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Canadian Tech in 100 Words

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.

Alberta Startup Brings Transparency to Condo Purchases

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Calgary startup CondoScan aims to spare buyers late-stage surprises in condominium purchases. Founded by Ewan May and Nyle MacLeod, the firm delivers AI-assisted reviews of bylaws, financial statements, and reserve fund studies, producing clear, source-linked reports. While building automation, CondoScan relies on human validation to ensure accuracy.

Active in Calgary and Edmonton, with interest from Manitoba, the company highlights cases where reviews revealed costly assessments or restrictive bylaws. Alberta’s unique reliance on third-party document reviewers creates a ready market. The team plans methodical expansion across the Prairies before tackling other provinces.

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

Fintech Startup Aims to Tackle Affordability With Rewards

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Toronto-based fintech Quarters has launched a rewards program aimed at helping Canadians save toward housing costs. Founded in 2024 by Romir Joshi, Jonathon Barbaro, and Tamur Shah, the platform links users’ debit or credit accounts, offering 1% rewards on purchases in addition to standard card programs.

Unlike traditional loyalty schemes emphasizing flights or gift cards, Quarters applies savings directly toward housing affordability. The startup also partners with local businesses to provide customer incentives and works with property managers, rewarding renters for on-time payments. Quarters’ founders describe the company as a movement addressing affordability challenges.

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

Floorspace Acquires AnthemIQ to Bolster Digital Leasing

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Vancouver-based Floorspace has acquired the technology and brand assets of AnthemIQ, a digital leasing platform developed in Austin. The move positions Floorspace to shift from a services model to a product-led brokerage. By integrating AnthemIQ’s client-facing interface with its existing back-end, Floorspace aims to provide brokers continuity while delivering tenants portfolio-level visibility.

Co-founders Matt and Lindsay Carlson emphasize seamless adoption: every broker action must yield clear value. AnthemIQ raised $10M during the pandemic, but stalled amid market uncertainty. Floorspace now intends to turn its pragmatic workflow-first strategy into long-term advantage.

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

Wattpad Founders Give $2M to U of T Entrepreneurs

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The University of Toronto has received a $2-million donation from Eva and Allen Lau, the entrepreneurs behind Wattpad, to fund new technology prizes. Two annual awards of $80,000 each—matched by the university—will support researchers developing projects in semiconductors, AI, robotics and quantum computing.

The Laus, both U of T alumni, said the gift reflects their desire to give back to their alma mater while helping innovators bridge the gap between research and commercialization. The funding will allow researchers to test ideas, attract investment, and scale ventures into market-ready companies.

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