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Canadian Tech in 100 Words

Canadian Cleantechs Unite to Cut Plastic Waste

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Nova Scotia’s Sustane Technologies and Quebec’s Pyrovac Inc. have formed a long-term strategic alliance to scale plastic recycling using Canadian cleantech. The $7-million deal includes a two-reactor upgrade at Sustane’s Chester facility and grants Sustane exclusive rights to Pyrovac’s plastic-processing technology.

This marks Pyrovac’s first commercial deployment of its advanced reactor system, developed over 30 years. Sustane CEO Peter Vinall called the partnership “a foundation for global expansion.” Pyrovac founder Christian Roy said the alliance aligns technological vision with operational scale. The agreement positions both firms at the forefront of Canada’s circular economy ambitions.

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Toronto Fintech Keep Debuts With $108M Funding

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Toronto-based fintech Keep has emerged from stealth with $108 million in backing to reshape small business banking in Canada. Founded in 2022 by Oliver Takach, Keep offers a unified platform combining no-fee global banking, automated expenses, and rewards-based credit cards.

The startup secured $33 million in equity from Tribe Capital, a $71 million credit facility from Coventure, and $4 million in venture debt from Silicon Valley Bank. With $20 million in annualized revenue in 2024, Keep aims to support 100,000 businesses by 2027. Takach says the platform solves long-standing inefficiencies in Canadian banking.

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

CO280 Lands Major CDR Deal with JPMorgan

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Vancouver’s CO280 has signed a 13-year carbon removal agreement with JPMorganChase, under which the bank will purchase 450,000 metric tons of CO₂ at under $200 per ton—one of the lowest prices for engineered carbon removal to date. The project captures biogenic emissions from a U.S. Gulf Coast pulp mill retrofitted with SLB Capturi’s technology.

This follows CO280’s major deal with Microsoft last month. CO280’s model, focused on repurposing industrial infrastructure, positions it as a leader in cost-effective, scalable CDR solutions. JPMorgan’s early backing signals rising corporate interest in verifiable, high-quality carbon removal.

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

Calgary Named Fastest-Growing Tech Hub in Canada

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Calgary has emerged as Canada’s fastest-growing startup ecosystem, jumping 15 spots to rank 92nd globally in the 2025 Global Startup Ecosystem Index. Now ranked fifth in Canada, it added $8.1 billion in value from 2021 to 2023, an 83% increase.

This growth, driven by talent influx and support from groups like Platform Calgary, outpaces global trends. Startups such as Arbor and Bidaya exemplify its momentum. With the launch of Canada’s first XPRIZE Hub and emphasis on cleantech, Calgary is poised for further ascent.

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

Cohere Acquires Vancouver’s Ottogrid to Boost AI Research Tool

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Vancouver-based Ottogrid, a developer of AI tools for automating enterprise market research, has been acquired by Cohere. Founded in 2023 as Cognosys by Sully Omar and Homam Malkawi, Ottogrid rebranded in 2024 after a major product overhaul. Its current platform offers a table-based interface with AI-powered document parsing and sales lead enrichment.

Backed by GV, Untapped Capital, and Cohere co-founders, Ottogrid raised $2 million prior to acquisition. The team will now integrate its technology into North, Cohere’s generative AI product for enterprise research and knowledge work.

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

Coinbase Backs Canadian Dollar Stablecoin

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Toronto-based Stablecorp has raised $2.5 million in strategic capital to upgrade QCAD, its Canadian dollar-denominated stablecoin. The round was led by Coinbase Ventures and Side Door Ventures. Funds will support QCAD’s infrastructure overhaul, including independent reserves, transparent reporting, and new payment and FX integrations.

QCAD will be backed by a dedicated trust and offer direct redemption to Qualified Holders. With stablecoins processing $30 trillion globally last year, Stablecorp aims to digitize Canadian commerce. President Alex McDougall called stablecoins “financial superconductor[s],” while Coinbase Canada CEO Lucas Matheson said Canada must modernize its digital currency infrastructure.

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

Made-in-Canada Cement Disrupts Imports

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Calgary’s ZS2 Technologies has launched its second-generation magnesium cement platform, offering a fire-resistant, low-carbon alternative to traditional gypsum, OSB, and imported MgO. Backed by $9.9 million in grant funding and third-party certifications, the Gen 2 product line uses Canadian industrial by-products to reduce emissions and supply chain risks.

Highlighted by ZS2TechTile™, a new raised flooring system rated non-combustible, the platform targets data centres and modular builds. CEO Scott Jenkins says builders are ready for local, reliable, and sustainable options. Already spec’d into projects, Gen 2 positions ZS2 as a cleantech leader.

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

Former OMERS Exec Exits High-Profile Cleantech Venture

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Damien Steel has stepped down as CEO of Deep Sky, the Quebec-based carbon removal startup founded by Hopper CEO Frederic Lalonde. Steel, previously managing partner at OMERS Ventures, joined Deep Sky in August 2023. In a LinkedIn post, he cited personal reasons, stating he could no longer give the role his full energy.

Chief operating officer Alex Petre will take over. Deep Sky focuses on direct-air and ocean-based carbon capture. Last year, it secured major deals with RBC and Microsoft, and a US$40 million grant from Breakthrough Energy. Questions remain about the scalability of its technology.

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

American Investors Still Dominate Canadian Startup Deals

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Despite rising economic tensions, U.S. investors participated in 80% of Canadian venture capital deals in Q1 2025, backing 86 transactions worth US$800 million, according to PitchBook. American firms led nearly half of total deal value. While Canadian backers talk of preserving domestic startup ownership, they’re often outbid on valuations and terms.

Experts including C100’s Michael Buhr warn this reliance threatens long-term ecosystem growth. With tariffs and political friction looming, some Canadian founders are reevaluating foreign capital. Still, investors like Panache Ventures admit U.S. players dominate top-tier rounds. Domestic firms are being urged to lead—before others do.

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

Vancouver Startup Aims to Simplify Creator Marketing

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Vancouver startup Endlss has launched its flagship AI platform, Endlss Copilot, to streamline influencer marketing for lean brand teams. Founded by the creators of Penny AI, Endlss addresses rising costs and capacity issues in scaling creator partnerships. Its all-in-one platform manages discovery, outreach, gifting, coordination, and analytics.

Features include AI-personalized messaging and “Smarter Links” for precise attribution. Early users like DTC brand No Rivals praise its intuitive design and time-saving tools. CEO David Abbey says the platform aims to help brands turn influencer activity into real commerce at scale.

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