Canadian Startup News of the Week (10/10/22)

More: Meet the Google alumna joining Lightspeed.

Welcome to the BetaKit starter stories of the week! Here you will find the most important news, features and editorials of the week published on BetaKit. If you’d rather have this update hit your inbox every week, be sure to sign up for the BetaKit newsletter using the form at the bottom of this page.

Top stories of the week


Two Small Fish thinks big with third fund, targets final close of C$40 million

With 40 investments under its belt, including notable bets and exits, Two Small Fish has the confidence and capital returns to build a much larger fund than in previous years.


InBC reveals direct and indirect investment strategy for $500 million fund

InBC is positioning the $500 million as a permanent fund investing both directly in companies and investment funds located in or with close ties to British Columbia.


Carbon6 closes C$88m Series A to shore up ‘fragmented’ BetaKit e-commerce software space

“What we saw here was an opportunity to bring together a suite of tools that supported this professional seller in a way that others hadn’t in this market,” said the co-founder and CEO of Carbon6, Justin Cobb, at BetaKit in an interview.


Class action lawsuit filed against Wealthsimple and Shakepay over alleged misleading crypto trading fees

The lawsuit, filed Sept. 29 in Quebec Superior Court, seeks punitive damages of $10 million each from Wealthsimple and Shakepay for misrepresenting the true costs of their cryptocurrency services. The proposed class action has not yet been authorized by the court.


Lightspeed Appoints Ex-Google Ryan Tabone as Chief Product and Technology Officer

“We want to do a lot more in financial services,” Lightspeed CEO JP Chauvet told BetaKit in an interview, noting that Tabone’s experience with Google Pay in particular is “ultra-relevant” to what it does. Lightspeed today.


How TD is working to open up equity education

Speaking to BetaKit, Samantha Estoesta, Head of Innovation Equity and Programs at TD Lab, explained the hub’s origins and its basic five-step process that any company can use to help create more inclusive products and services.


BetaKit Live: Fighting Cyber ​​Threats

In partnership with TELUS Online Security, BetaKit is pleased to present a live panel discussion on what Canadians need to know about cybersecurity threats while offering practical solutions for online protection.


Latest financings, acquisitions and layoffs

  • BC – Innovate BC awards $2.3M to eight R&D projects (find out more)

  • VAN – Canada Drives – $10 million (find out more)

  • CAL – Clean – $2.55 million (learn more)

  • TOR – Sensibill acquired by Q2 Holdings (find out more)

  • TOR – Horizon Blockchain Games – $40 million (learn more)

  • TOR – Ledn to acquire Arxnovum (read more)

  • TOR – Halp – $5.5 million (find out more)

  • OTT – Field Effect – $41 million (learn more)

  • MTL – National Bank agrees to donate $1 million to Startup Montréal (read more)


HOW HAS THE TECHNOLOGICAL SLOWDOWN AFFECTED THE MENTAL HEALTH OF THE FOUNDERS?

“There is a direct relationship between entrepreneur mental health and business performance.”

Econa Founder Dr. Michael Freeman returns to discuss the impact of the current tech winter on the mental health of founders and its impact on business performance.


TWITCH IS DYING AND DEVIN NASH KNOWS WHY

“Essentially, Amazon failed to make this business profitable. It’s not making money.”

Streamer, YouTuber, and Novo CEO Devin Nash joins us in explaining the myriad ways Amazon’s experiment with Twitch fails to make money or make anyone happy.


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