🗞️ This week, the theme of keeping it Canadian has continued in Vancouver tech. Backers within the country have financed an exciting $2.7 million seed round for a local company fighting deepfakes, $50 million for a biotech giant to build two new facilities in Burnaby, and $9 million to advance 11 housing-tech companies. Meanwhile, Withe has launched a new platform, HireNorth, which matches Canadian jobseekers with Canadian opportunities. Makes you proud to salute the maple leaf.
Plus, Damon Motors has raised some much-needed cash (scroll down to our “funding and deals” section to see why the money is controversial), Svante is repping Vancouver in Time Magazine (see “in other news”), and Thinkific has some unexpected insights about how you’re marketing your product wrong.
-Kate Wilson, managing editor
P.S. Got a story you want to share? Catch me in person at Microsoft Vancouver on April 9 — I’ll be on a panel speaking about how to craft your narrative and get it in front of journalists, ready for Web Summit. Come hang out!
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🗞️ FROM VTJ
The movement to buy Canadian should include hiring Canadian, says the platform's creator.
Styx Intelligence scored the cash for its exciting and oversubscribed seed round from Canadian backers. (🔒 Members only)
The funding will help support the $222 million build of two new biomanufacturing facilities, to keep jobs in Metro Vancouver.
Four new announcements tie the tech community to the city’s unaffordable real estate. (🔒 Members only)
With tech firms being some of the largest occupiers of office space, understanding market shifts is critical for businesses, investors, and policymakers.
Read more at vantechjournal.com
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💸 FUNDING & DEALS
Damon Motors, which designs and develops electric motorbikes and other mobility products, closed an upsized $16.5 million public offering this week.
The Vancouver-based company, which listed on the NASDAQ in 2024 and currently trades at around USD $0.04 a share, says the financing “marks a pivotal moment” and will provide the foundation it needs to strengthen its balance sheet and execute on its business plan.
Despite its IPO, Damon has has a turbulent year. Trade publications have written about the uncertainty of its manufacturing facility’s location (the company began building that capability in B.C.); layoffs; the resignation of co-founder Dominque Kwong and then her return as interim CEO; and the loss of company CTO, Derek Dorresteyn.
According to trade outlet Canada MotoGuide, the company says it has USD $100M in pre-order deposits, and has spent years raising private investment, “but at this point, it still has not actually sold production motorcycles to the public, despite video and images of prototype models in use.”
🚨 Want all of the funding and deals announcements this week? VTJ members got it in their newsletter. Not a member? Fix that now.
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Congratulations 2025 BC Cleantech Award winners
The winners of the fifth annual BC Cleantech Awards were recently announced on March 26 at the sold-out ceremony in Vancouver. The awards recognize the innovators, funders, adopters, and supporters working together to catalyze cleantech adoption and net zero progress across the province.
📰 IN OTHER NEWS
Time Magazine has recognized Vancouver carbon-capture company Svante as one of its World’s Top GreenTech Companies of 2025. Svante is one of only five Canadian businesses to make the list.
The analysis by Time, in partnership with data firm Statista, considered the positive impact, financial strength, and innovation of more than 8,000 companies developing products, services, or technologies to reverse the impact of human activities on the planet.
Svante is set to soon launch its first gigafactory in Vancouver, which will be capable of producing enough filters to capture 10 million tonnes of carbon dioxide annually. Its technology stops the gas from entering the atmosphere as well as removing it from ambient air. The trapped carbon dioxide can then be permanently stored underground, or repurposed into other products ranging from sustainable airplane fuel to industrial products and consumer goods.
Why does it matter? Svante has raised an enormous amount of money — from its $318 million Series E and beyond — and represents one of the most promising solutions for carbon management to emerge from Vancouver’s robust climatetech ecosystem.
🚨 VTJ members got 14 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
New research from Vancouver giant Thinkific — a TSX-listed platform that enables entrepreneurs to create, sell, and deliver their own online courses — reveals a whole lot of misconceptions about using social media and content creation to market your product.
First up, bigger audiences aren’t better. The report found that 43 percent of high-earning businesses have less than 10,000 followers, and that hyper-targeted and highly engaged small audiences are much more successful when it comes to selling.
Secondly, connection is the key to driving retention and revenue. Exclusivity is one way to deepen that relationship, with 67 percent of high-earning businesses hosting online webinars and events, and 70 percent offering members-only content.
The insider report offers several more takeaways to get ahead in the creator economy, and find better ways to market your business.
👀 CAN’T MISS
April 3 | 🎟️ VTJ Members-Only Workshop: Things You Didn’t Know You Could Do with AI: Join us for an exclusive VTJ members-only workshop with Kushank Aggarwal, a creator entrepreneur with over a million followers and an AI SaaS founder. This session isn’t about the AI basics you’ve already seen. Instead, Kushank will dive into surprising, practical, and game-changing AI use cases — from workflow automation to unexpected productivity hacks. You’ll leave with immediately actionable insights that go beyond ChatGPT prompts. (Want to attend but not a member? Become one now.)
April 8 | 🎟️ More Money, More Problems: Managing the Cap Table: Whether you're preparing for a raise or just want to stay investor-ready, this session will help you confidently navigate the complexities of cap table management. Join VTJ for a candid, founder-focused conversation on how to build and maintain a healthy cap table. Legal experts from Fasken will break down the essentials — from dilution and equity allocations to common mistakes and how to avoid them. You’ll also hear directly from a local investor and experienced tech founders who’ve been through the process and lived to tell the tale.
April 9 | 🎟️ Vancouver Tech Morning Coffee: Join Vancouver Tech Journal and Segev LLP for a morning of excellent coffee and pastries, great conversations, and even better connections. This meetup is your chance to connect with fellow founders, investors, and industry pros, and exchange ideas and spark new opportunities — all before your first meeting of the day. It’s free to attend, so please register to let us know how many to expect.
🚨 Remember: VTJ members get early access and 50% off our VTJ talks events as well as exclusive gatherings. Don’t miss out — if you’re not already a member, fix that now.
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