The railway data analysis firm’s round was led by Trucks Venture Capital. MUUS Climate Partners, Active Impact Investments and Blackthorn Ventures also participated in the equity deal. The funds will be used to make sure the company’s product is “100 per cent” reliable and add new features, CEO Dev Jain told The Logic. (The Logic)
The public has until March 31, 2023 to weigh in on the Crown corporation’s mandate, including how it supports small- and mid-sized businesses, and its role in Canada’s venture capital ecosystem. (The Logic)
The Calgary-based oilsands giant said it would “retain and continue to improve” its Petro-Canada branded gas stations, partly by expanding its footprint in non-fuel businesses like loyalty programs and convenience stores. (The Logic)
The group, which provides grants to universities and environmental organizations, said it would invest the remainder of its $100-million endowment and end all operations by the end of 2027. The funding will primarily be used to “address climate change and advance Canada's low-carbon economy,” the foundation said. (The Logic)
The funding adds to the $1 billion Power Sustainable raised from the Desmarais family, one of Canada’s wealthiest, and a group of financial institutions including National Bank of Canada, Great-West Lifeco and Switzerland-based Après-demain. Existing and new investors, including pension funds and family offices, participated in the latest round. (The Logic)
The bank will take over 100 per cent of HSBC Canada’s common equity under the all-cash agreement. RBC will also assume all preferred debt issued and held by the company, at $1.1 billion and $1 billion, respectively. (The Logic)
Users of streaming platforms like TikTok and YouTube will get the same deference to their expression rights as traditional broadcasters, under an amendment to Bill C-11 that senators examining the proposed law approved Tuesday. (The Logic)
Global markets slid as demonstrations against zero-COVID policies erupted in some of China’s largest cities, marking a rare display of dissent inside the Communist state in response to growing public frustration over prolonged lockdowns. (The Wall Street Journal, Financial Times)
Innovation minister François-Philippe Champagne said in a press release that the Alberta-based lithium extraction company will be key to helping Canada produce “large quantities of battery grade lithium to the auto industry.” (The Logic)
The Ottawa-based commerce company said merchants around the world that use its platform sold US$3.36 billion from the start of Black Friday in New Zealand until the day of shopping frenzy ended in California, marking its highest total to date. (The Logic)