BetaKit

Many media outlets tend to prioritize the amount of funding raised over the actual innovation and quality of products or services. There is a lot of buzz surrounding releases from big, established companies, while new and innovative ideas often get overlooked. The focus is frequently on being the first to share news rather than offering thorough analysis. Often, the spotlight is on Silicon Valley, with little coverage of developments elsewhere, including in Canada. At BetaKit, we believe in delivering not just the news, but also the context behind it. While breaking news is crucial, it's equally important to connect these stories to broader industry trends and explain their significance for you and your business.

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At World Summit AI, cautious tone of researchers drowned out by cutthroat adoption race

3 days ago | betakit.com | Madison McLauchlan |Madison Mclauchlan

The chorus of artificial intelligence (AI) researchers and scientists pressing for a measured approach to the technology’s development clashed with the urgent tone of tech companies scrambling to keep pace with its rapid advancement at the World Summit AI in Montréal. “Understand [AI agents] as a leap of faith, as the way to go.
Vector Institute hires ex-TD, Thomson Reuters leader Glenda Crisp as president and CEO

1 week ago | betakit.com | Josh Scott

Toronto-based artificial intelligence (AI) research hub Vector Institute has appointed seasoned technology leader Glenda Crisp as its next president and CEO. Crisp brings 35 years of experience in enterprise data strategy, advanced analytics, and tech to Vector, primarily from the financial services sector. She previously spent 17 years in senior roles at TD Bank and, most recently, was head of data analytics at Thomson Reuters.
Yoshua Bengio warns of “catastrophic risks” of agentic AI at World Summit AI

1 week ago | betakit.com | Madison McLauchlan |Madison Mclauchlan

Canadian AI godfather Yoshua Bengio says that if companies succeed in creating superintelligent AI agents without solving for self-preservation, it could carry “catastrophic” risks. Bengio, founder of the Montréal-based AI research institute Mila, made the remarks over Zoom as part of his closing keynote address to the World Summit AI conference in Montréal.
Online car retailer Clutch taps former Properly CEO Anshul Ruparell as CFO

1 week ago | betakit.com | Josh Scott

Toronto-based online car retailer Clutch has tapped the co-founder and former CEO of Toronto proptech startup Properly, Anshul Ruparell, as its new chief financial officer (CFO). In a LinkedIn post announcing the appointment, Clutch CEO Dan Park said that Ruparell has been “behind the scenes” helping to build the auto-selling company for the past five years, first as a friend and advisor before joining its board of directors a year ago in April 2024.
Enterprise AI companies announce hiring spree for Montréal AI talent

1 week ago | betakit.com | Madison McLauchlan |Madison Mclauchlan

Three American tech companies and one Toronto-based company are expanding their Montréal offices to enhance their French-language product offerings and draw from the city’s “intellectual firepower.” “We’re looking for people who want to work at a fast-growing company, who are customer-centric and want to get stuff done.” Giovanni Iacovino Alexa Translations The United States (US)-based firms—Terzo, SafelyYou, and Ampliwork—and Toronto-based Alexa Translations are looking to hire for 220 roles...
Innovobot unveils “refreshed” deep tech VC fund under Neha Khera’s leadership

1 week ago | betakit.com | Josh Scott

After raising far less than it hoped for its first deep technology-focused venture capital (VC) fund and undergoing some leadership changes, Montréal-based Innovobot Resonance Ventures (IRV) is ready to invest again with a “refreshed vision” and veteran early-stage investor Neha Khera at the helm. “We’re back, open for business, [and] ready to write cheques,” Khera told BetaKit in an exclusive interview.
PolicyMe eyes new insurance products, more big-name partners after raising $30 million over two years

1 week ago | betakit.com | Josh Scott

Toronto-based insurtech startup PolicyMe has been busy since 2022: raising more funding, launching new products, and seeing success helping other insurance firms sell policies online more efficiently. During this time, PolicyMe has closed $30 million CAD in previously unannounced equity and debt financing from strategic partners across three tranches since 2023.
Federal government launches loan facility to support enterprises impacted by tariffs

1 week ago | betakit.com | Alex Riehl

The Large Enterprise Tariff Loan Facility (LETL) is now open for applicants as the Government of Canada announces a slew of new measures for Canadian businesses and entities affected by the tariff dispute between Canada and the United States (US) “We’re giving Canadian companies and entities more time to adjust their supply chains and become less dependent on US suppliers.” François-Philippe Champagne The facility is managed by the Canada Development Investment Corporation (CDEV) through its...
Amazon’s Climate Pledge Fund joins Cyclic Materials’ extended Series B round

1 week ago | betakit.com | Alex Riehl

Toronto-based Cyclic Materials has extended its Series B round for a second time to bring Amazon’s Climate Pledge Fund into the fold. Cyclic initially raised a $71-million CAD ($53-million USD) all-equity round led by Toronto-based cleantech investor ArcTern Ventures in September 2024 to expand its rare earth recycling infrastructure in the United States (US) and Europe.
Cohere doubles down on agentic search capabilities with new Embed 4 model

1 week ago | betakit.com | Madison McLauchlan |Madison Mclauchlan

Cohere has released a new embedding model that it says offers superior search and retrieval functions for AI agents. Seventy-two percent of early AI adopters expect autonomous agents to take over some tasks from their employees by the end of 2025. Embedding models turn complex information, such as text or images, into vectors or numbers that AI models can process. In other words, they encode meaning for large language models (LLMs).