Brightspark Ventures and Whitecap Venture Partners led the fundraising, while Investissement Québec, a provincial government investment arm, provided $25 million. OMERS Ventures and BDC’s Climate Tech Fund also participated. Deep Sky also added TC Energy executive vice-president Annesley Wallace and Sam Duboc, former CEO of mental-health company MindBeacon, to its board. (The Logic)

Talking point: The startup, led by Hopper co-founders Fred Lalonde and Joost Ouwerkerk, is developing an experimental technology that aims to capture CO2 by removing it from seawater. The latest funding round will go toward its carbon-capture efforts, the company said in a release. Deep Sky has signed partnerships with a flurry of technology developers in recent months, including California-based Equatic and Vancouver’s Svante Technologies. Brightspark partner Sophie Forest told The Globe And Mail that while Deep Sky’s bid to commercialize new technology is “extremely” risky from an investor standpoint, it was important to support bold entrepreneurs chasing major breakthroughs.