Drone-reforestation firm Flash Forest raises $11.4M Series A
The Mississauga, Ont.-based company said the round was co-led by the Telus Pollinator Fund for Good and OurCrowd, a global venture investing platform. (The Logic)
The Mississauga, Ont.-based company said the round was co-led by the Telus Pollinator Fund for Good and OurCrowd, a global venture investing platform. (The Logic)
The region requires more wet lab space, more talent and help with costs to keep the capital-intensive sector growing, according to Invest Vancouver. (The Logic)
The Caisse de dépôt et placement du Québec had committed to fully divest its oil and gas assets by the end of last year. The Quebec fund manager’s holdings in the sector amounted to about 0.05 per cent of its total assets as of Dec. 31, 2022. (The Logic)
The Canadian actor shared the news true to form by posting a series of video ads on social media Monday in his signature comedic style. Reynolds is shown strolling around the Montreal-based Nuvei office chatting with chair and CEO Philip Fayer while promoting it as “the payments company from Canada.” Nuvei’s release did not disclose the terms of Reynolds’ investment. Both the firm and Reynolds did not immediately respond to a request for comment. (The Logic)
The Kitchener, Ont.-based tech firm is buying St. Paul, Minnesota-based GTT, which provides technology to cut emergency response times and prevent emergency-vehicles from crashing at intersections. GTT reported about US$40 million in revenue last year. Miovision received $260 million in growth funding from Maverix Private Equity, Export Development Canada and Telus Ventures that helped fund the deal. (The Logic)
Truong announced in a LinkedIn post on Friday that he and the company “have decided to mutually separate.” Truong, who was also vice-president and general manager of Canada at Binance, joined the cryptocurrency exchange in December 2021. He declined The Logic’s request for comment. Bryan Tritt, spokesperson for Binance, declined to comment on who will replace Truong. (The Logic)
The Vancouver-based athleisure retailer is working with an adviser to solicit interest in Mirror, sources told Bloomberg. Lululemon bought the interactive workout device maker for US$500 million in June 2020 and wrote it down by US$442.7 million in its most recent earnings report in March. The company did not immediately respond to The Logic’s request for comment. (Bloomberg)
The commerce software company announced the cut Monday, which represents about six per cent of its 650 employees. (The Logic)
Previously, the Montreal-based commerce company allowed customers to use any payment platform of their choice. As of March 27, Lightspeed began selling Lightspeed POS and Lightspeed Payments as one consolidated offering. Current customers will be charged a third-party processing fee based on a percentage of their revenue if they use outside payment services, Julia Cyboran, vice- president of brand at Lightspeed told The Logic in an email. La Presse first reported the news. (The Logic, La Presse)
Federal projections in documents obtained by University of Ottawa law professor Michael Geist show big increases in television production in Canada over the next five years, whether or not the Liberals’ Online Streaming Act forces streaming companies to invest in and promote Canadian content. But the forecast is that without the bill, the growth will be in “foreign location and service production” for shows that are shot here but don’t qualify as Canadian, and there will be a decrease in Canadian-produced television shows that “will greatly impact the industry.” (The Logic)