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Canadian Tech in 100 Words

Canada Growth Fund Commits $50M to Longbow’s Energy Transition Fund

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Canada Growth Fund (CGF) has committed up to $50 million to Longbow Capital’s Energy Transition Fund II, supporting North America’s shift to lower-carbon energy solutions. The Calgary-based private equity firm focuses on technology and services that reduce emissions.

CGF CEO Yannick Beaudoin praised Longbow’s expertise and investment pipeline, marking CGF’s tenth investment since launching in 2023. Managing Director Tyson Birchall highlighted the transformative opportunities in clean energy. Longbow Capital, founded in 1997, manages $1.5 billion in assets, with backers including BDC Capital and TD Bank Group.

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

CEOs Fear AI Knowledge Gaps Could Stifle Growth

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A new Cisco study reveals a paradox: while 80% of CEOs recognize AI’s benefits, 74% fear knowledge gaps will hinder decision-making. 53% worry about losing competitive advantage, yet most are investing in technology, infrastructure, and cybersecurity to close the gap. Cisco’s Jeetu Patel warns, “Companies will either be AI-driven or irrelevant.”

Despite concerns over skills shortages and IT gaps, 96% of CEOs are leaning on trusted partners and technology leaders to navigate AI adoption. Cisco’s research underscores the urgency for businesses to modernize networks and cybersecurity to remain competitive.

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

GTMfund Raises $54M to Back Early-Stage Startups

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GTMfund, a VC firm founded by Max Altschuler, has closed its second fund at $54 million, surpassing its $50 million target. The Vancouver firm specializes in operator-led investing, with 300 LPs from AWS, OpenAI, Procore, and Snowflake, along with six institutional investors such as Bain Capital Ventures and Inovia Capital.

Fund I backed startups like Writer, Atlan, and Vanta, and the latest fund will support 40 early-stage companies at pre-seed to Series A, with check sizes from $500K to $1.5M. Altschuler calls GTMfund a “labor of love” for founders and operators alike.

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

CIX Reveals Canada’s Most Promising Startups for 2025

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The CIX Startup Awards have named their 2025 recipients, highlighting Canada’s most promising emerging tech companies. Selected by over 100 investors, the winners will pitch at the CIX Summit on March 26 in Toronto. Notable fintech recipients include Vancouver’s MyFO, Montreal’s Sibli, and Toronto-based Brim Financial and Float Financial.

Winnipeg’s Conquest Planning also secured recognition after a standout 2024. CIX co-chairs Neha Kera and Matthew Leibowitz praised the winners, calling them leaders in innovation during a challenging year for startups. The Summit is powered by Elevate, a Canadian non-profit driving tech transformation.

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

Alberta’s Energy Resources Attract Major AI Data Centre Projects

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Alberta is positioning itself as Canada’s top AI data centre hub, aiming to secure $100 billion in investment over the next five years. With abundant natural gas, competitive energy prices, and strategic locations, the province is drawing interest from tech firms.

Fort McMurray’s Prairie Creek Business Park, Gryphon Digital Mining in Pincher Creek, and O’Leary Ventures in Grande Prairie are among key projects. Technology Minister Nate Glubish calls Alberta a “destination of choice” for AI infrastructure. As development accelerates, Alberta must balance economic growth with environmental concerns in this fast-evolving sector.

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

Wealthsimple Officially Launches Margin Trading in Canada

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Wealthsimple has officially launched margin trading, allowing eligible clients to borrow funds against their portfolios for greater trading power. Vice President of Product Swapnil Parikh called it a highly requested feature, emphasizing a rigorous approval process and built-in risk management tools like a margin health tracker.

The Toronto-based fintech, led by CEO Michael Katchen, continues its mission to make sophisticated investing products more accessible. Wealthsimple, which is profitable and growing, will also roll out educational materials to ensure clients understand margin trading risks and rewards.

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

Saskatchewan to Host Canada’s First Next-Gen Geothermal Project

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DEEP Earth Energy Production (DEEP) has partnered with SLB to develop Canada’s first large-scale geothermal power project in southeast Saskatchewan. Using advanced horizontal drilling, DEEP plans to generate 30 MW of emissions-free electricity by tapping deep geothermal reservoirs.

SLB will provide expertise in geothermal technology, well construction, and drilling, helping to scale up the project. Phase one includes four wells, expanding to 18 wells in phase two. DEEP CEO Kirsten Marcia says the project will set a new standard for Canada’s geothermal industry, enhancing energy security and reducing emissions.

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

Cybersecurity in 2025: Ransomware, AI, and Social Media Risks

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Cybersecurity threats in 2025 are set to escalate, with ransomware, AI-powered attacks, and deepfake scams posing severe risks to businesses. Ransomware incidents surged in Canada, with 67% of victims paying ransoms in the past three years.

Cybercriminals are leveraging AI to scale attacks, creating highly personalized phishing emails and deepfake impersonations. Social media platforms, particularly LinkedIn, are now prime targets for fraud and identity theft. Experts warn that zero-trust security, AI-driven defenses, and cyber insurance will be essential in mitigating these evolving threats. The time to act is now.

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

IBM Report: Generative AI to Reshape Banking in 2025

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IBM’s 2025 Outlook for Banking and Financial Markets highlights generative AI’s rapid adoption in financial services, with banks moving from pilot projects to enterprise-wide AI integration. The report reveals 60% of banking CEOs recognize the need for calculated risk-taking to stay competitive.

Branchless banking is growing, but institutions are prioritizing higher-value services like embedded finance. IBM’s Shanker Ramamurthy notes banks are leveraging AI for customer experience, efficiency, and risk reduction. The study, analyzing global financial trends, underscores the industry’s ongoing transformation through AI and automation.

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

ENVO Partners with Silicon Valley Firm to Develop Driverless Micro-EVs

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Burnaby-based ENVO Drive Systems has announced a strategic partnership with San Francisco’s Faction Technology to develop driverless light electric vehicles (LEVs) for specialized transport applications.

By integrating ENVO’s Utility Personal Transporter (UPT) platform with Faction’s autonomous technology, the companies aim to create sustainable, adaptable fleet solutions for last-mile delivery, agriculture, and industrial transport.

ENVO CEO Ali Kazemkhani calls this a step toward “rightsizing” mobility, while Faction’s Ain McKendrick sees the collaboration as a breakthrough for autonomous micro-EVs. ENVO, a rising cleantech leader, continues its rapid growth in Canada’s clean transportation sector.

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