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Canadian Tech in 100 Words

Wealthsimple Picks Tetra as First Canadian Custodian

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Wealthsimple has named Calgary-based Tetra Trust as its first Canadian digital asset custodian. Wealthsimple, which began offering crypto in 2020 and now supports nearly 100 tokens, praised Tetra’s regulatory approach and domestic infrastructure. “Tetra Trust has a solid track record,” said Blair Wiley, Chief Legal Officer at Wealthsimple.

Tetra, founded in 2019, holds digital assets in cold storage using institutional-grade protection. CEO Didier Lavallée called the move “a significant milestone.” Wealthsimple continues expanding its product lineup and profitability, recently acquiring San Francisco’s Plenty. The partnership signals a deepening of Canada’s financial infrastructure for regulated crypto custody.

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

Google Funds $5M AI Education Push in Canada

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Google Canada is investing $5 million through Google.org to support AI education nationwide. The grant will fund a consortium led by Edmonton-based Amii, uniting 25 Canadian post-secondary institutions to create AI curriculum resources. The goal is to reach 125,000 students across colleges, universities, and Indigenous institutes.

Amii CEO Cam Linke called the initiative a chance to turn Canada’s AI research strengths into widespread literacy. While Canada leads in AI research, adoption lags. A Google report estimates AI could add $230B to the economy and save workers 175 hours annually.

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

Angus Reid Returns in Landmark Market Merger

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Rival Group and Angus Reid Group (ARG) are merging to form Canada’s largest Canadian-owned independent market research company. The $60M enterprise will span six cities across North America, combining ARG, Rival Technologies, and Reach3 Insights under one umbrella. Dr. Angus Reid, returning to commercial research, joins the board.

Co-CEOs Jennifer and Andrew Reid will oversee consulting and tech, respectively, emphasizing integrated services and AI-powered tools. The Vancouver-based group now serves over 500 clients and plans international expansion with a London office. No layoffs are expected in the consolidation.

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

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.