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Canadian Tech in 100 Words

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.

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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.

Motive Partners Invests $100M in AI Firm Electric Mind (formerly Intelliware)

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Private investment firm Motive Partners has invested $100 million in Electric Mind, a Canadian AI-led services company specializing in engineering solutions for financial institutions. The partnership will expand Electric Mind’s U.S. operations and strengthen its AI and data engineering capabilities.

CEO Chris Ford said the collaboration aligns with the firm’s mission to “turn complex challenges into practical solutions.” Motive’s Investor–Operator–Innovator model will guide Electric Mind’s next growth phase, with industry veterans Richard Lumb and Sreeram Visvanathan joining the board. Envoy Capital Advisors acted as financial advisor, while Weil Gotshal and McCarthy Tétrault provided legal counsel.

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Maple Bridge Ventures Raises $10M to Back Immigrant Founders

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Ottawa-based Maple Bridge Ventures has closed $10.2 million CAD in its debut venture fund supporting immigrant-led Canadian technology startups. The raise brings the firm halfway to its $20 million target. Founded by former Export Development Canada executive Eric Agyemang, Maple Bridge will invest $250,000–$1 million in pre-seed and seed ventures across agriculture, food, health, and enterprise tech.

Anchor investors include Farm Credit Canada and Realize Capital Partners, backed by the Government of Canada’s Social Finance Fund, alongside the Vancouver Foundation, Fairmount Foundation, and ex-Canopy Growth CEO Mark Zekulin. Forty percent of the fund is reserved for follow-on investments.

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

Wealthsimple Hits $10B Valuation in $750M Raise

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Toronto-based Wealthsimple has announced an equity raise of up to $750 million, valuing the company at $10 billion post-money. The round was co-led by Dragoneer Investment Group and Singapore’s GIC, with participation from CPPIB, Power Corp, IGM Financial, ICONIQ, Greylock, and Meritech.

CEO Michael Katchen said the funding reflects investor confidence in Wealthsimple’s mission to redefine financial services. Profitable since 2024, the fintech manages more than $100 billion in assets and continues to expand with zero-commission options trading, gold investing from $1, and an upcoming AI-powered dashboard.

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

Hootsuite Restructures, Trimming Hundreds of Jobs

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Vancouver-based Hootsuite has confirmed it is laying off about 20% of its global workforce, representing several hundred employees. The social media management firm told Business in Vancouver the cuts are part of a company-wide restructuring.

“We made the difficult decision to reduce our global workforce by 20%,” the company said, thanking departing employees for their contributions. The layoffs follow Hootsuite’s recent recognition as a finalist for Anchor Company of the Year at the BC Technology Impact Awards. Chief Customer Officer Tara Ataya previously praised B.C.’s innovation ecosystem.

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