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Canadian Tech in 100 Words

Canada’s Brain Drain: A Crisis Amid Tech Talent Loss

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Canada faces a growing brain drain as talent heads to the US, attracted by higher wages and abundant tech opportunities. Industry leaders blame Justin Trudeau’s leadership for worsening the problem, with Shopify CEO Tobi Lutke and VC Boris Wertz criticizing economic policies that stifled innovation. Both highlight declining business investment and productivity per capita.

Optimism rises as Trudeau’s resignation opens the door to change. Wertz and Lutke see potential for 2025 under Pierre Poilievre’s leadership, urging reforms to rekindle innovation. Solving brain drain will require tackling systemic issues to restore Canada’s tech sector competitiveness.

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

Cohere Launches AI System with RBC as First Client

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Toronto-based AI leader Cohere has unveiled its North platform, allowing businesses to build AI-powered assistants for tasks like research and customer service. North integrates Cohere’s large language models (LLMs) with clients’ systems, offering security-focused AI solutions tailored for business.

RBC, the platform’s first marquee client, will use North for internal staff applications. Cohere touts its superior accuracy compared to Google and Microsoft, emphasizing ease of integration into existing workflows. President Martin Kon aims to demonstrate the potential of AI to corporate Canada, which he has criticized for being slow to adopt advanced technology.

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

Legal-Tech Firm Alexi Introduces Advanced AI for Lawyers

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Toronto-based Alexi is leading legal-tech innovation with its AI platform, designed to simplify litigation and improve client outcomes. Founded in 2017 by Mark Doble, Alexi claims its tools reduce routine tasks by 80%. The newly launched Advanced Legal Reasoning (ALR) platform analyzes complex legal files in minutes, providing insights into case strengths, weaknesses, and strategies.

Lawyers can upload thousands of documents, generate research memos, and ask nuanced questions like, “What’s the weakest part of our claim?” Trusted by firms such as McLeod Law and Stewart McKelvey, Alexi aims to redefine how litigation is managed.

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

Vancouver’s Light AI Aims to Transform Medical Diagnoses

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Vancouver-based Light AI launched on Cboe Canada, trading under ALGO, aiming to revolutionize medical diagnostics. Armed with $20 million in R&D since 2016, its AI algorithms analyze smartphone images to detect Strep A infections, eliminating the need for traditional swabbing. Pre-FDA studies show a 97% accuracy rate, equivalent to swabs.

CEO Peter Whitehead envisions expanding the AI-powered tech to other conditions like skin and eye disorders. Light AI’s 300,000-image pharyngitis database underpins its technology, touted as a step toward a “Digital Clinical Lab” offering rapid, accessible diagnoses.

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

Shakepay Clears Regulatory Hurdle as Investment Dealer

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Montréal-based crypto platform Shakepay is now a CIRO-certified investment dealer, becoming Québec’s first crypto firm to meet this rigorous standard. Customers trading Bitcoin and Ethereum gain CIRO oversight and $1 million CAD insurance coverage for cash via the CIPF, though not for crypto assets.

Shakepay split into Shakepay Inc., focusing on CIRO compliance, and Shakepay Financial, managing cash and payments. Co-founded in 2015, Shakepay pivoted to crypto trading in 2018 and now serves 1.4 million users. Amid growing regulation, Shakepay aims to bolster trust in Canadian crypto markets, positioning Bitcoin as a secure, long-term investment.

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

    Vancouver’s Rising Tech Stars to Watch in 2025

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    Vancouver’s tech industry, now Canada’s third-largest by workforce, continues to shine. Boasting nearly 150,000 tech employees, the city fosters startups excelling in cleantech, AI, and more. Key players include Atome Bakery, revolutionizing artisanal food delivery, and Veritree, advancing reforestation efforts. Other standouts include Defang, simplifying cloud development, and Indiegraf, reviving local journalism.

    Naqi Logix’s neural earbuds and Quandri’s digital workers spotlight innovative AI applications, while Walter transforms corporate legal workflows. SkyAcres excels in sustainable agriculture, TIMEZYX enhances climate adaptation, and MATT3R drives road safety. Together, these startups epitomize Vancouver’s role as a leader in sustainable and technological innovation.

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

    Humi Joins Global Player Employment Hero in $100M Deal

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    Toronto-based Humi, a leading employment platform in Canada, has been acquired by global employment solutions provider Employment Hero in a deal surpassing $100M. The partnership merges Employment Hero’s global Employment Operating System (eOS) with Humi’s expertise in Canada’s unique employment landscape. Together, they aim to deliver an all-in-one payroll, HR, and benefits platform tailored to Canadian SMEs.

    Humi CEO Kevin Kliman called the acquisition a “commitment to our customers,” while Employment Hero CEO Ben Thompson praised Humi’s deep market knowledge. Humi will remain Canadian-operated, continuing to empower local businesses through innovative, localized employment solutions.

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

    Aspect Biosystems Secures USD $115M for Bioprinted Therapies

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    Vancouver’s Aspect Biosystems has raised USD $115 million in Series B funding, advancing its work on bioprinted tissue therapeutics. Led by Dimension and supported by Novo Nordisk, Radical Ventures, InBC, and others, the funding will expand Aspect’s AI-powered bioprinting and therapeutic platform.

    The company aims to deliver cellular medicines for metabolic and endocrine diseases, building on partnerships with Novo Nordisk and Canadian governments. CEO Tamer Mohamed lauded the investor support, while Dimension’s Nan Li called Aspect a leader in regenerative medicine. This milestone cements Aspect’s role in biotech innovation and its pursuit of transformative patient care solutions.

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

    Bench’s Sudden Shutdown Rescued by Employer.com Acquisition

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    Vancouver-based Bench Accounting abruptly shut down on December 27, leaving 12,000 users scrambling during tax season. Within days, HR startup Employer.com acquired Bench, salvaging its operations. Customers now face a choice: stay with the new ownership or seek alternatives.

    Bench’s pre-shutdown struggles included incomplete services and rising fees, frustrating clients like Dov Krausz and Galen King. Employer.com’s swift acquisition saved 250 of Bench’s 450 employees. Former Chief People Officer Jennifer Bouyoukos cited unsustainable cash burn as the closure’s cause. Employer.com vows to stabilize operations, but customers demand proof of reliability under new management.

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

    Neo Financial Faces Scrutiny Over Tencent Investment

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    Neo Financial, a Calgary-based fintech startup, faces intensified scrutiny after Tencent, a reported key investor, was blacklisted by the U.S. Defense Department for alleged links to China’s military. Tencent led Neo’s recent $362-million Series D funding, securing a 10% stake. Neo seeks approval as a payments provider under Canada’s new Retail Payments Activities Act, which includes a national security screen.

    The startup emphasized its Canadian control and client data protections. However, with foreign ownership under scrutiny, Neo’s application could face delays. Tencent denies military ties, calling its blacklisting a “mistake.” Neo serves 1.3 million customers and expects profitability in 2025.

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