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Canadian Tech in 100 Words

Alexi Launches Workflow Library for AI-Driven Legal Work

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Toronto legal intelligence firm Alexi has launched a Workflow Library offering customizable AI-driven automations for high-volume legal tasks. The release comes as 63% of lawyers expect AI to play a bigger role in practice. For transactional work, workflows include contract review, diligence memos, and risk assessments; litigation tools span drafting, transcript summarization, and damage analysis.

CEO Mark Doble said the library allows law firms to deliver more value while maintaining professional oversight. Secure deployment ensures sensitive data is protected, with hundreds of additional workflows planned. Alexi aims to boost firm capacity without sacrificing standards.

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

Vancouver’s Variational AI Lands US$349M Merck Deal

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Vancouver’s Variational AI has secured a research deal with pharma giant Merck worth up to US$349 million. The arrangement provides Variational with two drug targets and access to Merck’s proprietary chemistry data, with milestone payments tied to progress. Variational will deploy its Enki AI platform to identify molecules that could form the basis of new medicines.

Founded in 2019, the company has previously partnered with Rakovina and Oncocross, but this marks its most significant global engagement. Merck’s venture arm also backed Variational’s US$5.5-million financing in February. CEO Handol Kim says the company is scaling rapidly.

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

AbaData Taps AI to Transform Pipeline Risk Management

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Calgary-based AbaData is doubling down on energy tech with its acquisition of HUDU Pipelines. Known for land mapping and AI-powered field ops, AbaData now gains HUDU’s pipeline risk management, mobile capture, and automated compliance workflows. “Together, we’ll deliver the most advanced solutions in energy technology,” said CEO Jason Toews.

HUDU President Jeremy Rushton joins the leadership team to guide growth. It’s AbaData’s third deal in under two years, cementing its role as a full-stack partner for energy firms. With AI at its core, AbaData is pushing the sector from reactive fixes to predictive, data-driven operations.

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

Canada-Japan Joint Venture Advances Fusion Innovation

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Fusion Fuel Cycles, a joint venture between Canadian Nuclear Laboratories and Kyoto Fusioneering, has secured a $20-million loan from Japan Bank for International Cooperation and MUFG Bank. The financing will support UNITY-2, described as the world’s first fully integrated fusion fuel cycle facility, advancing tritium technologies critical for commercial fusion.

Founded in 2024, FFC provides end-to-end fuel cycle solutions and represents strengthened cooperation between Canada and Japan in clean energy innovation. Federal and provincial ministers said the project will create jobs, boost advanced manufacturing, and solidify Ontario’s reputation as an energy innovation hub.

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

Backed by Icons, Simple Ventures Expands Startup Creation

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Toronto-based Simple Ventures has raised $15 million to supercharge new company creation in Canada. The venture builder—backed by TD Innovation Partners, Sun Life, Sobeys, and entrepreneurs behind Shopify, Wealthsimple, and Knix—wants to reverse Canada’s founder drain.

Unlike VCs, Simple Ventures co-creates startups, validating ideas and funding them to scale. Its portfolio already includes Alma Care, Harvest, and Zero Collective, which together generated 100 jobs in 18 months. CEO Rachel Zimmer calls it a “call to action” to bring talent home. By 2030, the goal: launch 25 Canadian-headquartered ventures.

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

Osler’s Innovation Lead Talks AI and Legal Operations

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Osler, Hoskin & Harcourt LLP continues to cement its reputation as one of Canada’s most forward-looking law firms. At the centre of its innovation strategy is Natalie Munroe, Chief of Osler Works – Transactional & Legal Operations.

Munroe leads efforts to integrate artificial intelligence into legal workflows, while emphasizing responsible use and rigorous data security. Osler created a legal operations team in 2022, now driving transformation across practice areas. Generative AI has accelerated change, she noted, broadening its reach firm-wide. Training lawyers to pair legal knowledge with technical proficiency is critical as new roles emerge.

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

BDC’s Thrive Fund Backs Women as CEOs Through Acquisitions

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BDC is rethinking entrepreneurship: instead of building companies from scratch, its new $50 million Thrive Fund backs women to buy profitable firms and step in as CEOs. The model, called entrepreneurship through acquisition, targets mid-sized companies earning $1M–$5M annually—many run by retiring owners.

$40M will go to direct investments in women-led acquisitions; $10M will flow through private equity funds committed to female CEOs. Today, only 19% of SMEs are women-owned. “There’s a huge opportunity to rebalance equity,” said Sévrine Labelle of BDC.

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

Mycroft Launches From Stealth With $3.5M Raise

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Toronto startup Mycroft has emerged from stealth with USD $3.5 million in funding, led by Luge Capital with Brightspark and Graphite Ventures among backers. The company positions itself as an AI-powered Security and Compliance Officer for fast-scaling fintechs and startups, replacing spreadsheets and manual processes with a single intelligent platform.

Mycroft’s system monitors infrastructure, secures devices, enforces policies, manages incidents, and prepares audits. Within six months, it signed 50 customers including Levr, Paidiem, and Wisedocs. “Security shouldn’t be a burden—it should be a superpower,” said CEO Mike Kim.

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

Ottawa Quietly Gave Palantir $14.4M Defence Deal

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Palantir’s software has been inside Canada’s defence networks for years. Newly tabled documents show the Department of National Defence quietly signed a $14.4M deal with the U.S. data-mining giant in March 2020. The Gotham platform was used for secure information sharing and analysis, though officials insist Palantir never accessed Canadian data.

Rights groups remain wary: Palantir has faced backlash for U.S. contracts with police and immigration enforcement. Ottawa says non-disclosure was a clerical error. The revelation comes as Palantir profits soar, fuelled by AI demand and government spending.

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

Vancouver’s ShopVision Raises $5.6M to Scale AI Platform

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Vancouver startup ShopVision has raised $5.6 million in seed funding, led by Brightspark Ventures with participation from BDC Capital and Rhino Ventures. Founded in 2024 and launched this April, ShopVision provides an AI-powered platform for brands and retailers, offering competitive intelligence and workflow automation across marketing, merchandising, pricing, and operations.

Early adopters include Herschel, Craft Sports, Men’s Warehouse, and City Beach. Co-founder Harry Chemko, who previously launched Elastic Path, says ShopVision’s technology brings clarity and efficiency to e-commerce teams. Investors believe the company could become a category leader in retail AI.

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