Longtime engineering lead leaving Google Canada for Inovia
Steve Woods is joining the Montreal-based venture capital firm as a partner and chief technology officer. (The Logic)
Steve Woods is joining the Montreal-based venture capital firm as a partner and chief technology officer. (The Logic)
The Kitchener-based company, which makes computer vision and AI technologies for cities to track street traffic, bought Arizona-based data startup Traffop to build out its software product line. (The Logic)
The grocer stopped taking orders for its PC Chef meal-kit delivery service, which was only in the Greater Toronto Area, on July 2. It will stop selling the products, which had also been available in some Ontario stores, over the next few weeks, said spokesperson Catherine Thomas. (The Logic)
TikTok’s Beijing-based parent company was mulling an off-shore public offering, but those plans are now shelved indefinitely as Chinese authorities publicly crack down on data disclosure and potential monopolies. (The Wall Street Journal)
Economics commissioner Paolo Gentiloni cited ongoing work on the OECD-led inclusive framework, which would overhaul taxation of multinationals. The EU plans to review the decision in the autumn. (Reuters)
The Canadian pension-fund manager contributed US$800 million to the round. SoftBank, Walmart and Singapore’s sovereign wealth fund GIC also led the round, which values the Indian e-commerce firm at US$37.6 billion. (The Logic)
Algolux said it’s trying to meet demand from auto suppliers for better driving- and parking-vision systems. Forté Ventures and Drive Capital co-led the round, with new investors including Investissement Québec and existing investors GM Ventures, Generation Ventures and Intact Ventures. (The Logic)
The two Vancouver-based tech companies joined Samsung Next, Coinbase Ventures and other investors in the financing round for the Miami-based platform, which aims to make digital collectibles mainstream, including through a collection tied to the upcoming Space Jam sequel. (The Logic)
The province’s public companies raised $23.6 billion in capital last year, up 38 per cent from 2019, according to a report from the B.C. Securities Commission. (The Logic)
In particular, the administration plans to look into acquisitions by “dominant internet platforms” of new rivals as well as deals that involve accumulating personal information and affect privacy. The U.S. president also urged the Federal Trade Commission (FTC) to set new rules to ensure competition on online marketplaces and to restrict employers’ use of non-compete clauses. And the executive order directed the Consumer Financial Protection Bureau to require banks to release customers’ data to them so they can switch lenders. (The Logic)