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Canadian Tech in 100 Words

Canadian Banks Rely on Risky Screen Scraping Practices

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Half of Canada’s major banks use “screen scraping,” a controversial method that accesses customer accounts using login credentials, The Logic reports. BMO, RBC, and National Bank are among the institutions employing this practice, which enables apps to aggregate financial data but exposes users to privacy risks.

While nine million Canadians have used screen scraping, privacy advocates warn of cyber threats. Banks’ terms of service typically prohibit credential sharing, yet the lack of open banking alternatives has led to reliance on this insecure method. Experts like Koho CEO Daniel Eberhard blame Canada’s stalled open banking progress for the continued risks.

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

Global CEOs Predict Growth Despite Inflation Woes

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According to PwC’s 28th Annual Global CEO Survey, released during the World Economic Forum, 60% of global CEOs foresee increased economic growth in 2025. However, challenges persist: macroeconomic volatility (29%) and inflation (27%) rank as top concerns. Optimism about Generative AI is rising, with 49% expecting profitability gains in 2025.

Climate-related investments are proving lucrative, with 33% of CEOs reporting revenue increases. Yet, reinvention remains critical—42% fear their firms won’t survive the decade without significant change. CEOs emphasize agility, innovation, and trust in AI as keys to navigating a dynamic global economy.

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

Borderless AI Raises $5M With Cohere Co-Founders’ Backing

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Toronto-based Borderless AI has secured a US$5 million seed extension backed by Cohere co-founders Aidan Gomez and Ivan Zhang. This funding adds to the US$27 million raised in March 2024. Borderless, led by CEO Willson Cross, develops AI tools to automate onboarding and paperwork for remote international hires.

Now available in Canada and California, the company also launched HRGPT, a free tool for handling HR inquiries and tasks. Initially built on Cohere’s language models, Borderless now uses multiple AI providers. Gomez and Zhang continue investing in AI startups, expanding their growing angel portfolios.

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

Canada’s Top 50 Venture Capital Firms Powering Growth in 2025

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The CVCA’s The 50 (2025) report highlights the top 50 Canadian venture capital (VC) firms driving innovation across sectors like cleantech, life sciences, and artificial intelligence. In 2024, Canadian VCs invested $6.5 billion across 426 deals, marking a significant rebound in venture funding. Ontario, British Columbia, and Quebec dominated activity, reflecting strong regional ecosystems.

Major deals included Clio’s $1.24 billion round, showcasing investor confidence in legal tech. The report underscores Canada’s leadership in sustainable innovation and its growing global influence.

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

Sagehood’s AI Investment Tool Draws Industry Attention

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Vancouver-based Sagehood is making waves in fintech with its AI-driven investment platform, offering personalized stock recommendations and portfolio analysis to help investors navigate market volatility. Addressing issues of information overload highlighted by the Federal Reserve, Sagehood filters out market noise for smarter decision-making.

Since its launch, the platform has gained global traction, ranking highly on Product Hunt and attracting users from major firms like BlackRock. Interest from Bloomberg and U.S. investors signals growth potential. Co-founded by Amir Seyedi, Alireza Mahmoudi, Masoud Khosravi, and Ali Jafari, Sagehood is poised to disrupt traditional investing.

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

Canadian Influencers in U.S. Brace for TikTok Ban

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Canadian content creators in the U.S. face uncertainty as the potential TikTok ban threatens their livelihoods. Influencers like Jess McKay and Ryan Robinson-Hatton, who rely heavily on TikTok for brand deals, are bracing for income losses. TikTok claims creators could lose nearly USD $300 million monthly if banned.

Many Canadian influencers moved to the U.S. for better monetization opportunities unavailable in Canada. The ban could severely impact creators without diversified platforms. While some, like Dan Rodo, have backup incomes, others anticipate financial hardship.

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

$51M Fund Boosts Agricultural Innovation in Alberta

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ATB Financial and The51 Food and AgTech General Partners have finalized The51 Food and AgTech Fund at $51 million, supporting early-stage science and technology founders transforming agriculture. Managed by NYA Ventures, the fund targets innovations in crop yields, soil health, and sustainable food production.

ATB CEO Curtis Stange emphasized the bank’s commitment to Alberta’s agriculture sector. Fund leaders Shelley Kuipers, Judy Fairburn, and Alison Sunstrum stressed backing underrepresented founders and leveraging technologies like AI and biotechnology to modernize farming. This funding milestone reflects investor confidence in agricultural innovation.

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

B.C. Calls for Energy Storage Innovations

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The B.C. Centre for Innovation and Clean Energy (CICE) and BC Hydro have launched the Call for Energy Storage Innovation, offering up to $3 million in non-dilutive funding for clean energy projects. The initiative aims to accelerate scalable energy storage and grid innovations to support British Columbia’s clean energy future.

Targeting solutions like energy storage, microgrids, and flexible grid management, the program invites proposals from Canadian companies with B.C.-based projects. Applications close February 28, 2025. CICE and BC Hydro seek technologies that enhance affordability, reliability, and resilience in energy systems.

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

Moment Energy Secures USD $15M to Scale EV Battery Storage

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Vancouver-based Moment Energy has secured USD $15 million in Series A funding, co-led by the Amazon Climate Pledge Fund and Voyager Ventures. The funds will accelerate the development of Moment’s battery energy storage systems (BESS) made from retired electric vehicle batteries.

Moment plans to build the world’s first EV battery repurposing gigafactory in the U.S., supported by a USD $20.3 million U.S. Department of Energy grant. CEO Edward Chiang highlighted the company’s role in enhancing grid stability and lithium security. Moment Energy’s affordable second-life batteries support renewable energy and circular economy goals.

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

Balsillie Launches $10M Think Tank for Canada’s Innovation Future

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The Council of Canadian Innovators (CCI) has launched the Canadian Shield Institute, a new think tank funded by a $10-million donation from CCI chair and former BlackBerry co-CEO Jim Balsillie. The institute will focus on economic and defence policy, aiming to strengthen Canada’s innovation sector and protect intellectual property. It will publish reports and host events on energy, infrastructure, technology, and governance.

Balsillie criticized federal policies as inadequate and called for strategies to secure Canada’s economic sovereignty. The institute launches ahead of a likely Conservative election victory, positioning itself as a key player in shaping national policy.

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