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Canadian Tech in 100 Words

Formic AI Launches Transparent Enterprise Platform in Canada

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Toronto-based Formic AI has launched in Canada with an enterprise platform designed to deliver transparent, verifiable search results for organizations handling sensitive information. Positioned as a Made-in-Canada alternative to opaque AI systems, the platform emphasizes explainability, operational efficiency, and alignment with Canadian governance standards.

Each response includes citations drawn from a company’s own documents, allowing teams to validate accuracy and track data sources. CEO Daniel Escott and co-founder Varun Ranganathan said the goal is to build trust through verification rather than speculation. With a lightweight compute footprint, Formic AI targets regulated sectors where accuracy and provenance are essential.

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

d1g1t Revamps Platform with Faster, Scalable Architecture

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Toronto-based d1g1t has unveiled a major upgrade to its enterprise wealth management platform, rebuilding its core data and processing layers to boost speed, scalability, and reliability. The redesigned back-end engine accelerates reporting, rebalancing, and billing, supporting millions of accounts without performance loss.

Enhanced security management now links research documents to individual securities. Advisors gain new analytics, client-event tracking, and expanded security profiles, while portfolio teams receive upgraded cash and trade tools, including enhanced UMA functionality. CEO Dan Rosen said the improvements free advisors to focus on client relationships as digital expectations rise.

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

MDA Space Posts Strong Q3 Despite Lost EchoStar Contract

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MDA Space remains optimistic about fiscal 2025 despite losing a $1.8-billion EchoStar contract after SpaceX purchased the company’s spectrum assets. The Brampton firm posted strong third-quarter results, reporting $409.8 million in revenue—up 45% year-over-year—driven largely by satellite systems, which earned $283.5 million.

Gross profit rose 43% to $108.1 million, and shares climbed eight percent after earnings, though the stock remains down nearly 20% this year. CEO Mike Greenley said over half of MDA’s $20-billion opportunity pipeline involves satellite constellations. MDA also invested $10 million in Maritime Launch to strengthen Canada’s space ecosystem.

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

NorthX Invests $1M to Advance BC Industrial Decarbonization

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NorthX Climate Tech is expanding its support for industrial decarbonization in British Columbia, announcing $1 million in non-dilutive funding for Vertogen Technologies and Rockburst Technology. The investments target emissions-heavy sectors such as waste, mining, and heavy industry. Vertogen aims to cut biogas production timelines by up to 90%, reducing processing from more than 20 days to less than two.

Rockburst’s CoreBurst platform uses pressurized CO₂ to fracture rock, potentially halving mining energy use while storing carbon permanently. NorthX has invested $46 million across 74 projects, unlocking significant private capital. Officials say early investment accelerates BC’s clean-economy growth.

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

CereCura Advances LNP-RNA Approach to Treat Brain Disease

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Vancouver-based CereCura Nanotherapeutics is pursuing a new approach to treating neurological disorders using lipid nanoparticle RNA technology, the same platform behind leading COVID-19 vaccines.

Spun out of the University of British Columbia, the pre-clinical startup recently secured $1.4 million in seed funding—led by WUTIF Capital and supported by eFund, UBC Venture Funds, angels, and Hextwo Capital—to validate its lead drug candidate in rodents and later larger animals. Co-founded by LNP pioneer Pieter Cullis and CEO Louis-Philippe Bernier, the company has already shown successful protein delivery to rodent brains, addressing the long-standing barrier posed by the blood-brain barrier.

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

Budget 2025 Pushes Canada Toward AI Leadership

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Canada’s 2025 federal budget sets out an ambitious plan to position the country as a leader in artificial intelligence, underscoring AI’s growing economic and social influence. The measures include $925 million over five years for sovereign compute capacity and a new government-developed AI tool created with Canadian firms to strengthen digital sovereignty.

Yet concerns remain. EY’s Responsible AI Pulse Survey shows companies face significant AI-related financial risks, averaging $6.2 million in damages, despite governance progress. Workforce readiness also lags, with only 32 percent preparing for AI-human integration. Canada’s leadership now depends on bold governance and training efforts.

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

Calgary Reclaims Western Canada’s Top VC Position

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Calgary has solidified its status as a national innovation hub, ranking third in Canada for venture capital investment with $341 million across 43 deals, according to new CVCA data. While investment levels dipped from 2024, Calgary surpassed Vancouver to reclaim the top position in Western Canada.

Calgary Economic Development CEO Brad Parry said the city’s momentum reflects years of strategic planning. Alberta recorded 58 deals—its highest national share in recent years—with cleantech leading the surge. Eavor Technologies’ $89-million raise ranked among Canada’s largest. With most provincial VC dollars flowing through Calgary, the city remains Alberta’s innovation engine.

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

Visualping Rolls Out AI Upgrade to Cut Digital Noise

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Vancouver-based Visualping has introduced a significant upgrade to its website monitoring platform, unveiling an AI suite intended to curb information overload and improve user focus. Long used by researchers, journalists, analysts, and e-commerce teams, the service now filters out irrelevant website updates and delivers alerts only when user-defined conditions are met.

CEO Serge Salager said the goal is to simplify digital monitoring rather than add noise. New capabilities include natural-language prompts, AI summaries, OCR for visual changes, structured data extraction, and access to premium AI models. The system aims to provide precise intelligence from an ever-changing web.

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

Desjardins Launches Cancer Care Initiative for Personalized Treatment

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With nearly 45% of Canadians expected to face cancer in their lifetime, Desjardins Insurance has launched Cancer Care Focus, a new initiative aimed at simplifying access to personalized support. The program partners with Calgary-born OncoHelix, Ottawa’s Constant Health, and New York–based Sword Health.

Desjardins will offer coverage for OncoHelix’s advanced biomarker testing, which helps identify tumour mutations and guide targeted therapies. Product Director Dr. Neda Nasseri says the goal is to meet members’ physical, emotional, and financial needs while improving early detection. Founded in 1900, Desjardins remains North America’s largest cooperative financial group.

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

Top Down Ventures Defines Managed AI as New Asset Class

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Vancouver-based venture capital firm Top Down Ventures has released The State of MSP Capital in the Age of AI, a 67-page report prepared for its Top Down Horizons MSP Investor Summit. The study analyzes how artificial intelligence, governance, and capital efficiency are transforming the global managed services market, forecast to reach US$950 billion by 2030.

“AI is transforming providers from maintenance partners into intelligence partners,” said Managing Partner Joel Abramson. The report identifies a new “Next-Gen MSP” era driven by automation, operational intelligence, and data transparency. It positions Managed AI as a new asset class for investors.

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