👋 Have you heard of Sky Global — the Vancouver-founded company whose encrypted messaging service was used extensively in drug trafficking and more, and which the police suspected were colluding with the criminals? Scroll down to our “ideas and insights” section to get the full scoop on the multinational raids on those using the company’s tech.
Meanwhile, it’s that time of year: take a jaunt with us as we look back at Vancouver’s top tech news, and the city’s biggest funding and deals headlines. Plus, discover where public investment fund InBC’s has dropped its latest dollop of money; talk wine and tech; and join us in remembering the inimitable Greg Caws, former Innovate BC CEO and co-founder of Vancouver’s digital technology supercluster.
-Kate Wilson, managing editor
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🤝 FUNDING & DEALS
Spexi, which bills itself as the largest and fastest-growing ultra-high-resolution drone imagery network, has announced a $11.5 million Series A round.
The Vancouver-based outfit uses automated drone systems and its own software to deliver aerial imagery that is 900-times more detailed than traditional satellite data. These pictures supports organizations and companies in disaster preparedness, smart city planning, infrastructure inspection, resource monitoring, gaming, and other AI applications.
Notably, blockchain-focused funders are behind the company’s raise. The lead investor is Blockchange Ventures, and although the others were not specified, local blockchain giant Dapper Labs was involved in its March seed funding round. Spexi claims that part of its unique offering is that its drone imagery is paired with blockchain’s ability to ensure image integrity.
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IN OTHER NEWS
Vancouver’s legaltech darling Clio has been named to Fortune’s prestigious Future 50 list. The roster evaluates over 2,800 public and 175 private companies based on their long-term growth potential, resilience, and track record for innovation.
For reference of how significant this achievement is for the local company, consider that OpenAI — creator of ChatGPT and perhaps one of the most famous organizations on the planet — placed only 13 spots ahead of Clio, and that the hometown hero beat out other household names like Roku, Brex, and Shopify.
Clio’s software products are used by 150,000 legal pros in 130 countries. Launched in 2008, Clio offers case and document management services and payment processing. In October it unveiled Clio Duo, its first generative AI tool for customers. Venture investors have taken notice: In July, the company raised a hefty $900 million, at a $3 billion valuation.
(Want to learn more about Clio? The company’s director of product management will be on the panel at our next #VTJTalks event on December 11.)
🚨 VTJ members got 12 more stories like these in their Morning Report newsletter. If you’re not already a member, fix that now.
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💡 IDEAS & INSIGHTS
CBC’s flagship podcast series Front Burner this week covered the story of scandal-engulfed Vancouver company Sky Global.
The outfit, founded in 2008, developed the world’s largest encrypted messaging network called Sky ECC — a service similar to Signal or Telegram, but which went much further. A significant share of the system's users were international crime organizations involved in drug trafficking and more, and the company management was suspected of collusion.
A massive police hacking operation in Europe disrupted that network — leading to more than 10,000 arrests, a mountain of drugs stopped at the border, and more than a hundred assassination attempts thwarted in 2021. Not bad, considering that the local company promised communication couldn’t be hacked on their encrypted phones.
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👀 CAN’T MISS
December 11 | 🎟️ #VTJTalks: Scaling World-class Products and Teams: Uncover the secrets behind scaling world-class products and building exceptional teams. Hear directly from leaders — with experience at Clio, Hootsuite, and TikTok — who have transformed innovative ideas into industry-leading products and managed teams that set global standards. This event offers an exclusive chance to learn actionable insights on scaling strategy, product development, and team dynamics.
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🚨 Remember: VTJ members get early access and 50% off all our events as well as exclusive gatherings. Don’t miss out — if you’re not already a member, fix that now.
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