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Canadian Tech in 100 Words

Exterra Raises $20M to Reclaim Asbestos Waste

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Montréal cleantech firm Exterra has raised $20 million in Series A funding to scale its technologies for turning asbestos mine waste into valuable materials and carbon storage assets. Backed by Clean Energy Ventures, BDC Capital, and Investissement Québec, Exterra plans to build the world’s largest asbestos tailings mitigation plant by 2027.

Its process extracts minerals like nickel and magnesium oxide, then converts them into carbon-sequestering compounds. With operations planned in Québec’s historic asbestos towns, the project combines industrial reuse, emissions reduction, and economic revitalization. The company’s carbon credits are already spoken for by Frontier Climate and MaRS.

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

AI-First Mandate Leads to Major Layoffs at OpenText

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Kitchener-Waterloo’s OpenText is eliminating 1,600 more jobs as part of its expanded global “business optimization plan,” citing a shift to AI-first operations. CEO Mark Barrenechea described AI adoption as a “baseline expectation,” stating that the company conducted a “deep analysis” of roles that could be replaced by machines.

The total net reduction now stands at 2,000 jobs. OpenText, which employs over 23,000 globally, plans to rehire 1,000 people into high-impact roles with AI capabilities. Executives claim the move will generate up to $550 million USD in annual savings. AI will now influence hiring, performance, and resource allocation decisions.

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

Calgary Lands Canada’s First XPRIZE Hub

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Calgary has been named home to Canada’s first XPRIZE Hub, hosted by the University of Calgary and supported by a $1.5 million investment from the Opportunity Calgary Investment Fund. The hub will serve as a national innovation centre aligned with global counterparts in Glasgow and Geneva.

XPRIZE, renowned for breakthrough competitions in space and climate, will use the Calgary hub to foster Canadian entrepreneurship, research, and collaboration. The four-year agreement aims to support startups, train innovators, and host global events—advancing Calgary’s role as Canada’s innovation capital and deepening its impact on the global stage.

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

Freightera Marks 11 Years with Record Growth

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Vancouver-based Freightera is celebrating its 11th anniversary with record growth and profitability, bucking trends in a struggling logistics sector. In 2024, the online freight marketplace grew revenue by 31.4%, expanded its automated freight division by 35.8%, and increased EBITDA by 270%.

Freightera serves 25,000+ clients, offering fixed-price LTL and truckload booking with emissions tracking powered by SmartWay™ data. Over half its customers reduced freight emissions by more than 20%. With global expansion ahead and only $8 million raised to date, the climate-aligned firm is attracting investor attention.

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

Calgary Fintech Teams Up with TELUS for Fleet Overhaul

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Calgary-based fintech Fillip has partnered with TELUS to launch an integrated fleet management solution combining real-time vehicle insights with digital fuel payments. The partnership links Fillip’s Visa-powered app and universal fleet card—accepted at over 11,000 fuel stations—with TELUS’ Connected Fleet, Telematics & Asset tools.

The offering provides real-time expense tracking, fraud prevention, and vehicle performance monitoring. TELUS estimates businesses can save up to 10 hours monthly on administration and reduce annual costs by 5–10%. Available nationwide, the platform addresses a $53-billion market and offers enhanced control for Canada’s 2.8 million fleet vehicles.

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

Shakepay Joins Payments Canada to Boost Speed, Trust

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Montreal-based Shakepay has joined Payments Canada, advancing its status as a regulated financial entity in Canada. The cryptocurrency-focused fintech, which recently earned securities dealer recognition from the Canadian Investment Regulatory Organization, now gains the ability to apply for direct access to Canada’s core payment infrastructure.

CEO Jean Amiouny said the move will improve speed and efficiency for customers while reducing reliance on third-party systems. Shakepay serves over one million Canadians and offers Bitcoin rewards through its payments card. The company views upcoming Real-Time Rail infrastructure as transformative and is preparing accordingly.

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

Campus Buddy App Connects UCalgary Students

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James Mtendamema, a University of Calgary entrepreneur, has launched Campus Buddy, an app designed to centralize student life by connecting users to campus events, clubs, and a marketplace. Developed through UCalgary’s Hunter Hub programs like Tech Start and Launchpad, Campus Buddy aims to streamline engagement for students and provide businesses with a direct marketing channel.

Co-founded with Jennifer Igwe and Yang Liu, the app customizes feeds based on user interests. Now preparing for Web Summit 2025 in Vancouver, the team hopes to expand its reach.

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

Agrawal Warns Canada’s AI Lead Is at Risk

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Speaking at the KPMG AI Made Real Summit in Vancouver, Ajay Agrawal warned that Canada’s early leadership in AI doesn’t secure future dominance. The economist and author highlighted massive investments abroad—such as the UAE’s $100 billion push—contrasting Canada’s modest $2 billion fund.

Agrawal urged Canadian firms to redesign workflows, not merely adopt AI tools, calling the moment a “between times” in global transformation. He likened AI’s impact to electricity’s industrial revolution and stressed that judgment—not prediction—remains uniquely human. The keynote concluded with a call for urgency, scale, and strategic action to ensure Canada doesn’t fall behind.

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

Ottawa Invests $210M More in IBM Chip Plant

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The federal government is investing an additional $210 million in IBM’s semiconductor packaging plant in Bromont, Quebec. The funding, delivered via the Strategic Innovation Fund, supports new equipment and collaboration with R&D hub C2MI.

IBM is midway through a $1-billion upgrade plan for the site—North America’s largest semiconductor packaging facility—where chips are assembled, cooled, and protected for use. Ottawa previously awarded $59.9 million to the project in 2024. IBM’s expanded capabilities are key to reshoring chip production amid geopolitical uncertainty, with Bromont supporting U.S. fabrication efforts tied to the CHIPS Act.

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

Shopify Limits Dev Exemption to $1M Lifetime Cap

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Shopify is ending its annual $1 million USD revenue-sharing exemption for app developers, introduced during the pandemic to aid small businesses. Going forward, the exemption will apply only to a developer’s first $1 million USD in lifetime revenue. The 15% share remains on earnings above that.

While Shopify says the change ensures fairness, critics argue it penalizes successful developers and hurts morale. Developers took to social media to question the policy’s timing and intent. Shopify stated the funds will support tools and infrastructure for all partners. Earnings before Jan. 1, 2025, will not count toward the new threshold.

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