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Canadian Tech in 100 Words

Y Combinator Ends Direct Canadian Investment

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Y Combinator has stopped investing in startups incorporated in Canada, forcing accepted firms to reincorporate abroad, The Logic reported. Updated deal terms now limit eligibility to the United States, Cayman Islands, or Singapore, requiring structural flips for others. Canada disappeared from YC webpages in November 2025 after backing Canadian companies since 2008.

The accelerator invests US$500,000 for seven percent and draws major venture funds to demo day. Alumni include Vidyard, SRTX, and CoLab. None of winter 2026’s 99 companies list Canada headquarters. YC declined comment as applications close February 9, 2026.

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

BDO Canada Acquires GrantMatch

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BDO Canada has acquired GrantMatch, a government grant advisory firm, strengthening its national credits and incentives services. Founded in 1994, GrantMatch supports Fortune 500 companies, municipalities, nonprofits, and SMEs, serving over 1,000 clients in 2025. The firm works with 130 municipalities and specializes in manufacturing, aerospace, forestry, food processing, and cleantech incentives.

GrantMatch will join BDO Canada’s Credits and Incentives group, adding proprietary technology tracking 10,000 programs. Managing partner Rachel Gervais said the deal simplifies funding access. GrantMatch leader Mike Janke joins as tax partner. Nationwide integration begins immediately today.

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

Float Secures $100M to Expand Business Banking

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Toronto-based fintech Float has secured nearly $100 million in non-dilutive debt financing from Silicon Valley Bank, a First Citizens division, and a tier-one Canadian bank. The facilities will expand high-yield business accounts, raise base interest to three percent, and maintain rates up to four percent.

Float will also scale its Charge working capital product, unlocking $1.5 billion in annualized spending power. CEO Rob Khazzam said the funding injects capital into Canada as businesses face margin pressure and cautious borrowing. The platform now serves 6,000 organizations nationwide. Confidence lenders underscores momentum.

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

Compugen Taps AXL to Advance Applied AI

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Compugen, Canada’s largest privately owned technology solution provider, formed a strategic collaboration with Toronto venture studio AXL to accelerate applied artificial intelligence commercialization. The arrangement gives Compugen customers access to elite AI researchers, rapid prototyping, and a venture setting built to test viability before scale.

Compugen will channel customer and internal opportunities into AXL’s research to product pipeline, sometimes inviting clients to participate directly. President and chief executive Harry Zarek said the partnership explores operational challenges for value, while AXL chief executive Daniel Wigdor cited insight to validate solutions.

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Cyclic Materials Raises US$75M to Scale Recycling

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Cyclic Materials has closed an over-subscribed US$75 million Series C round, its largest financing to date, to expand rare earth recycling operations across the United States and Europe while growing research in Canada. The raise brings total equity funding to more than US$162 million and supports deployment of recycling infrastructure as an alternative to mining for materials used in AI, defence, and electric vehicles.

Cyclic recovers rare earths from end-of-life magnets using a two-stage process that cuts emissions and water use. CEO Ahmad Ghahreman said recycling is the fastest path to secure Western supply, particularly for scarce heavy rare earths dominated by China.

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

Deck Calls National Bank Lawsuit Frivolous, Seeks Dismissal

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Montréal startup Deck is asking a Québec court to dismiss a lawsuit filed by its former employer, National Bank of Canada, calling the action “frivolous, abusive, and destined to fail.” The suit, brought by National Bank and its subsidiary Flinks, alleges Deck co-founders Yves-Gabriel Leboeuf and Frédérick Lavoie breached a non-compete agreement.

Deck argues it does not compete with Flinks, instead offering AI agents that retrieve password-protected data on users’ behalf. The founders are seeking dismissal of the claim and $60,000 plus legal fees. The allegations have not yet been tested in court.

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

General Fusion to Go Public in US$1B Deal

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General Fusion has agreed to go public via a merger with a U.S. special purpose acquisition company, valuing the fusion developer at US$1 billion. The Richmond, British Columbia company will combine with Dallas-based Spring Valley Acquisition Corp. III and plans to trade on the Nasdaq after closing.

The deal includes roughly US$105 million in PIPE financing and up to US$230 million from Spring Valley’s trust. After recent funding challenges, General Fusion says the transaction advances its goal of delivering commercially viable fusion power and bringing energy to the grid. Want to know more? Check out the source code here.

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

PwC Survey Flags Trade, Tech Headwinds

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PwC Canada’s 29th CEO Survey shows confidence sliding as geopolitical risk and looming CUSMA talks weigh on leaders. Only 47 percent expect the global economy to improve in 12 months, versus 61 percent globally, while just 27 percent expect Canada’s economy to improve, down from 42 percent last year.

Trade policy worries persist, with 53 percent citing U.S. risk and 35 percent bracing for thinner margins. Although 94 percent have experimented with AI, only 29 percent have deployed it at scale, below the 43 percent global rate. Just 37 percent have an AI roadmap. The report urges a reinvention mindset.

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

Integrated Quantum Unveils Quantum-Resilient AI Layer

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Integrated Quantum Technologies unveiled AIQu™ VEIL™, a quantum-resilient AI infrastructure designed to let enterprises scale artificial intelligence without exposing regulated or proprietary data. VEIL uses a Vector-Encoded Information Layer that anonymizes and compresses information before it enters AI pipelines, allowing models to operate without raw data access.

The company says the approach preserves speed and accuracy while easing compliance across jurisdictions and strengthening long-term security. Chief executive Alan Guibord called VEIL a foundational shift for enterprise AI. Developed by former Equifax executive Jeremy Samuelson, the platform targets industries facing strict privacy and regulatory demands.

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

Shopify Cuts Staff in Partnerships Restructure

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Shopify has laid off a number of employees from its partnerships division as part of a restructuring, according to sources familiar with the matter. The cuts, carried out Wednesday, eliminated multiple roles and an entire team as the company revamps how it works with third-party partners. Affected staff were told their positions were being removed due to an organizational overhaul.

Shopify confirmed it is “starting a new chapter” in partnerships, with a renewed focus on initiatives such as agentic commerce. The company declined to disclose the number of layoffs. The changes follow several rounds of staff reductions in recent years, even as Shopify’s revenue and share price have continued to grow.

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