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🏙️ $20M for Burnaby businesses
Plus, learn about major announcements from anchor companies Absolute Software, General Fusion, and Science World.
Kate Wilson
August 13, 2023
A short week means less news, right? Not for Vancouver tech.
This week, local anchor company Absolute Software was officially acquired by Crosspoint Capital, General Fusion received $33.5 million in a series F round to build a new fusion reactor new YVR airport, and the Government of Canada announced $20.8 million in funding for Burnaby businesses. All that to say: local companies are on the grind, and don’t let up after a long weekend.
Oh — and Vancouver Tech Journal is making moves too. We’re bringing an incredible guest to town next month that we can’t wait to reveal to you. Stay tuned in the next couple of weeks for a very special announcement.
Now onto today’s briefing. It’s 1,208 words: a four-minute read.
-Kate, @KateWilsonSays
- P.S. We’re back on Tuesday for our Vancouver Tech Morning Coffee. Join us and your community at the Coffee Bar in Gastown (10 Water Street) from 8:00 to 10:00 a.m.
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The company has raised $33.5 million to fund the machine, which it hopes will produce more energy than is consumed for the reaction by 2026.
Metro Vancouver is known as the Silicon Valley for hydrogen fuel cells. But with stiff international competition for customers, the advantage could be Vancouver’s to lose.
The link-up taps into Tabit’s buy now, pay later solution.
Plus, find out which CEO made Forbes’ Cloud 100 Rising Stars 2023. Read our top member briefing from last week (members only)
Helping innovators and changemakers tell their stories
Switchboard Public Relations – an Earnscliffe Strategies company works with some of the most progressive and innovative teams in the tech sector.
Tech leaders know their products and services are brilliant, but sometimes need help explaining why they matter and how they will create positive change. Switchboard communicates game-changing ideas to target audiences in a way that’s accessible and exciting.
Is your team on a mission to disrupt the status quo? See how the country’s top tech PR firm can help you.
🤝 Funding and deals
Absolute Software’s acquisition by Crosspoint Capital was officially completed.
The Government of Canada, via PacifiCan, announced over $20.8 million for businesses and organizations in Burnaby to expand operations and create jobs.
Konscious Foods, a Vancouver plant-based seafood brand, closed a $26 million seed financing round.
PressReader, a platform to read newspapers and magazines, announced a partnership with Gannett to expand USA Today’s global audience.
Tripleseat, a cloud-based event management software company for the hospitality industry, acquired fellow event software outfit, Vancouver’s Attendease.
For all the local funding news, become a Vancouver Tech Journal member »
The Metro Vancouver Region’s “Untapped” Opportunity
Recent dry conditions and unprecedented heat waves in Metro Vancouver and beyond highlight the need for innovation in industries such as water tech, a hidden gem of the region’s clean tech sector.
Read Invest Vancouver’s research for an overview of the sector and recommendations for capitalizing on this untapped opportunity.
🗞️ In other news
Vancouver-based Web3 company Ethos announced an integration with Shopify.
Ballard, the local fuel cell leader, is working with Ford Trucks to bring its innovations under the hood of the automotive juggernaut’s offerings.
Cascadia Daily News took a deep dive into Richmond-based Nature’s Path Organic Foods.
For all local news and our daily coverage, become a Vancouver Tech Journal member »
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Join VanHack on the webinar to get all your questions answered. Register now.
đź’ˇ Ideas and insights
Chris Neumann, partner at Panache Ventures, wrote on his blog about ethics, morals, and fiduciary duty: Don’t talk to your competitor’s investors
Darrell Kopke, executive director at Creative Destruction Lab Vancouver, joined Launch Academy’s Ask Me Anything podcast to discuss social impact in marketing and the philosophy of "stretchy pants" in entrepreneurship.
Jove Zhong, co-founder and head of product at Timeplus, joined the Unveiling Success Stories podcast to discuss innovative problem-solving and his views on Vancouver tech.
Douglas Lui, venture partner at Vine Ventures Corporation, writing in Fast Company: How to grow fast in a slow market as a minority
Traction Podcast interviewed Brian Ascher, partner at Venrock, to share his top tips to raise seed and series A funding.
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