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Canadian Tech in 100 Words

Canada’s Space Race Heats Up with EDC Funding

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Maritime Launch Services has secured a $10-million senior credit facility from Export Development Canada to advance construction of Spaceport Nova Scotia. The Halifax-based aerospace firm said the funding will support launch pad and infrastructure work for future orbital missions near Canso, 300 kilometres east of Halifax.

CEO Stephen Matier said the partnership demonstrates Canada’s ability to achieve sovereign launch capability. The publicly traded company, founded in 2016, became the first space-related listing on the NEO Exchange in 2022. Maritime Launch is targeting Canada’s first orbital rocket launch, competing with Ontario-based NordSpace’s developing Newfoundland site.

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

Ottawa Too Entangled to Cut Ties with Amazon Web Services

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A federal review of Ottawa’s business dealings with Amazon found that cutting ties with the tech giant’s cloud division, Amazon Web Services (AWS), would be expensive, time-consuming, and likely shift contracts to other hyperscalers. The February report, obtained by The Logic, followed Amazon’s closure of seven Quebec warehouses that cut over 4,500 jobs.

It revealed Ottawa’s heavy reliance on AWS, which holds more than 600 government contracts worth over $220 million since 2020. Despite political outrage, the federal government has since awarded AWS an additional $9.7 million in new contracts, including one with National Defence.

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

Neo Financial Expands Toronto Hub Amid Rapid Growth

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Neo Financial, Canada’s fastest-growing fintech, is expanding its Toronto presence as it continues rapid national growth. Founded in Calgary in 2019 by the team behind SkipTheDishes, Neo has become the first company to top Deloitte’s Technology Fast 50™ three years running.

Co-founder Jeff Adamson said the expansion deepens ties to Ontario’s financial and technology hub, where the firm’s Toronto workforce has tripled in a year. Neo will add roles through 2026 in credit, AI, and payments. The company reports saving Canadians over $110 million in fees, underscoring its mission to make modern banking more accessible.

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

Jetson CEO Honoured by TIME for Clean Tech Leadership

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Vancouver entrepreneur Stephen Lake has been named to the TIME100 Climate list, honouring global leaders advancing climate action. Lake, co-founder and CEO of Jetson, was recognized for his role in developing affordable home electrification solutions. Jetson’s technology halves the cost of heat pump installation by streamlining assessments and eliminating markups.

TIME cited Lake’s call for governments to redirect fossil fuel subsidies toward clean energy adoption. Earlier this month, Jetson Air — a smart home heat pump system — was named one of TIME’s Best Inventions of 2025. Lake previously co-founded North, later acquired by Google.

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

TD Bank Joins MIT Media Lab to Advance Responsible AI

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TD Bank has joined the Massachusetts Institute of Technology’s Media Lab as a founding collaborator in its Scalable AI program, “sAIpien.” The initiative unites industry and academia to advance responsible, human-centric AI. Luke Gee, TD’s Chief Analytics & AI Officer, said the collaboration underscores the bank’s commitment to innovation and generative technologies.

Researchers will explore how AI can transform financial services over the next decade. The move follows TD’s launch of a Wealth Virtual Assistant powered by its in-house AI Prism model, developed by Toronto-based Layer 6. TD is North America’s sixth-largest bank.

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

Sheertex Maker Explores Sale as Founder Seeks Return

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SRTX founder Katherine Homuth has submitted a proposal to rejoin the Montreal-based company as it undergoes a strategic review that may lead to a sale. The maker of Sheertex rip-resistant tights confirmed it is exploring options including a sale, recapitalization, or reorganization.

Current CEO Sophie Boulanger is stepping down for personal reasons after guiding the firm through transition. Nearly 100 employees have been temporarily laid off as operations are reassessed. Homuth, who left in March following a $40-million fundraising round, said her goal remains to restore profitability and preserve advanced manufacturing jobs in Canada.

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

Microsoft Backs Vancouver’s Arca in Carbon Storage Push

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Vancouver-based Arca Climate has signed a landmark offtake agreement with Microsoft to deliver 300,000 tonnes of carbon dioxide removal (CDR) over the next decade. The deal validates Canada’s global leadership in carbon removal technology.

Arca’s industrial mineralization process transforms atmospheric CO₂ into rock by repurposing mine tailings and waste rock, creating permanent carbon storage with minimal land or water use. CEO Paul Needham called the partnership a breakthrough for scalable, durable carbon removal. Co-founder Dr. Greg Dipple noted it builds on 20 years of research and 30 mining partnerships worldwide.

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

Physician-Led Startup Rises in Canada’s Healthtech Sector

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Calgary-based Ava Industries has been named a Company-to-Watch on Deloitte’s 2025 Technology Fast 50 list after reporting 364% revenue growth over two years. Founded by physicians Dr. Mike Forseth and Dr. Matt Henschke, Ava develops an all-in-one electronic medical record system used by more than 7,500 healthcare professionals across 300 clinics.

Its AI-powered suite—featuring Ava Scribe, Enhanced Document Classifier, and AI Patient Care Plans—streamlines charting and communication. Forseth said the tools help clinicians spend more time with patients. Ava will present next month at national conferences on the future of healthcare innovation.

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

NorthX Backs Four New Carbon Removal Ventures

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NorthX Climate Tech announced $3.4 million in new investments at the IEA’s 2025 Energy Innovation Forum, supporting four Canadian carbon removal startups: CarbonRun, Skyrenu Technologies, NULIFE Greentech, and pHathom Technologies. The funding was unveiled alongside Minister of Energy and Natural Resources Tim Hodgson.

Meanwhile, NorthX portfolio company Arca Climate secured a 10-year offtake agreement with Microsoft for 300,000 tonnes of carbon removal. Minister Hodgson praised Canada’s growing leadership in clean growth. NorthX has now invested $45 million across 72 projects, creating 870 jobs and drawing $477 million in follow-on funding.

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

New Toronto Initiative Prepares Legaltech Founders to Raise Capital

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The Legal Innovation Zone at Toronto Metropolitan University and MT Ventures, the venture arm of McCarthy Tétrault, have launched the Startup SuperCharger Program to help early-stage legaltech founders prepare for fundraising. Running October 2025 to March 2026, the seven-stage series will be hosted at McCarthy Tétrault’s Toronto office and conclude with a demo day for investors.

Participants will receive guidance on product-market fit, legal readiness, and financial storytelling. LIZ Director Dr. Sasha Saunders called the partnership a “critical support at a pivotal stage.” McCarthy Tétrault Partner Robert Anton said it strengthens Canada’s innovation ecosystem.

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