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Canadian Tech in 100 Words

Calgary’s Helcim Speeds Up Merchant Cash Flow

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Calgary fintech company Helcim has introduced “Faster Deposits,” a new feature that enables small and mid-sized businesses across North America to access funds within minutes of processing credit card transactions. Utilizing real-time networks like Interac Instant, RTP, and FedNow, the system eliminates the standard 1–3 day wait, without extra fees.

Merchants at eligible banks are automatically enrolled after initial transactions. CEO Nic Beique called the feature a “transformation,” addressing common cash flow issues for businesses. Now in beta, Faster Deposits will be fully available by summer 2025.

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

Kepler Launches On-Orbit Compute Service

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Toronto-based Kepler Communications has unveiled a new offering that allows customers to lease or buy edge computing hardware onboard its optical relay satellites, enabling real-time data processing in space. The initiative, supported by its Kepler Network constellation, marks a milestone in on-orbit cloud computing.

Axiom Space will deploy two initial nodes via Kepler’s network to support its orbital data center ambitions. The strategic partnership could enhance mission autonomy, AI capabilities, and secure data relay for civil, commercial, and national security clients. The first Kepler satellites will launch in late 2025.

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

UK’s Osney Capital Targets Canadian Cyber Startups

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Osney Capital has closed its first venture capital fund, raising over $92 million to back early-stage cybersecurity startups in the UK and Canada. The UK-based firm is opening a Calgary office led by Adam Cragg, formerly of Innovate Calgary. Cragg emphasized strong UK–Canada ties and noted Canada’s AI, quantum, and data centre strengths.

Osney will invest in up to 30 startups, with cheques between £250,000 and £2.5 million. The British Business Bank led the raise, alongside IronGate Capital Advisors and Canadian family offices. Osney is positioning itself as the only VC focused solely on seed-stage cybersecurity across both countries.

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

40% of Shopify’s Interns Come From University of Waterloo

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Tobias Lütke, CEO and co-founder of Shopify, praised the University of Waterloo’s talent pipeline during a fireside chat with university president Vivek Goel. Lütke revealed Shopify hires 40% of its interns from Waterloo, lauding its co-op students as among the best globally. He emphasized Canada’s potential to lead in tech through domestic talent.

Waterloo’s co-op program links over 8,000 employers with students, enriching Canada’s innovation ecosystem. Shopify is now hiring for Fall 2025 Engineering & Data Internships, running September 2 to December 19. Applications open April 7.

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

Markets Sink as Trump Tariffs Spark Panic

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U.S. stocks plunged for a second consecutive day as investor anxiety mounted over sweeping tariffs announced by President Trump. The S&P 500 dropped 5.97%, the Dow fell 2,231 points (5.5%), and the Nasdaq slid 5.8%, entering bear territory. The two-day market loss of $6.4 trillion surpasses records from March 2020.

Tech and media giants including Apple, Disney, and Netflix led declines. Trump’s tariffs, effective April 9, target all imports, with steep rates on Chinese and Asian goods. China condemned the move as “bullying.” Analysts warn of recession risks and reduced consumer spending.

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

Vancouver’s Sanctuary AI Eyes US$175M, Targets U.S. Expansion

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Sanctuary AI, a Vancouver-based robotics firm, is preparing a US$175 million capital raise, per The Logic. To bolster funding, it’s selling a majority stake in Texas-based Apptronik, acquired in 2022 for US$10M. The stake’s value soared after Apptronik’s US$350M round earlier this year.

Sanctuary may secure up to US$125M from the sale and another US$50M from U.S. venture firms. Funds will support operations and the acquisition of U.S. rival Rapid Robotics. Sanctuary builds the Phoenix humanoid robot, powered by its proprietary AI, Carbon. The firm hopes to close the round by May.

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

Shopify Execs Challenge Ottawa’s Grip on Innovation

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A combative turn in Canadian tech discourse saw Shopify executives publicly rebuke federal policy. COO Kaz Nejatian, President Harley Finkelstein, and ex-VP Daniel Debow criticized government overreach, sparking debate on X. Their complaints helped rally a tech-led reform group, Build Canada, promoting AI-driven governance and deregulation.

Observers worry this rising “broligarchy”—inspired by U.S. tech’s political incursions—undermines democratic norms. Though claiming neutrality, Build Canada aligns with conservative populism and seeks systemic disruption. Critics fear tech elites mistake disruption for governance. As government trust falters, this shift could reshape policymaking—or democracy itself.

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

Apple Leads Market Drop Amid Trade Fears

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Technology stocks fell sharply Thursday following President Donald Trump’s announcement of sweeping new tariffs on imported goods, triggering widespread investor alarm. Apple, which manufactures in Asia, plunged 8%, while the Nasdaq Composite dropped 5%—its worst session in five years. Meta and Amazon declined 7%, Nvidia and Tesla over 4%.

Semiconductor firms such as Arm, Broadcom, and Lam Research dropped 8%+, with Micron tumbling 14%. Trump’s tariffs include a 34% duty on China, sparking criticism from Beijing. Microsoft and Alphabet also slipped. The selloff reflects market fears of a global trade war and deepening concerns over U.S. economic stability.

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

Canada’s Startup Bank Retreats from Risk

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The Business Development Bank of Canada (BDC) has shuttered its intellectual property financing program and slashed staff in its deep-tech fund amid a worsening capital crunch. The bank, which reported $220 million in venture losses in 2024, is struggling to recoup investments as early-stage firms delay returns.

BDC’s deep-tech fund, once Canada’s largest, will no longer seek new deals. Remaining capital will support its 12 current portfolio firms. Meanwhile, BDC is redirecting $1 billion toward lower-risk, later-stage investments. The restructuring reflects broader early-stage funding challenges, as investors shift focus away from high-risk innovation.

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

Damon Taps European Expertise to Revive Delayed Electric Motorcycle

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Damon Motors of Vancouver this week revealed a collaboration with Italy’s Engines Engineering to accelerate the long-delayed HyperSport electric motorcycle. Promising a 200-mile range and top speed, HyperSport features AI-driven 360º collision avoidance. Once hailed as revolutionary, repeated delays tarnished confidence—until now.

Engines Engineering, established in 1979, brings racing pedigree to support validation under track conditions. Interim CEO Dom Kwong says the partnership enables efficient development of Damon’s proprietary powertrain and safety systems. With share prices rebounding 20% post-announcement, investors seem reenergized. Damon still targets a 2025 launch.

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