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Canadian Tech in 100 Words

Kraken Registered as Dealer Under Canadian Rules

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Kraken has received Restricted Dealer registration from the Ontario Securities Commission, solidifying its position among a select group of crypto exchanges meeting Canada’s investor protection standards. The approval follows a years-long pre-registration undertaking, enhancing Kraken’s governance, compliance, and security protocols.

The exchange also announced Cynthia Del Pozo as its new North America GM, highlighting its growth focus in Canada. Kraken has doubled its Canadian workforce, seen rising monthly users, and now holds over $2 billion in assets under custody. This move follows Coinbase’s registration, signalling Canada’s increasing regulatory clarity in the digital asset space.

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

Kensington Expands Into National Security Tech

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Kensington Capital Partners has acquired the venture capital business of Ottawa-based ONE9, led by JTF2 veteran Glenn Cowan, in a strategic push into National Security technologies. ONE9’s future investment activity will now fall under Kensington, positioning the firm as a market leader in cybersecurity, dual-use, and defense-first tech.

Kensington also took a minority stake in ONE9 Capability Labs, with an option to buy more. Legacy investments remain with the vendors. The two firms previously co-invested in firms like Tomahawk Robotics and Strider Technologies, paving the way for this deeper alliance.

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

Rogers Extends NHL Rights in $7.7B Deal

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Rogers Communications has secured exclusive NHL broadcasting rights in Canada for US$7.7 billion, extending its grip on the league through a new 12-year agreement, according to Sportico and the Associated Press. The deal follows Rogers’ landmark $5.2B acquisition in 2013, which displaced the CBC. The current agreement expires after next season.

Shares fell 6.5% Tuesday, as Rogers contends with growing debt and flat 2025 revenue forecasts. The telecom giant recently spent $4.7B to buy Bell’s stake in Maple Leaf Sports & Entertainment, ensuring Leafs broadcast profits stay in-house rather than aiding a rival.

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

Amazon Invests in Ontario’s Cyclic Materials

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Amazon is backing Cyclic Materials, a Canadian rare-earths recycler, through its Series B round, bolstering efforts to strengthen the critical minerals supply chain. Though terms were undisclosed, the investment will help the Toronto- and Kingston-based startup expand into the U.S. and Europe.

Amazon’s Climate Pledge Fund sees value in reclaiming rare earth elements from devices like hard drives, said fund principal Nick Ellis. Cyclic recovers metals from motors, MRI machines, and wind turbines—key components in a growing clean economy. The move aligns with Amazon Web Services’ $100B AI data centre expansion and U.S. priorities under President Trump.

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

Toronto’s Ribbon Raises $8.2M to Advance AI Hiring

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Toronto-based Ribbon has raised US$8.2 million in seed funding to advance its AI-driven hiring tools, the company announced. The all-equity round was led by Radical Ventures, with follow-on investments from Social Leverage, Cadenza Ventures, and GD1. CEO Arsham Ghahramani says the funds will support new product development and grow the six-person team to 14.

Ribbon’s AI conducts interviews, transcribes conversations, and ranks candidates. Ghahramani claims its proprietary dataset of real interviews makes it superior to tools like OpenAI. Ribbon is also piloting AI agents for scheduling and messaging, aiming to help clients hire within a day.

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

Tiny Acquires Majority Stake in DJ Software Leader Serato

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Victoria-based Tiny, known for acquiring profitable niche tech companies, is entering the music tech sector with a 66% stake in Serato, a globally recognized DJ software firm. The USD $66 million deal, a mix of cash and stock, is set to close in Q2 2025.

Founded over 25 years ago, Auckland-based Serato has $42.4M in annualized revenue—62% of it recurring—and a 34% EBITDA margin. Tiny expects the acquisition to lift recurring revenue by 45% and EBITDA by 30%. Serato’s co-founders and leadership, including CEO Young Ly, will remain in place to steer continued growth.

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

Legal LLMs Could Redefine the Practice of Law

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AI won’t replace lawyers—but legal-specific AI might. That’s the message from Alistair Vigier, CEO of Caseway, who argues the real disruption is coming not from tools like ChatGPT, but from legal LLMs—models trained solely on law.

Caseway is developing what it claims will be the industry’s first legal LLM, capable of understanding binding precedent, drafting enforceable contracts, and transforming legal research. Vigier says traditional AI lacks the depth for serious legal work. With specialized data, a legal LLM could reshape firms’ workflows, reduce costs, and democratize access to law—changing legal practice forever.

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

Alberta Women Founders Raise $116M in 2024

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Alberta’s female founders raised $116 million across 14 funding rounds in 2024, according to new Start Alberta Deal Flow data. These rounds, spotlighted during International Women’s Day, include Calgary-led ventures such as Orpyx Medical Technologies ($20M, Breanne Everett), CruxOCM ($17M, Vicki Knott), and Artificial.Agency ($16M, Alex Kearney).

Startups span health tech, energy, real estate, AI, and pet tech. The funding showcases Alberta’s growing innovation ecosystem, increasingly shaped by women entrepreneurs. Calgary.tech has chronicled many of these founders’ stories—each helping push Alberta to the forefront of Canada’s startup landscape.

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

Canadian Firms Plan Hiring Surge Amid Salary Stagnation

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Morgan McKinley’s 2025 Salary Guide reveals that every Canadian hiring manager surveyed plans to recruit in the next six months, signalling a surge in job activity. Yet, 50% of professionals are actively job-hunting, and salary stagnation remains a key challenge. Half of employers lost candidates over uncompetitive compensation, and 63% of workers feel insecure in their roles.

Although 67% plan to raise pay for hard-to-fill roles, dissatisfaction with benefits persists. Managing Director Ian Kinsella warns employers: adapt to workforce expectations—or risk talent loss in an increasingly competitive hiring environment.

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

Siemens Invests $150M in Canada for Global Battery R&D Hub

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Siemens will invest $150 million over five years to launch a Global AI Manufacturing Technologies R&D Center in Canada, focused on EV and battery production innovation. Headquartered in Oakville with extensions in Toronto and Kitchener-Waterloo, the initiative is expected to create up to 90 high-paying jobs.

The center will develop AI-powered manufacturing tools to improve battery quality, reduce waste, and boost recycling. Federal and provincial leaders hailed the move as proof of confidence in Canada’s EV strategy. The investment includes support from both Ottawa and Queen’s Park, and aligns with Canada’s broader clean energy transition goals.

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