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BDC Starts Pilot Programs for Canadian AI Tools in SMB Market
The initiative targets a significant adoption hurdle, as BDC data shows nearly seven in ten Canadian small and medium-sized businesses rarely use AI.
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Schwarz Group leads Cohere’s Series E targeting up to C$7B
Cohere announced an initial close, not completion of the full financing target. Model competitiveness remains a separate question.
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Ottawa commits up to $1.6B investment to AI firm Cohere
The funding comes as the generative AI company reaches a valuation of $35.7 billion, underscoring strategic government support for Canadian tech leadership.
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Neo Financial secures $185M syndicated facility to scale credit card receivables
The syndicated $185 million facility, led by ATB Financial and various credit unions, allows Neo to expand its receivables funding capacity while offering potential growth to partner institutions.
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Kavodax Launches Global Payments Platform Using Stablecoins and Canadian Dollar Backing
The Money Services Business registered in Canada operates across more than 50 countries, aiming to undercut traditional foreign exchange fees for SMEs.
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Canada pledges 500 MW sovereign AI compute via backstops and off-take agreements
The commitment targets relieving a critical market failure where domestic startups are crowded out of securing necessary data centre financing.
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Ottawa plans up to C$1.6B investment in Cohere, demanding Canadian job and compute commitments
The planned government anchor investment into the $35.7 billion AI company raises questions about how state capital influences corporate governance at scale.
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Cohere targets up to C$7B after initial Series E close
The target is not the amount already raised. Ottawa separately committed up to C$1.6B in staged equity investment.
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