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Canadian Tech in 100 Words

IBM Flags Canada’s Defining AI Moment

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IBM Canada says Canadian businesses are entering a defining moment for artificial intelligence, according to a new report outlining five trends shaping confidence, speed, and trust in 2026. The study finds executives optimistic about their own organizations despite economic uncertainty, with strong emphasis on AI sovereignty and secure domestic infrastructure.

Agentic AI is accelerating decision-making, while trust and transparency remain critical for adoption. Workforce sentiment is largely positive, though resistance persists around AI-led management. IBM argues that enterprises moving from experimentation to operational AI will gain competitive advantage as Canada positions itself as a global leader in responsible AI deployment.

Want to know more? Check out the source code here.

Neo Financial Raises $68.5M at Higher Valuation

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Calgary-founded fintech Neo Financial has raised $68.5 million in an oversubscribed round led by more than 100 Canadian investors, at a valuation above its $362-million Series D in 2024. Backers include Alberta Investment Management Corporation, Northleaf Capital Partners, Plaza Ventures, and Sandstone Asset Management.

Neo will use the capital to launch Canada’s first fintech-led securitization program, enabling bank-style, capital-efficient credit growth. Chief executive Andrew Chau said the move aligns Neo with Tier 1 banking practices while scaling lending nationally. The raise underscores growing domestic confidence in Alberta-built financial technology and signals a maturation of Canada’s fintech ecosystem.

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

Air Passenger Complaints Face Three-Year Delays

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Canadians filing air passenger complaints now wait nearly three years for rulings from the Canadian Transportation Agency, according to new data from Toronto legaltech startup Courtready. Average wait times reached 987 days as of September 2025, while decisions issued fell sharply. CTA rulings declined from 7,076 in the third quarter of 2024 to 4,301 a year later, with just 1,348 decisions issued in September.

Courtready says delays are pushing more travellers into provincial courts, straining justice systems and increasing risks for self-represented litigants. Founded in July 2025, Courtready offers tools to track complaints, find hearings, and guide users through air travel disputes.

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

Velix Raises $2M to Tackle Logistics Finance

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Montreal fintech startup Velix has raised $2 million in pre-seed financing to build a financial operations platform for logistics and supply-chain operators. The round was led by Luge Capital, with participation from Stand Up Ventures and Accelia Capital. Velix also named Nicholas Richards, co-founder of ShipHero, as an advisor.

The company targets growing financial complexity among third-party logistics providers, which increasingly act as intermediaries managing freight reconciliation, billing, and disputes. Velix aims to replace manual workflows with automated tools as Canada’s logistics market expands. The capital will support hiring, product development, and market expansion ahead of broader platform availability.

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

Epstein Invested in Blockstream Seed Round

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Documents released by the U.S. Department of Justice show Jeffrey Epstein invested about US$500,000 in a 2014 seed round for Montreal-founded Bitcoin firm Blockstream. The investment was made via Kyara Investments III, co-owned with former MIT Media Lab director Joi Ito.

Blockstream chief executive Adam Back said the stake was sold months later due to conflicts and that neither Epstein nor his estate has any financial connection today. Digital Garage later invested in subsequent rounds. Emails indicate meetings in 2014 and an increased allocation despite oversubscription. Blockstream declined further comment.

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

AI Data Centres Face B.C. Power Limits

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BC Hydro has opened applications for 400 megawatts of electricity over two years, forcing artificial intelligence data centres to compete for limited power. Final project selections are expected in September. Mining, forestry, manufacturing, and hydrogen projects are exempt.

B.C. Jobs Minister Ravi Kahlon said the rationing aims to avoid grid strain seen elsewhere. In the U.S., surging data-centre demand has raised wholesale prices and consumer bills. Major operators in B.C. include Bell and IREN. The province has already barred new crypto data centres from the grid, while Alberta and Ontario pursue similar controls.

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

Synapse Plans $10B Alberta Data Centre

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Synapse Data Center announced plans for a one-gigawatt data facility in Alberta, a $10 billion private investment slated over two years. The proposed campus in Olds would be ten times larger than existing Canadian data centres and create about 2,000 construction jobs, plus more than 1,000 permanent high-skilled roles once operational.

Chief executive Jason van Gaal said Olds offers a strategic location between Calgary, Edmonton, and Red Deer with access to talent. Mayor Dan Daley called it among Canada’s most significant digital infrastructure investments. Synapse said it will pursue approvals with the Alberta Utilities Commission and Alberta Energy Regulator accordingly.

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

Hootsuite Faces Backlash Over Government Client

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Hootsuite, the social media management firm, is facing scrutiny over its decision to retain United States Immigration and Customs Enforcement as a client. Protest group Democracy Rising demonstrated outside the company’s Vancouver office, criticizing the relationship amid market pressures and public sensitivity.

Chief executive Irina Novoselsky said Hootsuite works with governments without endorsing policies and does not provide individual surveillance. Founded in 2008, Hootsuite rose in the 2010s before competition, platform changes, and AI tools reshaped the sector. The company is balancing reputational risk against revenue tied to the account.

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

OpenText Sells Vertica for $150M

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OpenText Corporation announced an agreement to divest Vertica, a non-core analytics asset, to Rocket Software for US$150 million in cash. The sale advances OpenText’s strategy to focus on secure information management for enterprise AI and cloud solutions. Executive chairman P. Thomas Jenkins said rationalizing non-core assets strengthens capital allocation and long-term growth.

Vertica generated about US$80 million revenue in fiscal 2025. Interim CEO James McGourlay said the deal places Vertica with a committed owner and supports customers during transition. Proceeds will reduce debt. Rocket Software is backed by Bain Capital.

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

Amazon Layoffs Spark Concern in Vancouver

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Amazon remains a major employer in British Columbia, with more than 10,000 workers provincewide, including roughly 4,500 corporate staff in downtown Vancouver. However, the company’s plan to cut 16,000 jobs globally has raised local concerns.

City councillor Peter Meiszner said Amazon’s Vancouver employees work in high-value fields like AI and web development, adding that recent expansion plans offer reassurance. Industry observers describe the layoffs as a post-pandemic correction following aggressive hiring during COVID-19. University of Manitoba professor Adam Donald King said the cuts reflect workforce resizing, not artificial intelligence displacement. Amazon declined to specify potential local impacts.

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