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Canadian Tech in 100 Words

Cohere Opens Montréal Hub to Bolster AI Research

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Toronto-based AI startup Cohere is opening a Montréal office to deepen ties with Québec’s AI ecosystem. The company, which develops enterprise AI tools and large-language models, plans to triple its current seven-person Montréal team. CEO Aidan Gomez said the hub will help attract talent and strengthen partnerships with institutions such as Mila, the globally recognized AI research institute.

Cohere recently signed a memorandum of understanding with the federal government and received $240 million to build a Canadian AI data centre, reportedly linking to CoreWeave’s new Cambridge facility. Cohere’s expansion reinforces its focus on Canadian AI leadership and multilingual support.

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D-Wave Secures $400M to Fuel Growth and Acquisitions

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Quantum computing pioneer D-Wave has raised US$400 million through an at-market equity offering in June, selling shares at an average price of US$15.18. The British Columbia-based firm now holds US$815 million in cash, significantly strengthening its balance sheet. CEO Alan Baratz said the funding will support acquisitions and further development of D-Wave’s quantum technologies.

The company, which lost US$143.9 million last year, previously indicated it could achieve profitability with US$304 million on hand at Q1’s end. This marks the fourth capital raise in just over a year, as D-Wave capitalizes on share-price gains to fuel its ambitious growth strategy.

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Wheaton Precious Metals Launches $1M Mining Challenge

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Wheaton Precious Metals has announced the return of its Future of Mining Challenge, offering a $1 million prize for innovative water management technology. Open to ventures worldwide, the 2025/26 competition aims to uncover solutions that improve mining efficiency while reducing environmental impact.

Expressions of interest are due by August 29, with finalists presenting at the PDAC Convention in Toronto next March. This year’s challenge, delivered in partnership with Creative Destruction Lab-Vancouver, builds on Wheaton’s commitment to sustainability. “Constant innovation is essential,” said CEO Randy Smallwood. The initiative seeks to accelerate commercialization of breakthrough water technologies across the global mining sector.

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

Canada’s Top Fintech Startups Vie for $75K Grant

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A $75,000 non-dilutive cash prize awaits Canada’s most promising fintech startup at this year’s Startupfest in Montreal. The Fintech Grant, funded by Digital Commerce Group and Apaylo, will be awarded to one standout early-stage company demonstrating market traction and scalability.

Ten finalists—AML Incubator, AYA Pay, EZO, Kweeqpay, Mantle, Neobanc, Prestar, Ready Plan Go, The Matriarch Company, and WareMatch—will pitch live on July 9. The top five will advance to final deliberations, with the winner announced July 11. Organizers note that 95% of past investment prizes have closed successfully, underscoring the grant’s potential to boost Canada’s fintech ecosystem.

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

Vancouver Startup Helps Cities Track Foot Traffic Anonymously

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Vancouver’s Avenue Intelligence, a BC Tech Awards Startup of the Year finalist, is transforming how cities measure pedestrian activity while safeguarding privacy. The company’s battery-powered sensors, deployable in under 20 minutes, anonymously count foot traffic and feed data into its Avenue Insights platform.

Co-founder Jake McGregor says the system blends counts with contextual information, enabling smarter planning and economic development. Since launching in 2023, Avenue has deployed over 150 sensors across 12 Canadian municipalities and will expand into the U.S. this summer. Supported by NRC IRAP and Innovate BC funding, Avenue exemplifies B.C.’s vibrant startup ecosystem driving smart city innovation.

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    Helcim Showcases Values-Led Engineering Culture

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    Calgary-based fintech Helcim is spotlighting its engineering culture as it expands its team. Anchored by values of ownership, growth mindset, and startup resilience, Helcim’s culture aims to empower engineers to shape products, embrace experimentation, and thrive amid rapid change. “A unified culture is what turns everyone here into a team,” said CTO Brett Popkey.

    Helcim’s platform supports small and medium businesses with modern payment solutions. The company is actively hiring Senior Software Engineers and Engineering Managers, seeking candidates who want to build impactful technology while sustaining a high standard. Helcim’s mission: to become the world’s most loved payments company.

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

    Attabotics Files for Bankruptcy Protection After $200M Burn

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    Calgary-based Attabotics has filed for bankruptcy protection after spending nearly $200 million in funding and laying off most of its workforce, multiple reports indicate. Founded in 2015, Attabotics developed robotic fulfillment systems inspired by ant colonies, aiming to transform warehouse operations for major retailers.

    Despite backing from Export Development Canada and Ontario Teachers’ Pension Plan, the company reportedly burned through millions monthly. Documents circulated online show a June 30 filing under Canada’s Bankruptcy and Insolvency Act, with Richter Inc. named trustee. The filing has yet to appear in federal records. Attabotics has not publicly disclosed plans for restructuring.

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

      Xanadu, Mitsubishi Chemical Partner on Quantum Chip Research

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      Toronto-based Xanadu and Mitsubishi Chemical have announced a partnership to advance semiconductor fabrication using quantum computing. The collaboration will focus on simulating extreme ultraviolet (EUV) lithography, a critical process in producing advanced microchips. As chip features shrink, quantum effects complicate modeling, making conventional simulation techniques inadequate.

      Mitsubishi Chemical will contribute expertise in EUV photoresist materials, while Xanadu designs quantum algorithms to model light-matter interactions. “Using quantum computers to simulate EUV processes offers an exciting path forward,” said Xanadu’s Torin Stetina. The project aims to establish the first practical quantum computing application in semiconductor materials research.

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

      Kardium Secures $250M to Launch Groundbreaking Heart Device

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      Vancouver-based Kardium has closed a US$250 million financing round to advance the commercialization of its Globe System for atrial fibrillation treatment. The oversubscribed round included Janus Henderson Investors, Qatar Investment Authority, MMCAP, Piper Heartland Healthcare Capital, Eventide Asset Management, and Eckuity Capital.

      The Globe System features a 122-electrode array enabling rapid pulmonary vein isolation and high-resolution mapping in a single catheter. CEO Kevin Chaplin said the funding will expand manufacturing, support regulatory approvals, and build a commercial team ahead of launch later this year. Clinical data showed 78% freedom from arrhythmia at one year in paroxysmal AF patients.

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

      Deep Sky Completes World’s First Carbon Removal Centre

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      Canadian developer Deep Sky has completed construction of Deep Sky Alpha, the world’s first carbon removal innovation and commercialization centre. Located in Innisfail, Alberta, the $40 million project was built in less than 12 months—a pace CEO Alex Petre called “unprecedented.”

      Supported by Breakthrough Energy Catalyst, the facility will deploy up to 10 direct air capture systems, targeting 3,000 tonnes of CO2 removal annually. Early buyers include Microsoft and RBC. Engineering was led by BBA, with construction creating over 110 jobs. Commissioning has begun, with commercial operations expected this summer. The site positions Alberta as a carbon removal hub.

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