🗳️ Question of the Week

Calgary companies made the biggest tech deals of 2024

As we begin the new year, we’re taking a quick peek back at some of 2024’s biggest (publicly announced) tech deals, as documented by Start Alberta.

Unsurprisingly, Neo Financial’s whopping $360 million Series D, comprised of $110 million of equity and $250 million of debt, took the cake. While the numbers are impressive, some questioned the impact of the raise, with the Logic reporting a “significant drop” in the company’s valuation.

ClearSky Global, a company focused on low-carbon alternative fuels, raised USD $168 million from a private international ESG investment group. ClearSky said its raise was the fifth-largest early-stage venture capital raise in the clean fuels space globally.

Third on the list was Orpyx, a digital therapeutics company that raised USD $20 million in growth capital. Orpyx provides tech solutions aimed at reducing and preventing diabetic foot ulcers and amputations.

All but two of the companies on Start Alberta’s top 10 list are from Calgary. Artificial.Agency, an Al-powered behavior engine for games, and PulseMedica, a company with a real-time 3D imaging and laser targeting system for precise retinal surgery, represented Edmonton’s tech innovators.

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🤝 Funding, Deals, and Partnerships

• Canadian carbon-removal company scores USD $40M grant from Bill Gates-backed fund. The company, which received the grant from Bill Gates’ climate solutions venture firm, says its Alberta test site will be removing carbon directly from the atmosphere as early as this spring. Global News

• Motiv announces joint venture with the WealthCo group of companies. The product, Advisor Desk, is a platform designed to seamlessly connect advisors with clients, enabling them to address the complex needs of individuals, families, and businesses. Motiv

📰 Need To Know

• New data centre will be one of Canada’s most powerful. Canada’s leading data centre provider, eStruxture Data Centers, will develop its largest facility in Alberta, a province that wants to be — but is far from — a critical hub for this type of infrastructure. Globe and Mail

• Empowering Alberta's game innovators. Can Alberta's gaming sector truly double its impact by 2026? Join to unpack this bold ambition with Adam Brown from Alberta Innovates, alongside gaming visionaries Matt Toner of Shred Capital and Michael Liebe from Booster Space. Shift by Alberta Innovates

• Expanded access for Calgary’s innovators coming soon. Platform Calgary has expanded access for its members, including longer days during the week and access on Saturdays. Platform Calgary