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Canadian Tech in 100 Words

Hyperlume Raises $17.8M to Advance AI Data Center Tech

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Hyperlume has secured $17.8 million in an oversubscribed seed round to commercialize its high-bandwidth, low-latency optical interconnects for AI data centers and high-performance computing. Led by BDC’s Deep Tech Venture Fund and ArcTern Ventures, the round also saw participation from Intel Capital, LG Technology Ventures, MUUS Climate Partners, and SOSV.

Hyperlume, founded in 2022 by Mohsen Asad and Hossein Fariborzi, uses ultra-fast microLEDs to improve performance while reducing energy consumption. The company aims to scale production for 800G and 1.6T interconnects to meet growing industry demand as AI workloads surge.

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

CIB Loans $194M for Free EV Charging Expansion

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The Canada Infrastructure Bank (CIB) is lending $194 million to Jolt, an Australia-based EV charging firm, to deploy 1,500 curbside chargers in Canadian cities. Users will receive seven kWh of free daily charging, funded by advertising on the stations. The project supports Canada’s push to build 40,000 public chargers annually to meet its 2035 zero-emissions vehicle target.

Jolt, which entered Canada last year, is partnering with Telus to add Wi-Fi to chargers. CIB has invested $650 million in 5,500 fast chargers. Jolt’s proposal bypassed procurement but will employ Canadian workers for installation.

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

Canadian Tech Leaders Rally to Defend DEI Values

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Over 200 Canadian tech leaders have signed an open letter urging the industry to uphold diversity, equity, and inclusion (DEI) values amid growing opposition. The letter, dated Feb. 23, warns of a shift toward exclusionary policies, citing Shopify’s recent rollback of DEI initiatives and its brief hosting of Kanye West’s swastika T-shirt store.

Signatories include Arlene Dickinson, Erin Bury, Kayla Isabelle, and Amber Mac. The letter also criticizes the influence of elite business leaders on government policy, referencing the Build Canada initiative backed by Shopify’s Tobi Lütke and others.

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

Temu Expands in Canada with Local-to-Local Sales

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China’s e-commerce giant Temu is strengthening its Canadian presence with a new local-to-local model. Launched in Canada in 2023, Temu became the country’s most-downloaded iPhone app in 2024. Now, it will allow Canadian businesses with local inventory to sell directly to Canadian consumers, aiming to improve delivery speeds and expand offerings.

Globally, Temu’s growth is staggering—ranking #2 in Similarweb’s e-commerce rankings, recording 185.6 million U.S. users in August, and surpassing 900 million total downloads by December. The local-to-local model will also roll out in major markets, including the U.S., the U.K., Germany, and Japan.

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

AI-Powered Agents: Salesforce Integrates Google’s Gemini

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Salesforce and Google have expanded their partnership to provide businesses with greater flexibility in deploying AI-powered agents. Salesforce customers can now integrate Google’s Gemini AI models into Agentforce and deploy Salesforce applications on Google Cloud. This builds on their existing collaboration, which enables seamless data sharing between Google BigQuery and Salesforce.

The move comes as businesses struggle to keep up with rapid AI advancements. Google Cloud CEO Thomas Kurian emphasized that mutual customers demanded deeper integration, while Salesforce President Srini Tallapragada highlighted the ability to scale digital labor. Wayfair’s CTO praised the partnership’s potential to enhance customer interactions.

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

Primus Capital Secures Majority Stake in Fintech Firm Reach

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Primus Capital has acquired a majority stake in Calgary-based fintech firm Reach, marking a major investment to support its growth. While financial terms remain undisclosed, Reach CEO Sam Ranieri confirmed that Primus now holds majority ownership. The firm’s 122 employees will remain under the new structure.

This move signals renewed interest in Canada’s fintech sector, which saw record investment of US$9.5 billion in 2024, according to KPMG. Major deals included Nuvei’s US$6.3-billion take-private transaction and Plusgrade’s US$1-billion funding. Reach, which provides international payment solutions, previously secured $30 million in equity and debt in 2022.

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

Trade War Fallout: Rural Canada’s Internet at Risk

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Ontario Premier Doug Ford’s abrupt decision to cancel and then reinstate the province’s Starlink contract highlights the stakes in Canada-U.S. trade tensions. Ford initially announced the cancellation in response to Trump’s proposed tariffs on Canada, only to pause after Trump delayed the tariffs.

While urban areas have broadband alternatives, remote regions heavily depend on Starlink. Data from Speedtest Intelligence shows Starlink adoption in Canada has stabilized, with Nunavut at 40% and other territories following. A cancellation could affect 2 million Canadians, particularly those for whom satellite internet is the only option.

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Shopify Expands BNPL Partnership with Affirm

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Shopify is expanding its buy now, pay later (BNPL) partnership with Affirm beyond the U.S., launching Shop Pay Installments in Canada and soon in the UK. Affirm will serve as Shopify’s exclusive BNPL provider in these markets. Shopify COO Kaz Nejatian called the move a “no-brainer” given the program’s U.S. success.

Canadian merchants can soon offer customers biweekly or monthly payment plans with terms up to 24 months and 0% APR options. Affirm CEO Max Levchin says merchants worldwide are eager for this feature, setting the stage for further global BNPL expansion.

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

Biotech Startup Advances Cytokine Therapies with $17M Boost

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Reverb Therapeutics has raised $17 million in funding to advance its Amplify•R™ platform, which engineers bispecific antibodies to regulate cytokine activity while minimizing toxicity. The round, led by Amplitude Ventures, included Myeloma Investment Fund, KdT Ventures, Finchley Healthcare Ventures, Seido Capital, and InBC Investment Corp.

Reverb’s lead candidate, AMP01, combines PD-1 targeting with IL-15 delivery to enhance T-cell function, demonstrating tumor reduction in preclinical studies. CEO David de Graaf, Ph.D., says the funds will support AMP01’s progression and further cytokine-based programs.

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

Canada’s Telecom Giants Weigh Copper’s Value vs. Theft

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Canada’s telecom companies are sitting on billions in copper, yet theft is rising as they replace old copper networks with fibre-optics. Telus projects $500M from copper recycling over five years, while Bell cites security concerns, with 88% of network break-ins linked to copper theft.

In Hamilton, theft reports nearly tripled from 2022 to 2023. Rogers downplays copper’s value but also faces vandalism. Telcos are pushing for stricter laws, arguing the current penalties fail to deter criminals. With copper demand set to rise, industry leaders warn the problem may worsen without stronger legal protections.

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