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Canadian Tech in 100 Words

Beacon AI Launches Massive AI Data Centre Project in Alberta

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Alberta’s emergence as a data centre powerhouse is underscored by a new collaboration between Stantec and Beacon AI Centers. Calgary-based engineering powerhouse Stantec has been selected as lead consultant for a sweeping AI data centre development program backed by Nadia Partners.

The project will span six sites across five municipalities and create thousands of construction jobs and 1,200 permanent roles. Beacon’s new CEO, Josh Schertzer, formerly of Blackstone, will lead its rapid scale-up. With Alberta’s energy advantage, low tax rates, and skilled talent, the province is poised to lead in next-generation digital infrastructure.

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

NorthX to Co-Host Climate Innovation Zone at Web Summit

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The B.C. Centre for Innovation and Clean Energy has rebranded as NorthX Climate Tech, signaling a national commitment to advancing climate hard tech. Under CEO Sarah Goodman, NorthX aims to accelerate tangible decarbonization technologies by providing early capital and industrial partnerships.

The group will co-host the Climate Innovation Zone at Web Summit Vancouver, spotlighting women founders, carbon removal, and wildfire tech. Backed by strong provincial leadership, NorthX emphasizes local collaboration and global ambition. Goodman, recently named a BC Business Woman of the Year, calls this a pivotal moment for Canada to lead in cleantech innovation.

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

Verdi Raises $6.5M to Scale Smart Irrigation

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Vancouver-based agtech startup Verdi has raised $6.5 million in an oversubscribed seed round, bringing its total funding to $9.5 million. Led by SVG Ventures with backing from NEC, GenomeBC, and others, the round follows a breakout year where Verdi’s retrofit irrigation tech was deployed on over 5,000 acres.

The platform enables row-level irrigation control and remote leak detection, helping growers cut labor by up to 90%, water use by 70%, and increase yields by 20%. CEO Arthur Chen says the capital will support geographic expansion and AI development. Verdi now employs 24 specialists in AI, agronomy, and hardware.

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

Seasoned Operator Joins Amplify Amid Fund III Push

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Toronto-based Amplify Capital has welcomed Craig Hunter as a partner as it advances toward closing its third impact-focused venture fund. A seasoned tech operator, Hunter brings experience from Uber, Ritual, and Bitmaker, alongside an active angel investing track record.

Amplify Fund III, already 70% raised, will back early-stage cleantech, healthtech, and edtech startups across North America with $1–$3 million cheques. Backed by RBC, Fondaction, and federal programs like VCCI and SFF, the fund has invested in five ventures to date. Hunter aims to help convert hard science into scalable impact through hands-on founder support.

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

Purpose Launches New Core Crypto ETFs

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Toronto-based Purpose Investments has launched two new crypto funds—Purpose Core Bitcoin ETF and Purpose Core Ether ETF—on the Toronto Stock Exchange. Designed for long-term investors, these “core” offerings aim to provide simple, low-fee exposure to Bitcoin and Ether, with the Ether ETF staking up to 50% of its holdings.

Purpose, which pioneered the world’s first spot Bitcoin ETF in 2021, now claims Canada’s most complete digital asset ETF lineup. With $24 billion in assets under management, including $4 billion in crypto, the firm continues to expand access to regulated digital assets.

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

Early-Stage Deals Dip, AI Startups Surge

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Osler has released its Deal Points Report: Venture Capital Financings 2024, analyzing 160 preferred share financings totalling US$3.73 billion. Covering 646 deals since 2020, the report reveals early-stage rounds comprised 76.3% of 2024 financings but only 22.7% of invested dollars.

Series B deals rose, while Series C and later-stage rounds—just 12% of deals—accounted for 54.6% of capital due to mega-rounds. AI and IT companies represented 41.2% of deals and over a quarter of total capital. Ontario, B.C., and Québec dominated activity, while Alberta posted growth, capturing 12.5% of deals.

Want to know more? Check out the source code here.

Svante Opens World’s First Carbon Capture Gigafactory

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Svante has officially opened its Redwood Facility in Burnaby, B.C., the world’s first gigafactory dedicated to commercial-scale carbon capture filter production. The 141,000-square-foot site can produce enough filters to capture 10 million tonnes of CO₂ annually—equivalent to emissions from 27 million cars.

Funded by US$145 million, the plant is backed by Chevron, Temasek, GE Vernova, and others. The MOF-coated filters target sectors like pulp and paper, ethanol, and waste-to-energy. CEO Claude Letourneau called Redwood a historic step toward building infrastructure for a global carbon marketplace.

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

Inside Shopify’s Retreat from Equity Commitments

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Shopify has shuttered its equity-focused programs, ending initiatives that supported Black, Indigenous, and women entrepreneurs. Internal discord began after executive Kaz Nejatian pledged to restore a Sir John A. Macdonald statue, sparking debate over the company’s commitment to inclusion.

Former staff allege that diversity was used as marketing, not mission. Programs like Build Native and Build Black, once heralded, were quietly cut in 2025. Executives now frame DEI work as “virtue signalling.” Staff say the closures came abruptly, erasing support for merchants who brought in real revenue. For some, it marked a cultural turning point—and a political one.

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

StackDX Streamlines Energy Software Portfolio

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Calgary-based StackDX has rebranded its energy sector software products under a single unified identity, marking the company’s third anniversary and the onboarding of its 50th enterprise client. The platform is now used by over 40% of Canadian oil and gas producers by volume to manage documents, integrate data, and automate workflows.

Formed through the merger of Petro Niche Technology and Working Interest, StackDX’s updated offerings include StackDX Maps, Intel, and content management tools. The rebrand reflects a long-term strategy to reduce complexity and support digital transformation in the sector.

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

Canada’s VC Deal Count Hits Five-Year Low

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Canadian startups raised $1.26 billion in Q1 2025, but from just 116 deals—the fewest since early 2020, according to CVCA. Early-stage investment has notably slowed, prompting CEO Kim Furlong to warn of long-term risks to the innovation economy. Venture debt hit $283 million, a record high, as founders seek non-dilutive capital amid tighter equity markets.

Private equity remained steady at $18.2 billion, skewed by GardaWorld’s $14B recapitalization. However, M&A and IPO exits collapsed. Just seven VC-backed exits closed, down from 14 last year. The report links the downturn to trade uncertainty and cautious U.S. acquirers.

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