According to Osler’s 2023 Deal Points Report, “Ontario and British Columbia have the highest concentration of companies raising a financing round.” But that is not to dismiss Alberta. The spirited province accounts for 11% of the share, the report shows, which is marked growth over the previous figure of 9%. Indeed, Osler’s Calgary office reported on […]
Nanoprecise
Alberta Tech Industry Embraces Downturn, Prepares for Rebound
With 20 million users accessing their platform, Benevity is the largest corporate purpose software provider in the world. But last week, Benevity announced it is laying off 137 staff members. This represents 14% of the Calgary-based technology unicorn’s workforce. In a statement posted to Benevity’s website, CEO Kelly Schmitt called it one of the toughest days in the company’s history. […]
Alphabet Layoffs Impact Alberta’s AI Cluster, But Ecosystem Remains Resilient
Alphabet’s recent announcement that it will cut a whopping 12,000 staff sent shockwaves throughout the industry. The move will impact many regions and organizations, including dealing a blow to Alberta’s burgeoning artificial intelligence scene. That is because Google owns DeepMind, the company’s AI research arm, which runs an office in Alberta. As a result of […]
Edmonton’s Nanoprecise Raises $10 Million For AI In Manufacturing Plants
Edmonton’s Nanoprecise Sci Corp has raised a USD $10 million series B financing round led by Export Development Canada (EDC) with participation from Honeywell Ventures, NSK Ltd., and EC Mergers & Acquisitions. Nanoprecise is an automated AI-based predictive maintenance solution provider that specializes in the implementation of Artificial Intelligence and IIoT technology for predictive asset maintenance and […]