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Canadian Tech in 100 Words

Corinex Secures $42M to Modernize Power Grids

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Vancouver-based Corinex has raised $42 million to scale its broadband-over-power-line (BPL) technology, which enables real-time visibility and flexibility in low-voltage electricity grids. Led by U.K.’s Energy Growth Momentum, with participation from Suma Capital and Adara Ventures, the funding supports Corinex’s mission to modernize grid infrastructure for decentralized low-carbon technologies.

Deployed in Germany, Spain, and the U.K., Corinex’s systems provide edge computing and dynamic load balancing. CEO Peter Sobotka said the investment will help utilities scale without costly overhauls. The company is emerging as a key player in the global shift to digital, sustainable, and AI-ready energy networks.

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

150 CEOs Call for Innovation Strategy Amid Uncertainty

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Today, 150 CEOs and tech leaders signed an open letter calling for a national economic strategy to secure Canada’s future amid global uncertainty. Spearheaded by the Council of Canadian Innovators, the letter warns that Canada can no longer rely on U.S. market access and urges bold industrial planning.

CCI President Benjamin Bergen said current political discourse lacks serious economic vision. CCI has issued policy recommendations in its What Innovators Need to Scale brief and hopes party leaders will outline a roadmap ahead of next week’s election debate.

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TELUS Details $150M Data Transformation with Google Cloud

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At Google Cloud Next 25, TELUS shared how a sweeping data overhaul helped the telecom giant become an AI-driven enterprise. Head of Enterprise Data Engineering Stephen Lee described migrating from legacy on-prem systems to a unified cloud platform on Google BigQuery.

The transformation, supported by Accenture and Onix, enables self-serve analytics and generative AI across business lines. TELUS eliminated 30% of outdated data and now ingests from over 100 internal systems. The initiative contributed $150M in EBITDA gains and powers cross-unit innovation, including a new MDM initiative. “People, process, and technology—that’s what it takes,” said Lee.

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

Google Cloud’s Canada Strategy Built on Focus, Not Scale

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At Google Cloud Next 25, Farsad Nasseri, Managing Director of Google Cloud Canada, reflected on the company’s success in Canada, attributing it to a focused, partnership-driven approach. Rather than scale rapidly, Google Cloud partnered early with anchor clients like Shopify, TELUS, and Scotiabank to develop tailored, regulated solutions.

Canadian demand for AI in telecom and finance is rising, with use cases in fraud detection and service automation. With new infrastructure in two regions and support for local data sovereignty, Nasseri sees continued growth ahead. “We’re just getting started,” he said.

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

Calgary’s PrePad Raises $3.9M to Expand Drilling Tech

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Calgary-based PrePad has raised $3.9 million in seed funding to advance its cloud-based software for drilling and completions. The funding, led by Devon Energy with support from Chevron Technology Ventures, BDC, and Alberta Innovates, will support U.S. expansion and product development. PrePad’s platform helps energy firms optimize well economics by simulating cost, time, and production trade-offs.

CEO Sean Hervo called the round a “major milestone,” positioning PrePad as a leader in drilling software innovation. Clients already include Chevron, Shell, and Birchcliff. With additional subscriptions launching in 2025, the company aims to dominate a newly defined software category.

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

Agentic AI Gains Ground in Canadian Businesses

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A new KPMG survey reveals growing interest in agentic AI among Canadian business leaders. While only 27% have deployed it, 86% consider it a top investment priority, with 57% planning adoption in six months. Agentic AI uses language models to perform tasks autonomously—handling refunds, customer inquiries, and compliance without human input.

KPMG’s Stephanie Terrill calls it “the most transformative AI” yet. Despite optimism, 55% say their workforce isn’t ready, and 89% foresee major upskilling needs. Cost, data quality, and cybersecurity remain key concerns. Still, 88% believe agentic AI will sharpen competitiveness.

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

TXIO Launches Real-Time Financial Planning Tool

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Toronto-based TXIO Corporation continues to expand its personal finance platform Neontra with the launch of Responsive Financial Planning. Neontra, available on web, iOS, and Android, uses proprietary AI to offer users a full 360-degree view of their financial lives. The new feature, aimed at financial institutions, enables real-time alerts and guidance when client circumstances shift.

CEO Daniel Vranesic says this innovation helps banks and advisors provide tailored insights and improve client engagement. TXIO positions Neontra as a financial “Super App” supporting everything from spend tracking to scenario planning for a secure financial future.

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

Google Unveils AI Milestones at Google Cloud Next 25

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At Google Cloud Next 25 in Las Vegas, CEO Thomas Kurian showcased the company’s AI momentum, revealing over 3,000 product updates in 2024 and surging usage of Gemini and Vertex AI. More than 4 million developers now use Gemini, while Workspace delivers 2 billion monthly AI assists.

Google introduced its most powerful AI chip, Ironwood, and announced $75B in infrastructure investment. Agentspace, a new AI agent platform, and smarter Workspace features mark Google’s bid to lead in enterprise AI. “The opportunity with AI is as big as it gets,” said CEO Sundar Pichai.

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Wealthsimple Acquires Team Behind Fintech Startup Plenty

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Toronto-based fintech Wealthsimple has acquired the team behind San Francisco wealth platform Plenty. Co-founders Emily Luk and Channing Allen will join Wealthsimple’s product and engineering teams, respectively, along with three software developers. Founded in 2021, Plenty helped couples manage finances, including tools for budgeting, joint accounts, and even breakups.

The startup, backed by Inovia Capital, raised nearly $11M CAD and will shut down May 10. Wealthsimple says the team’s experience will enhance its offerings for families and couples. Luk previously held leadership roles at Stripe and Even, while Allen served as technical lead at Even.

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Tailscale Raises USD $160M to Expand Secure Work VPN

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Toronto-based VPN startup Tailscale has secured US$160 million in Series C funding to expand its workplace connectivity platform. The round was led by Accel, with participation from CRV, Insight Partners, Heavybit, and Uncork Capital. CEO Avery Pennarun said the funds will support product development and hiring across engineering, product, and support roles.

Tailscale’s VPN software is used by companies including Instacart and Duolingo, and is gaining traction among AI developers needing fast, secure access between chips and cloud systems. Clients include Cohere, Groq, Hugging Face, and Mistral. Tailscale previously raised US$117M and reached unicorn status in 2022.

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