprise solution for generative AI-powered productivity.

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

Canada’s Tech Workforce Hits 1.45M, Study Finds

by

Canada’s technology workforce reached 1.45 million in 2024, according to CompTIA’s State of the Tech Workforce Canada 2025 report. The industry now generates $130 billion, or 6% of Canada’s economy. Tech hubs remain concentrated in Toronto, Montreal, and Vancouver, with Alberta and Atlantic Canada emerging as smaller players.

Employment is projected to grow 1.4% in 2025, adding 27,000 jobs, with long-term sector growth nearly double the national average. Median tech wages sit at $97,000—48% above the national median—reflecting high demand for roles in AI, data analytics, cybersecurity, and software development.

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

RBC Unveils ATOM, Its Proprietary AI Model

by

The Royal Bank of Canada has announced ATOM—its “Asynchronous Temporal Model”—a proprietary foundation model designed for financial services. Developed by RBC’s Borealis research institute and part of the Lumina platform, ATOM processes billions of transactions to deliver personalized products and services.

Early applications include responsible lending, risk assessment, and tailored recommendations for 1.3 million Avion Rewards users. Chief Science Officer Foteini Agrafioti says ATOM “represents the future of banking at RBC,” enabling the institution to improve client experiences while maintaining security and privacy. Broader deployment across RBC products is under review.

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