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Despite a season filled with storms, summer 2022 was particularly dry for venture funding in ’s sector, and a new report from briefed.in sheds light on just how far in the city has fallen from the bull highs of 2021.

Toronto venture funding plunged to a two-year low in third quarter of 2022 A new report from briefed.in sheds light on just how far Toronto investment has fallen from the bull market highs of 2021.

The mission of is evident in its name: the is on a mission to make verifying someone’s identity and details fast. The company’s is currently used for tenant screening, and having closed a $3.5 million CAD seed round over the past year, Verifast sees the potential to expand into a variety of verticals. (https://betakit.com/with-backing-from-celebrity-investors-and-mortgage-lenders-verifast-wants-to-improve-identity-financial-verification/)

With celebrity investors & mortgage lender backing, Verifast wants to improve verification Verification-as-a-service startup Verifast has closed a $3.5 million seed round to expand into mortgage underwriting.

Toronto's tech pool experienced the most growth across the and United States markets between 2016 and 2021, according to CBRE’s Scoring report for 2022 ( https://betakit.com/toronto-vancouver-tech-talent-pools-saw-highest-growth-in-latest-cbre-report/ ). This year, ranked Toronto the third best city across and the for tech talent, pulling in over 88,900 jobs within five years. That moved Toronto up one spot from its ranking in the previous report, replacing , DC.

Toronto, Vancouver tech talent pools saw highest growth in latest CBRE report | BetaKit Toronto’s tech talent pool experienced the most growth across the Canadian and United States markets between 2016 and 2021, according to CBRE’s Scoring Tech Talent report for 2022.

Port Coquitlam-based has entered a supply agreement with the energy storage subsidiary of Mercedes-Benz to reuse its partly-spent electric vehicle ( ) batteries (https://betakit.com/moment-energy-signs-supply-agreement-with-mercedes-benz-to-repurpose-used-ev-batteries/). According to , this marks the first agreement it has signed with a North American second-life energy storage system ( ) provider.

Moment Energy signs supply agreement with Mercedes-Benz to repurpose used EV batteries Moment Energy has entered a supply agreement with the energy storage subsidiary of Mercedes-Benz to reuse its spent electric vehicle batteries.

Montréal-headquartered has entered an agreement to acquire Nasdaq and Toronto Stock Exchange (TSX)-listed Points for $25 USD per common share, with a total value of $385 million in an all-cash transaction (https://betakit.com/plusgrade-to-acquire-tsx-and-nasdaq-listed-loyalty-commerce-startup-points/). The deal must be approved by Points’ and the Ontario Superior Court of Justice, in addition to meeting other regulatory approvals, to be finalized. Once completed, Points would become a private company under ’s portfolio.

Plusgrade to acquire TSX and Nasdaq-listed loyalty commerce startup Points | BetaKit Plusgrade has entered an agreement to acquire Nasdaq and Toronto Stock Exchange (TSX)-listed Points, which offers a loyalty commerce platform.

Shortly after ’s deal to acquire Coinberry was announced earlier this week, it was revealed that Corp. III had agreed to settle its lawsuit against Coinberry (https://betakit.com/amid-wonderfi-deal-coinberry-reaches-settlement-in-cinaport-lawsuit-following-failed-tsxv-takeover/). -based Cinaport’s lawsuit followed the collapse of a deal that would have seen Coinberry acquire Cinaport as a means of going public.

Amid WonderFi deal, Coinberry inks settlement in Cinaport suit following failed TSXV takeover​​ Shortly after WonderFi’s deal to acquire Coinberry was announced earlier this week, it was revealed that Cinaport Acquisition Corp. III had agreed to settle its lawsuit against Coinberry.

The has published its Budget 2022, which contains a number of commitments for the and innovation sector (https://betakit.com/federal-budget2022-surprisingly-heavy-on-innovation-policy/). Much desired commitments to clusters, intellectual property ( ), and more have been made. Rather than large cash commitments, many of the promises are or -driven.

Federal #Budget2022 surprisingly heavy on innovation policy The federal government has published its Budget 2022, which contains a number of commitments for the Canadian tech and innovation sector.

( ) announced today that it plans to hire up to 2,500 employees across over the next five years as part of a new Canadian hub (https://betakit.com/meta-to-hire-up-to-2500-workers-in-canada-open-engineering-hub-to-build-metaverse/). Ford called the move “a tremendous show of confidence in [ ].” He added, “Projects like these demonstrate that our tech talent no longer has to look elsewhere to pursue their .” Meta joins what seems to be an ever-increasing number of international tech companies that are looking to take advantage of .

Meta to hire up to 2,500 workers in Canada, open engineering hub to build metaverse | BetaKit Meta said Toronto will play an important role in creating the metaverse.

has revealed the list of joining the second cohort of its 10-week cloud accelerator program for . There are 11 startups from a variety of industries, such as appointment scheduling company , grocery delivery service , and proptech firm (https://betakit.com/google-reveals-second-cohort-of-canadian-cloud-accelerator/). The group will undergo a virtual bootcamp that involves cloud , project support, workshops on product design and customer , as well as leadership for cloud founders and leaders.

Google reveals second cohort of Canadian cloud accelerator Google Canada has revealed the 11 startups joining the second installment of its Canadian cloud accelerator program.

The Bank of is teaming up with the Institute of Technology ( ) to explore central bank digital currencies ( ).https://betakit.com/bank-of-canada-to-collaborate-with-mit-on-digital-currency-research-project/
Canada’s central announced yesterday that it has struck an agreement with MIT Media Lab’s Initiative ( ) to conduct a 12-month research project that will take a closer look at “how advanced could affect the potential design of a CBDC.”

Bank of Canada to collaborate with MIT on digital currency research project | BetaKit The Bank of Canada is teaming up with the Massachusetts Institute of Technology (MIT) to explore central bank digital currencies.

-based same-day delivery has raised $1.25 million CAD in seed funding to fuel its expansion across .
(https://betakit.com/storetodoor-secures-1-25-million-to-take-same-day-delivery-service-to-new-markets/). After dabbling in ’s scene through angel investing and seeing the impact of and -19 on local retailers, he decided to launch his own same-day delivery solution. Now, armed with fresh , the company plans to move into British Columbia ( ) and other regions as it looks to “reach a national scale in 2022.”

StoreToDoor secures $1.25 million to take same-day delivery service to new markets Regina-based same-day delivery startup StoreToDoor has raised $1.25 million CAD in seed funding to fuel its expansion across Canada.

With , and continuing to prioritize societal initiatives, environmental, social and ( ) performance is becoming critical for to stay competitive in an increasingly socially conscious world (https://betakit.com/four-ways-tech-companies-can-achieve-carbon-neutrality/) No longer can a strong product or service carry a . Modern behaviours have shifted, and new preferences have emerged as this – and every generation to come – are committing to making the world a better place. They expect that same commitment from the companies with which they engage.

Four ways tech companies can achieve carbon neutrality | BetaKit Rick Wadsworth, VP of investor relations at Kinaxis, shares lessons learned and how software companies can enhance their sustainability strategies.

One year after being acquired by for $754 million CAD, ’s is charting a new course for his (https://betakit.com/allen-lau-drafts-a-new-plan-for-wattpad-one-year-after-naver-acquisition/). Allen points to four areas that Wattpad will focus on for growth; leveraging machine learning to discover more stories; how traditional is produced; creating new forms of entertainment; and distributing stories across all formats (on multiple platforms) and earn money for writers.

Allen Lau drafts a new plan for Wattpad one year after Naver acquisition One year after being acquired by Naver for $754 million CAD, Wattpad’s CEO is charting a new course for his company.

Advances in and other allow machines to be operated from far away. (https://www.wired.com/story/now-physical-jobs-going-remote/). The trend could spell trouble for workers; “new forms of physical may involve supervising multiple , similar to how one person oversees several chatbots simultaneously.”

Now Physical Jobs Are Going Remote Too Advances in artificial intelligence and other technology allow machines to be operated from far away. The trend could spell trouble for workers.

The has made accessing talent more possible than ever before which has been evident in the thriving scene. (https://betakit.com/why-canadian-tech-is-finally-accessing-the-global-talent-market/). This shift in the global talent pool has had arguably the most significant impact in , where startups have recently been able to raise big rounds and hire top executive talent as well as world-class at a fraction of the price it used to cost The Canadian has done its part in helping attract this talent. The Start-Up Program now allows investors ranging from large VCs all the way to angels to fast-track recruits’ processes.

Why Canadian tech is finally accessing the global talent market | BetaKit Ripple Ventures Founder and Managing Partner Matt Cohen shares how the pandemic has made accessing global talent more possible than ever before.

is supposed to allow for anonymity. However, in the last few years regulators and enforcement have taken action against some of the cryptocurrency brokerages for not being transparent enough, Evans said. (https://betakit.com/trulioo-sees-crypto-firms-lean-toward-compliance-verification-as-regulatory-environment-changes/). As crypto moves into the mainstream, the sudden explosion of offering crypto services has caused security regulators to crack down on firms that don’t adhere to regulatory requirements.

Trulioo sees crypto firms lean toward compliance verification as regulatory environment changes More cryptocurrency companies are turning to standard verifications that traditional financial institutions use in order to meet regulatory requirements.

Prime Minister Justin today dropped the new mandate letters for his ministers, with the minister’s objectives including a number of targets for the . (https://betakit.com/new-mandate-letter-gives-minister-champagne-long-to-do-list-for-canadian-tech-and-innovation/). That list includes launching a national quantum strategy and a version of Defense Advanced Research Projects Agency ( ). The new mandate letters outline an extensive set of objectives that put a spotlight on sustainability and -19-related work, but also include a laundry list of things the has been calling for.

New mandate letter gives Minister Champagne long to-do-list for Canadian tech and innovation Trudeau dropped the new mandate letters for his ministers, with the innovation minister's objectives including a number of targets for Canadian tech.

-based has raised $3 million CAD from a group of angel as the launched its online for in-person meeting spaces (​​https://betakit.com/just-boardrooms-raises-3-million-launches-marketplace-for-in-person-meeting-spaces/ ). Its instantly pairs people with looking to rent their unused meeting spaces. Just Boardrooms claims its goal is to help workers overcome “rising collaboration deficits with a safe, low carbon, sharing .” It launched as the coworking industry has gone through changes during -19, including the shift to and flexible work.

Just Boardrooms raises $3 million, launches marketplace for in-person meeting spaces Toronto-based Just Boardrooms has raised $3 million in angel funding as the company launches its online marketplace for in-person meeting spaces.

, a grassroots campaign to raise $25 million for ’s Hospital for Sick Children ( ), raised $50,000 in its inaugural e-auction on November 4 (https://betakit.com/tech4sickkids-e-auction-raises-50000-towards-25-million-goal-to-modernize-sickkids-hospital/). Tech4SickKids goal was to SickKids which includes driving the hospital’s in for Kids initiative, a resource hub to lead projects, as well as building emergency rooms equipped to use tech and AI to deliver better health outcomes for kids.

Tech4SickKids e-auction raises $50,000 towards $25 million goal to modernize SickKids hospital Tech4SickKids, a grassroots campaign, has raised $50,000 of its $25 million goal for Toronto’s Hospital for Sick Children (SickKids) in its virtual auction on November 4.

The Ontario has delayed the launch of its ID program until 2022. The program was postponed because of the launch of Verify , the province’s proof-of-vaccination app (https://betakit.com/ontario-delays-launch-of-digital-id-program-until-2022/). A spokesperson for the Associate Ministry of Digital Government told , “the priority and resources in the Associate Ministry of Digital Government had to shift to support the of ’s pandemic response, specifically with the successful release of the Verify Ontario app for which makes it easier to confirm people have been while protecting their privacy.”

Ontario delays launch of digital ID program until 2022 The government of Ontario has delayed its launch of the digital ID program until 2022 owing to its launch of the proof-of-vaccination app.

Fresh off of a recent , John Baker, the founder, president and of , reflected on his firm’s move from a private to a public and talked to about the experience (https://betakit.com/despite-reduced-offering-d2l-founder-says-public-markets-present-tremendous-opportunity-for-tech-firms/). The company is the developer behind , a cloud-based for the delivery of courses, learning-based games, and assessments online or in-person. claims that it serves 970 K-12, higher , and customers, with over 14 million users across ​​more than 40 countries. D2L’s clients include many of ’s and colleges.

Despite reduced offering, D2L founder says public markets present “tremendous opportunity” for tech firms Fresh off of a recent IPO, John Baker, the founder, president and CEO of D2L, reflected on his firm’s move from a private to a public company.

-based exchange has been exempted by regulators to operate as a restricted dealer under (https://betakit.com/coinsmart-the-latest-canadian-crypto-trading-platform-to-receive-exemption-from-regulators/). Through its wholly-owned operating subsidiary, Simply Inc., has been registered, allowing it to operate its . The exemption comes through the Ontario Securities Commission ( ), and CoinSmart joins a small number of Canadian crypto platforms that have received the approval.

CoinSmart the latest Canadian crypto trading platform to receive exemption from regulators Cryptocurrency exchange CoinSmart has been exempted by regulators to operate as a restricted dealer.

’s newest location features plenty of sun, sand, and surf – and hopefully startups. The DMZ at University is opening a new incubator in , and at the same time looking to become more involved in (https://betakit.com/dmz-launching-incubator-in-bermuda-with-eye-towards-gaining-a-foothold-in-blockchain/). DMZ highlighted how Bermuda is becoming known for its growing specialization in blockchain technology, as well as and . “The new Bermudian innovation hub will act as a one-stop-shop to help founders build cutting-edge technology and scale their start-up growth,” noted .

With Bermuda incubator launch, DMZ aims to gain foothold in blockchain The DMZ at Ryerson University is opening a new innovation incubator in Bermuda, and at the same time looking to become more involved in blockchain technology.

is set to acquire a majority stake in for $5.7 million CAD. In this deal, Freshii has agreed to acquire 60 percent of Natura’s outstanding shares at closing with rights to purchase the remaining 40% by Q1 2025 (https://betakit.com/freshii-inks-deal-to-acquire-natura-market/). Although the deal will maintain Freshii and Natura’s independent operations, both companies are looking to “take advantage of the synergies that exist between them.” Freshii said it plans to use the insight that ’s sales data will provide to aid the in identifying early-stage food and beverage trends to support Freshii’s restaurant and -packaged goods ( ) product .

Freshii inks deal to acquire Natura Market Freshii, a Canadian restaurant franchise, is set to acquire Natura Market by Q1 2025 with $5.7 million to make healthy food products more accessible.

SaaS has raised $320,000 USD in a pre-seed round led by Arbour & Renaud Capital (https://betakit.com/hookdeck-raises-320000-usd-in-pre-seed-funding-to-fuel-development-of-webhooks-solution/). Hookdeck provides an all-in-one for that deal with . According to the company, its provides a message queue that integrates webhook requests from SaaS and distributes them to a callback endpoint.

Hookdeck raises $320,000 USD in pre-seed funding to fuel development of webhooks solution Montréal SaaS startup Hookdeck has raised $320,000 USD in pre-seed funding to accelerate the development of its webhook infrastructure.

-based startup unveiled a new update to its analysis , saying that Flinks can now be used as a standalone analytics engine on top of a FinTech or bank’s data source (https://betakit.com/with-new-platform-update-flinks-claims-open-banking-is-already-in-canada/). The updated platform sits over top of the raw transactions data from other open providers as well as ’ own .

With new platform update Flinks claims open banking is already in Canada Montreal-based FinTech startup Flinks unveiled a new update to its data analysis platform.

A decade after being acquired by , former members of have teamed up to launch another calendar named (https://betakit.com/former-tungle-foko-retail-employees-team-up-to-launch-new-hybrid-work-focused-calendar-startup/). The group, which also includes former members of , has been frustrated by what they see as a lack of innovation in calendar , and views as their “next go-around in the calendar space.”

Former Tungle, Foko Retail employees team up to launch new hybrid work-focused calendar startup A decade after being acquired by Blackberry, former members of Tungle have teamed up to launch another calendar startup named Nook Technologies.

In an effort to expand the capacity of its early-stage accelerator program, is increasing the size and frequency of its cohorts. (https://betakit.com/techstars-toronto-tapped-for-second-cohort-as-early-stage-accelerator-expands/) is one of only two cities the organization has selected to launch two , the other being Tel Aviv, . runs two programs in : an artificial -focused in and the Techstars Toronto , which selects startups from any industry vertical and any geographic location.

Techstars Toronto tapped for second cohort as early-stage accelerator expands In an effort to expand the capacity of its early-stage startup accelerator program, Techstars Toronto is increasing the size and frequency of its cohorts.