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Canadian Tech in 100 Words

Canadian Subsea Firm Expands Defence Reach

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St. John’s-based marine technology company Kraken Robotics has agreed to acquire UK-based Covelya Group for $615 million, expanding its presence in subsea technology and the growing defence market.

The deal will combine Kraken’s underwater robotics, sensors, and batteries with Covelya’s portfolio of navigation, positioning, and imaging technologies used in maritime defence and commercial operations. Covelya’s subsidiaries include Sonardyne, EIVA, and Wavefront Systems. Once completed in the second quarter of 2026, the combined company will employ roughly 1,200 people and operate more than 450,000 square feet of production space worldwide. Kraken will remain headquartered in Canada and led by its existing management team.

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

Wealthsimple Joins SWIFT Network

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Toronto-based Wealthsimple has joined the global SWIFT financial messaging network, becoming the first Canadian fintech and only the second non-bank worldwide to gain direct access.

Used by more than 11,000 financial institutions, SWIFT enables trillions of dollars in cross-border payments annually. Wealthsimple says membership will allow clients to track international wire transfers in real time while improving speed and transparency. The company is completing final technical integration ahead of a full launch this spring and plans to adopt Canada’s upcoming Real-Time Rail payments system. Wealthsimple serves more than three million Canadians and manages over $100 billion in assets.

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

ALL IN Launches Regional AI Talks Series

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ALL IN is expanding beyond Montréal with the launch of ALL IN Talks, a new series of regional events designed to accelerate the adoption of Canadian-built artificial intelligence solutions. The series will debut with ALL IN Talks West in Vancouver on April 15, followed by ALL IN Talks Toronto on May 28.

Unlike large-scale conferences focused on thought leadership, the events will emphasize practical AI implementation by connecting enterprises exploring adoption with Canadian technology providers offering market-ready tools. Presented by TELUS and SCALE AI, the Vancouver gathering will highlight Western Canada’s growing role in enterprise AI deployment ahead of ALL IN’s flagship Montréal conference in September.

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

Wheaton Awards $1M Mining Water Prize

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Vancouver-based Wheaton Precious Metals has awarded USD $1 million to New York startup Cetos Water, winner of the company’s second annual Future of Mining Challenge. The competition focused on technologies addressing sustainable water management in mining operations. Cetos Water’s low-energy, solvent-based system converts complex mine wastewater into clean, reusable water, helping reduce freshwater demand and environmental risk.

Delivered in partnership with the University of British Columbia’s Sauder School of Business, the challenge drew global applicants. Canadian companies pH7 Technologies of Vancouver and H2nanO of Kitchener were named finalists, highlighting Canada’s growing cleantech presence in mining innovation.

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

Loop, Wave Launch Direct API

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Toronto fintech Loop has partnered with accounting platform Wave to launch a direct API integration connecting business banking data with accounting records. The integration enables Loop customers to automatically sync transactions into Wave, eliminating the need for unreliable screen-scraping connections commonly used by Canadian small businesses.

Loop says it is the first Canadian business banking provider to offer a native API connection with Wave. The system supports multi-currency accounts and transactions in USD, EUR, and GBP, while enabling real-time reconciliation inside Wave’s accounting software. The integration is now available to Canadian businesses using both platforms.

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

AI Adds to Accountants’ Workloads

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A new survey from Dext finds Canadian accountants are spending hours each month correcting AI-generated tax mistakes made by clients. Of the 500 accountants surveyed, 44% said they spend up to three hours monthly fixing errors linked to public AI tools, while 38% spend four to 10 hours. Only 7% reported no AI-related mistakes.

Common issues include incorrect interpretations of business expenses and payroll errors, with 70% saying clients use AI outputs to challenge professional advice. While some see promise in AI-assisted tax guidance, many warn that without oversight, financial penalties can follow.

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

Agentic Finance Startup Secures Backing

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Pluvo has raised $5 million in seed financing to accelerate development of its agentic AI financial analysis engine and expand go-to-market efforts. The round included participation from Andreessen Horowitz’s a16z speedrun, Deel, The Perseverance Fund, StandUp Ventures, AltaIR Capital, and strategic angel investors, including existing customers.

CEO Alex Labrèche says the platform helps CFOs move from data to decisions faster by deploying AI agents to analyze models, forecasts, and scenarios in real time. A graduate of Alchemist Accelerator and now a16z speedrun, Pluvo plans to expand integrations and scale its product team.

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

CIB Backs Nova Scotia Wind

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The Canada Infrastructure Bank is providing a $206 million loan to support the Mersey River Wind project in Nova Scotia, alongside developers Slate Asset Management and Hamilton Lane. The wind farm will feature more than 30 turbines generating nearly 150 megawatts of clean electricity, sold directly to local residents and businesses by Renewall Energy.

Eligible for the federal Clean Technology Investment Tax Credit, the project is expected to avoid roughly 220,000 tonnes of emissions annually. Construction will unfold in two phases, with the first targeted for completion in 2027.

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

Coincheck Acquires Canada’s 3iQ

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Japan’s Coincheck is acquiring Toronto-based 3iQ from its parent company Monex Group, consolidating ownership within the same corporate family. Founded in 2012, 3iQ became Canada’s first regulated Digital Asset Investment Fund Manager in 2017 and has launched products including The Bitcoin Fund, The Ether Fund, and the Solana Staking ETF.

The Ontario fintech also appointed Chris Desjardins as chief technology officer. A digital asset entrepreneur, Desjardins previously co-founded Tungsten and Big Index, both acquired custody-focused firms. CEO Pascal St-Jean says the leadership addition supports 3iQ’s global ambitions as crypto assets go mainstream.

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

Pension Giants Back AI Power Deal

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TransAlta is partnering with the Canada Pension Plan Investment Board and Brookfield to power a proposed data centre west of Edmonton at its Keephills natural gas plant. The memorandum outlines an initial 230-megawatt long-term power purchase agreement, potentially scaling to 1,000 megawatts, as Alberta caps new large-load connections at 1,200 megawatts through 2028.

CEO John Kousinioris said the framework aligns with provincial grid constraints as the government targets $100 billion in data centre investment. TransAlta shares rose following the announcement, and the company increased its quarterly dividend while reporting a fourth-quarter net loss.

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