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Canadian Tech in 100 Words

PolicyMe Raises $30M to Expand Digital Insurance

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Toronto-based digital insurance platform PolicyMe has raised $30 million in equity and debt financing to fuel national expansion and new product launches. Backed by Blue Cross Life and Securian Canada, the funding brings PolicyMe’s total capital raised to $51 million.

The firm has introduced health and dental insurance to support underinsured gig workers and powers white-labeled digital products for major partners. Since its 2022 Series A, PolicyMe has tripled its workforce, issued over $10 billion in coverage, and grown premium sales 5.5x. The company plans to invest in AI and infrastructure to streamline underwriting and digital access.

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

FireSwarm Partners to Tackle B.C. Wildfires with Drones

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In 2024, wildfires scorched one million hectares across British Columbia, prompting evacuations for over 15,000 properties. To combat this growing crisis, Squamish-based FireSwarm Solutions is developing AI-powered drone swarms for wildfire mitigation. This month, FireSwarm partnered with Strategic Natural Resource Group, the largest Indigenous-owned resource consultancy in Western Canada.

The collaboration aims to strengthen early attack capabilities, especially during remote and nighttime operations. “This is a generational leap in safety,” said Strategic CEO Domenico Iannidinardo. FireSwarm’s autonomous, heavy-lift drones could soon become a standard firefighting tool in hard-to-access zones.

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

Cohere Launches Multimodal AI for Enterprise Search

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oronto-based AI company Cohere has launched Embed 4, a new multimodal search model capable of interpreting text, PDFs, graphs, and other visual formats across more than 100 languages. Designed for enterprise use, Embed 4 outperforms OpenAI’s top embedding model in multilingual tasks and excels in sectors like finance, healthcare, and manufacturing.

Cohere’s business-facing focus contrasts with consumer models, emphasizing real-world decision support over image generation. “Most businesses don’t need more pictures of cats,” said co-founder Nick Frosst. The model has been optimized for performance in languages such as Japanese, Arabic, and French.

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

Deepfake Scam Targets Mark Carney on Facebook

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Facebook is facing a surge of deepfake videos and fake news reports targeting Canadian political figures, including former Bank of Canada Governor Mark Carney. A network of over 25 accounts, many with Canadian-themed identities, has circulated ads linking to fraudulent articles featuring Carney, Elon Musk, and local news anchors.

The campaign emerges as Facebook continues to block legitimate news in Canada, creating a vacuum exploited by scammers. A digital literacy coalition reports that 25% of Canadians recently encountered misleading content imitating real news outlets. The incident raises growing concerns ahead of the federal election.

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

Toronto Tech Week Unveils Star-Packed Speaker Lineup

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Toronto Tech Week has unveiled its inaugural program and headline speakers, with over 100 events planned from June 23–27. The marquee event, Homecoming, will feature Chamath Palihapitiya (Social Capital), Sanja Fidler (NVIDIA), and Shopify’s Tobi Lütke and Harley Finkelstein, alongside Waabi’s Raquel Urtasun and Cohere’s Aidan Gomez.

Held at Evergreen Brickworks on June 24, Homecoming celebrates Canada’s rising global tech profile. Nearly 50% of events will be publicly accessible across 19 neighbourhoods. With support from Shopify, Google Cloud, and the City of Toronto, the week aims to spotlight innovation and community building in Canada’s tech capital.

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

Made-in-Canada ALTA Platform Targets Hospital Workflow Pain

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Toronto-based Able Innovations is piloting its automated patient transfer device, the ALTA Platform®, at five major Canadian hospitals from Halifax to Vancouver. Designed to reduce strain on frontline healthcare workers, the ALTA replaces manual transfers, which often require up to eight staff and contribute to $20B in healthcare costs.

CEO Jayiesh Singh said the technology, developed with support from FedDev Ontario, NRC-IRAP, and others, aims to restore dignity to patients and reduce caregiver injury. Evaluations at Bruyère Health and St. Joseph’s Health Care London are supported by organizations including CABHI, CAN Health Network, AGE-WELL, and OBIO.

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

Xaba Raises $6M to Advance AI for Industrial Robots

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Toronto-based Xaba has secured $8 million in seed extension financing to advance its AI-driven control systems for industrial robots. The round was led by Hitachi Ventures, with participation from Hazelview Ventures, BDC Capital, Exposition Ventures, and Impact Venture Capital.

Xaba’s software, xCognition and PLCfy, enables natural language commands and self-awareness in robots, enhancing efficiency in tasks like welding, casting, and 3D printing. CEO Massimiliano Moruzzi says the system gives robots “synthetic brains.” With clients in North America and Europe, Xaba aims to boost Canadian manufacturing by reshoring production and bridging the skilled labour gap in industrial automation.

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

Victoria Startup’s Wearable Targets Senior Wellness

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Victoria startup Salyx Medical is gaining attention for its wearable device designed to improve senior care through real-time health monitoring. Founded in 2021, Salyx’s patent-pending device tracks vital signs such as heart rate, oxygen levels, and blood pressure, transmitting data to a connected mobile app.

The device aims to assist both healthcare providers and loved ones with timely alerts. Recently named one of Douglas magazine’s “10 to Watch” for 2025, Salyx is emerging as a standout in Vancouver Island’s growing tech ecosystem. The company was founded by CEO Sergio Pérez, Fabian de la Fuente, and Mario Solis.

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

Vancouver’s CO280 Strikes Landmark CDR Deal with Microsoft

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Vancouver-based CO280 has announced a landmark agreement with Microsoft for one of the largest engineered carbon dioxide removal (CDR) purchases to date. Under the deal, Microsoft will buy 3.685 million tonnes of CDR over 12 years from a U.S. pulp and paper mill project. CO280 will retrofit the mill to capture biogenic CO2 emissions for permanent geological storage using SLB Capturi technology.

CEO Jonathan Rhone called the deal a milestone for CO280 and the broader CDR market. The company, backed by B.C.’s Centre for Innovation and Clean Energy, is currently developing over 10 projects across North America.

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

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.