The Vancouver-based online-learning platform cut 96 employees as part of a reorganization it expects to save about US$19 million a year. The company said it’s also pursuing some “non-headcount related savings” in the first quarter of 2027. (The Logic)
The RCMP’s drones account for most of the 1,628 in the publicly acknowledged federal fleet that come from Chinese manufacturers, according to tallies tabled in Parliament this week in response to a formal query from the Opposition Conservatives. (The Logic)
The Ontario Municipal Employees Retirement System’s venture arm is sharpening its focus on early-stage Canadian companies, with plans to invest between $5 million and $15 million in companies it believes can scale, according to a LinkedIn post by Lenz. (The Logic)
Bain Capital Ventures led a US$45-million equity round for the Alameda, Calif.-based firm, co-founded by Hooman Reza Nezhad, who was raised in Waterloo, Ont. J.P. Morgan led US$30 million in debt and equipment financing. (The Logic)
The Hamilton, Ont.-based startup designed its drone system based on the needs of the Ukrainian military, which include it being modular and easy to build, CEO Kath Intson said at the Nrth tech conference in Toronto on Thursday. “We are now selling directly to the Ukrainians.” (The Logic)
Christian Weedbrook, who is also CEO of the Toronto-based quantum computing firm, on Tuesday converted 4.6 million of his multiple-vote shares to regular stock and sold them for $32.8 million. He now holds about 42 million shares, which give him about a quarter of the firm’s voting power. (The Logic)
The Ontario Teachers' Pension Plan’s venture growth arm is adding to the US$550 million funding round that the startup announced on Sept. 9, which valued San Francisco-based Harvey at US$15.5 billion. (The Logic)
Volkswagen’s battery-making subsidiary announced Thursday that it now expects to open its $7-billion gigafactory in St. Thomas, Ont., in 2029 amid lower demand for electric vehicles. (The Logic)
An investigation by the federal watchdog concluded that Kalibrate’s fine-grained information about gas-station sales could help Canadian retailers keep prices higher than they would otherwise be. The company has agreed to make only aggregate data available to its Canadian fuel-retail customers and to delay its release by at least 10 business days, the bureau said. (The Logic)
San Francisco-based startup PitPro Automation says the system is the first it’s put in the field. It can swap out a full set of four tires in under 15 minutes. PitPro is planning to install more units at other locations in the fall. (The Logic)