White Star Capital has closed its fourth global VC fund at $350 million CAD, as the firm hopes to continue delivering strong returns amid a tough fundraising landscape for Canadian VCs. “We’re seeing an interesting new trade route that is being developed for Canadian companies and for North America.” Eric Martineau-Fortin,White Star Capital The global…
Shopify says it beat revenue expectations and boosted free cash flow margin in its second-quarter earnings, as the e-commerce company forecasts continued growth on increased demand for AI-driven shopping. On Wednesday, the Ottawa-founded e-commerce giant released its latest financial results, which show growing revenue by 34 percent year-over-year to reach $3.58 billion USD ($5 billion…
BY THE OPTIMIST DAILY EDITORIAL TEAM Czech researchers at the University of Chemistry and Technology in Prague are building titanium joint implants with a porous internal structure designed to hold medication and release it gradually after surgery. The project is a collaboration with surgeons at Motol University Hospital. The implants use laser powder bed fusion:…
BY THE OPTIMIST DAILY EDITORIAL TEAM A study published in Nature provides the first experimental evidence that inherited genetics shape not just whether cancer starts, but how it evolves once it does. Researchers led by Duncan Odom at the CRUK Cambridge Institute exposed four genetically distinct strains of mice to identical doses of diethylnitrosamine, a…
University of Toronto associate professor Sanja Fidler is leaving her role as Nvidia’s VP of AI research after eight years at the world’s most valuable company. The news: Fidler announced her departure from Nvidia in a LinkedIn post on Friday. Fidler, who specializes in computer vision, joined Nvidia as its director of AI at the…
Vancouver-based AI infrastructure company Intellistake has agreed to acquire Dallas-based NanoAi Technologies, which makes air screening devices with a variety of applications. The news: Intellistake will issue $17 million CAD worth of stock to purchase NanoAi, the company announced on Tuesday. The stock will be issued based on performance milestones related to NanoAi’s future revenue…
It is an immutable law of entrepreneurship that more startups fail than succeed. That’s both a warning and the price of admission for any founder. But it’s not fate, either. And knowing why most startups fail can be helpful in ensuring your startup succeeds. “There has never been a more exciting time to found and…
A Winnipeg data intelligence firm is partnering with Canadian Manufacturers and Exporters (CME) to launch a Prairies-wide program supporting AI integration in the aviation, aerospace, and defence industries. The news: Mode40, which specializes in bringing AI-enabled systems into industrial manufacturing, announced today a partnership with CME to launch what it’s calling the AeroTrace initiative. AeroTrace…
Sherbrooke, Que.-based Calogy Solutions has been selected by Jaunt Air Mobility Canada to design the battery system for the aerospace firm’s next-generation autonomous drone. In an interview with BetaKit, Calogy co-founder and CEO Mahmood Shirazy said the $1.2-million CAD contract demonstrates “clear product-market fit” for the cleantech startup’s batteries and its patented Uni T thermal…
The federal government’s Defence Investment Agency (DIA) has awarded a new, $2.3-billion CAD contract to Ottawa-based Telesat. The company is tasked with bolstering Canada’s military communications capabilities in the Arctic using satellites built by Brampton, Ont.-based MDA Space. The news: The federal government announced the contract, which will be the largest in Telesat’s history, on…
