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Canadian Tech in 100 Words

Moonvalley Goes Big on Legal AI Video

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Moonvalley’s message is clear: AI doesn’t have to break the rules. The Toronto-based startup just raised $84M USD more to scale Marey, its AI video model built only on licensed footage. CAA, CoreWeave, and Comcast Ventures joined General Catalyst in the round, citing the company’s artist-first approach.

Marey gives filmmakers tools like motion transfer, 3D camera control, and promptable scenes—without the legal gray zones. Co-founders Naeem Talukdar and John Thomas are betting on ethical AI, not shortcuts. With $154M in total funding and rising demand, Moonvalley is racing to prove AI can empower creators without compromise.

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

Ready Plan Go Takes Startupfest by Storm

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Ready Plan Go just walked away from Startupfest 2025 with $175K in hand and a lot of momentum. The Montréal startup, led by Nima Jalalvandi, scored the $75K FinTech grant and the $100K 2SLGBTQIA+ Prize for its AI-driven accounting platform aimed at helping small businesses stay ahead financially.

Jalalvandi gave an emotional shoutout to inclusive spaces for queer founders during his acceptance speech. Backed by two equity-free wins, Ready Plan Go is now primed to scale fast. Smart tech, inclusive values, and big recognition—this startup’s trajectory just changed.

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

Toronto’s Asepha Raises $4M for AI Pharmacy Tech

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Toronto-based AI pharmacy startup Asepha has raised US$4 million in a funding round co-led by Glasswing Ventures and Core Innovation Capital. Additional backers include Montreal’s Panache Ventures, Redbud, MGV, Ripple Ventures, and Front Row Ventures.

Co-founded by pharmacist Eunice Wu, Asepha automates pharmacy tasks like processing handwritten prescriptions and administrative work using AI agents. The startup plans to use the capital to grow its international presence and open a New York office. Asepha has already secured partnerships with multiple Fortune 50 companies, positioning itself as a leader in the growing field of pharmacy automation.

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

Two Vancouver Startups Win Big at Startupfest

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Vancouver startups Tydra Laboratories and Tree Track emerged as top winners at Startupfest 2025 in Montréal, where over $1 million in funding was awarded. Tydra Labs secured the $100,000 Women in Tech Prize from The Firehood for its sustainable method of extracting chitin from shellfish waste using seawater and bacteria.

Tree Track earned a surprise $50,000 Impact Investment for its seedpod technology designed to improve reforestation success rates. Both companies reflect British Columbia’s growing strength in climate innovation. Hosted annually, Startupfest is Canada’s premier startup event and this year emphasized diversity and environmental impact across its awards.

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

AI Startup Surge Forces VC Rethink

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The rise of AI application startups like Anysphere and Lovable Labs is reshaping how venture capitalists evaluate new companies, say investors at Montreal’s Startupfest. Some AI firms are reaching $100 million in revenue within months, pushing up benchmarks and limiting opportunities for new entrants.

Toronto-based Georgian is revising its assessment model, while VCs caution that pilot sales may not yield lasting revenue. AI enables startups to grow quickly with lean teams, data shows, but investors warn of a potential bubble. Still, most agree this technological wave will produce a few outsized winners amid the noise.

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

Interac to Adopt Flat E-Transfer Fee by November

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Interac will introduce a flat wholesale fee of 4 to 8 cents per e-transfer by November 1, replacing its current volume-based pricing model that charged financial institutions between 6 and 43 cents per transaction. The Competition Bureau, which launched an investigation following a 2024 parliamentary hearing, says it will monitor the rollout.

Critics argued the prior system disadvantaged smaller banks and credit unions. The Bureau welcomed the change, noting it could level the playing field and foster innovation. Interac’s e-transfer system is one of Canada’s most widely used digital payment tools for sending, receiving, and requesting money.

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

Helcim Unveils Smart Terminal for Modern Merchants

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Calgary-based fintech Helcim has launched its Smart Terminal, a mobile, all-in-one payment device tailored for modern business needs. Designed with merchant input, the terminal features a 6.7-inch HD+ screen, octa-core processor, built-in 4G/Wi-Fi, a 12-hour battery, and a high-speed receipt printer.

The Smart Terminal also connects to Helcim’s full business suite—inventory, invoicing, customer tools, and more. CEO Nic Beique emphasized the goal of delivering reliability and support in critical moments. With transparent pricing and no long-term contracts, the terminal starts at $32 USD monthly. The device is now available for shipping across North America.

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

Cobionix Raises $3M to Launch Medical Robot

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Cobionix, a Kitchener-Waterloo robotics firm, has raised $3 million USD in strategic equity funding to bring its collaborative medical robot, CODI, to market. Led by TitletownTech—with backing from Microsoft and the Green Bay Packers—the round also included Lions Investment, Dr. Paul McBeth, and returning investors.

CODI enables remote ultrasound procedures and will launch hospital pilots in Canada, the U.S., and the U.K. this August. Cobionix also plans to expand CODI’s role to hospital logistics. Founded in 2021, the startup taps top Canadian engineering talent and aims for a U.S. rollout by 2026.

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

Startup Studio Midas Labs Quietly Makes a Mark

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Calgary’s Midas Labs has emerged as a quiet force in Canadian fintech, evolving from the fractional investing startup Flahmingo into a venture studio focused on AI-powered tools for social impact. Founded by former Flahmingo leaders, the distributed team recently built Mariposa, Canada’s first AI debt management agent, in partnership with Credit Canada.

With rising household debt, Mariposa offers 24/7 judgment-free support. Midas Labs exemplifies the venture studio model, balancing client work and in-house innovation. CEO Thomas Battle says the pivot underscores the value of people over product—proof that resilience and impact can thrive outside the typical startup spotlight.

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

Leadership Change at EQ Bank After Andrew Moor’s Passing

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EQ Bank will welcome back Chadwick Westlake as its new CEO following the sudden passing of longtime leader Andrew Moor. Westlake, currently EVP and CFO at OpenText, will rejoin EQ Bank on August 15 after completing OpenText’s fiscal year-end. A former EQ executive, Westlake’s appointment marks a return to familiar territory as the bank navigates a major transition.

Moor, remembered for modernizing EQ Bank and advancing Canada’s challenger bank movement, leaves a lasting legacy in fintech. OpenText has initiated a formal search for Westlake’s successor and expressed condolences to Moor’s family and colleagues in a public statement.

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