News
Making space commonplace: U of T startup works with NASA on low-cost exoplanet research
Growing out of research at U of T, StarSpec is contributing to the 2025 NASA project by providing the suborbital research vessel that houses and controls the mission’s telescope, which will be deployed some 40 kilometres above the Earth’s surface after the balloon is launched from a volcanic island in Antarctica.
The road ahead: Raquel Urtasun’s startup to ‘unleash full power of AI’ on self-driving cars
Raquel Urtasun, a U of T professor of computer science and world-leading expert in machine learning and computer vision, has launched her own Toronto-based, self-driving vehicle company with more than $100 million in funding.
Kepler raises CAD$72.6 million as the firm looks to grow network, expand to US
Three months after becoming the largest satellite operator in Canada, U of T space tech startup Kepler Communications has secured $72.6 million CAD ($60 million USD) in Series B financing.
U of T AI scientist launches self-driving startup Waabi amid shakeup in industry’s top ranks
Toronto-based former senior Uber Technologies Inc. executive and renowned artificial intelligence researcher Raquel Urtasun launched her self-driving startup Waabi from stealth mode on Tuesday with an US$83.5-million Series A funding round. Urtasun, a professor in the University of Toronto’s computer science department and a co-founder of the Vector Institute for AI, headed up Uber’s Advanced … Read More
BioBox Analytics launches platform to help scientists analyze genomic data
Founded by three U of T alumni, startup BioBox Analytics has publicly launched its platform, which aims to help researchers derive insights from genomic data.
Xanadu secures $120 million CAD led by Bessemer to build photonic quantum computer
U of T startup Xanadu has secured $120 million CAD ($100 million USD) in a Series B round led by Bessemer Venture Partners.
How Ada piggybacked Zoom and Shopify’s growth during the pandemic to become a Canadian unicorn
Powering the likes of Zoom, Facebook, and Square, U of T startup Ada has seen a record year of growth amid COVID-19.
ALT TEX closes $1.5M pre-seed round to commercialize sustainable polyester alternative
U of T sustainable fashion startup ALT TEX has raised a $1.5 million CAD pre-seed round of funding. The round was co-led by Garage Capital and Amplify Capital, with participation from Globalive Capital, Panache Ventures, Ramen Ventures, Spacecadet Ventures, and Presstar. Astronaut Chris Hadfield also invested in the round, as did University of Toronto business professor … Read More
As Naver closes $754 million CAD acquisition of Wattpad, Allen Lau is looking to scale
South Korean internet company Naver Corp. has officially acquired U of T startup Wattpad for more than $754 million CAD ($600 million USD). With the deal now closed, Toronto-based Wattpad has become a Naver brand alongside WEBTOON, a global leader in webcomics that Wattpad will work closely with moving forward. Wattpad’s core app will continue … Read More
Ada secures $130M in Series C financing, claims 1.2 billion valuation
Founded by U of T alumnus, Mike Murchison, Toronto artificial intelligence (AI)-powered customer support software startup Ada has raised $130 million USD in Series C financing at a reported valuation of $1.2 billion.