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Canadian Tech in 100 Words

Fires, Lawsuits, Losses: Attabotics’ Fall From Grace

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Calgary robotics startup Attabotics, once hailed as a supply chain innovator, has entered bankruptcy protection after raising $200 million and securing clients like Nordstrom and Canadian Tire. The company’s cube-shaped warehouse system, inspired by ant colonies, attracted major investors including Honeywell and Ontario Teachers’ Pension Plan.

But persistent technical failures—including three fires—crippled operations, fueled lawsuits, and strained customer relations. Revenues plunged from $11.4 million in 2022 to $3 million in 2024, while losses ballooned to nearly $50 million. With 192 staff laid off in July, Attabotics is now seeking buyers for its intellectual property.

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Coinbase Launches 4.1% USDC Rewards in Canada

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Coinbase has introduced USDC rewards to Canada, allowing users to earn 4.1 percent annually on their holdings, paid weekly. USDC, a Circle-issued, regulator-approved stablecoin pegged 1:1 to the U.S. dollar, offers a competitive alternative to traditional chequing or savings accounts, where rates often sit at zero.

An Angus Reid survey commissioned by Coinbase found 83 percent of Canadians believe the global financial system needs an overhaul, and 91 percent feel banks prioritize profit over customer success. With Coinbase One, rewards rise to 4.5 percent on balances up to $30,000.

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ecoATM Launches Canada Kiosks With Walmart Partnership

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ecoATM, a global leader in electronics recycling, has entered Canada through a new partnership with Walmart, unveiling 13 kiosks across the Greater Toronto Area. Locations in Mississauga, Brampton, Oakville, and Burlington mark the first phase of expansion. Canadians generate nearly one million tonnes of e-waste annually, a figure projected to reach 1.2 million by 2030.

ecoATM kiosks provide instant cash for recycled devices in under seven minutes, combining diagnostics, ID verification, and real-time market pricing. With 6,500 U.S. kiosks and 50 million devices processed, ecoATM hopes to replicate its impact in Canada.

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Venture Studio and Consulting Firm Join AI Forces

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AXL, a Canadian venture studio focused on turning applied AI research into high-growth companies, has partnered with consulting firm Dillon Consulting Limited. The collaboration aims to co-develop AI solutions that enhance workflows in planning, management, engineering, and environmental science.

Studies show 85% of AI projects in the sector stall due to fragmented data and poor integration. AXL CEO Dr. Daniel Wigdor says the venture bridges Canada’s “go-to-market gap” by using Dillon’s client insights. Dillon CEO Sean Hanlon emphasizes practical AI adoption to deliver measurable value. Together, they join AXL’s AI Catalyst program.

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Cybersecurity Giant Adds AI-Native Security Platform

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Check Point Software Technologies has announced its acquisition of Lakera, a Zurich- and San Francisco-based AI-native security platform for agentic AI applications. The deal positions Check Point to deliver one of the industry’s first end-to-end AI security stacks, combining Lakera’s real-time runtime protection with the Check Point Infinity architecture.

CEO Nadav Zafrir emphasized the growing attack surface created by generative AI, autonomous agents, and multi-agent collaboration. Lakera, founded by former Google and Meta researchers, is known for Lakera Red and Guard solutions and adversarial AI network Gandalf. Its clients include Fortune 500 firms worldwide.

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Damon Motors Shifts Gears With AI Platform

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Vancouver-based Damon Motors, long plagued by delays and share value erosion exceeding 99% since 2024, is seeking revival through software. While its HyperSport bike remains unproduced, the firm unveiled Damon I/O, a machine-learning platform offering track riders contextual insights, performance guidance, and safety recommendations.

CEO Dom Kwong says the technology uses rider behaviour, vehicle data, and environmental inputs to improve lap times and safety. Data points include lean angle, wheel speeds, throttle position, and battery health. Damon hopes this pivot creates a scalable revenue stream while positioning itself as an AI mobility leader.

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Blackline Adds Amazon Bedrock Creator as Director

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Calgary-based Blackline Safety has named Vasi Philomin, Siemens Executive Vice President of Data and AI, to its Board of Directors. Philomin, who created Amazon Bedrock and pioneered connected lighting at Philips, adds expertise in scaling hardware-enabled SaaS platforms.

Blackline, a leader in IoT-enabled safety solutions, recently expanded its Calgary quality assurance program and secured its first Abu Dhabi National Oil Company order. CEO Cody Slater praised Philomin’s alignment with Blackline’s predictive safety and real-time intelligence goals. Fast Company recognized the firm as one of 2025’s most innovative companies for its EXO 8 monitor.

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FeX Energy Advances Iron Reactor with $3.5M Funding

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A Montréal-based startup, FeX Energy, has secured $3.5 million USD ($4.78 million CAD) to advance its iron-based reactor for renewable energy storage. Backed by Houston’s Fathom Fund, Toronto’s Amplify Capital, and Singapore’s Antares Ventures, the September 5 equity round will finance a pilot project in Ontario.

FeX’s shipping-container reactor stores renewable power in iron via thermochemical reactions, releasing versatile high-temperature heat. Target markets include mining, naval shipping, and remote building heating. Founded in 2018 at McGill University, FeX employs seven staff and five contractors. CEO Hayden Smith hopes the technology can cut emissions by 500 million tons annually.

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PCI Compliance Shields Small Businesses From Risk

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A sticky note with a credit card number may seem harmless, but it can spell disaster for a small business. PCI compliance—the Payment Card Industry’s framework of security standards—exists to prevent such breaches.

Helcim, a Level One Service Provider, encrypts data, certifies hardware, and follows strict coding guidelines. Yet merchants share responsibility, from locking up POS devices to training staff. Most only need an annual Self-Assessment Questionnaire, easily completed through processors like Helcim, which provides tools at no extra cost. Compliance builds trust, safeguarding customers and reputations alike.

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

Jetson Air Launches to Halve Heat Pump Costs

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High costs and complicated installations have kept heat pumps from mainstream adoption. Vancouver’s Jetson aims to change that with Jetson Air, a fully integrated smart home platform offering single-day installation at half the price of traditional contractors. Operating in cold climates down to –30°C, Jetson Air integrates with existing ductwork and provides smart features including air-quality sensing, performance alerts, and over-the-air updates.

CEO Stephen Lake, previously co-founder of North, describes the system as “Tesla-like” innovation for homes. Early adopters in B.C., Massachusetts, and Colorado report major savings and emissions cuts, with expansion now underway in New York.

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