Top pick for digital nomads
But, IT grads struggle to find work
Welcome to this week's Sunday Briefing. In this issue, read about a recent investment in local climate tech, plus 10 other stories you've probably missed. Have a great day. We'll see you again Wednesday.
Carbon Upcycling raises $34M Series A led by BDC Capital and Climate Investment
Carbon Upcycling Technologies Inc., a decarbonization tech solutions provider, has closed a $34 million (US$26M) Series A funding round co-led by BDC Capital’s Climate Tech Fund and Climate Investment.
Other participating investors include Clean Energy Ventures, angel investor collective CEVG, Amplify Capital, and strategic investors Oxy Low Carbon Ventures, CRH Ventures, and Cemex Ventures.
For what? The company says the funding will be used to deploy multiple commercial projects, including two that will be co-located directly at cement plants.
The tech: These projects will aim to validate the cost-effectiveness of Carbon Upcycling’s all-electric solution that mineralizes CO2 emissions from industrial facilities and upcycles industrial byproducts into materials that reduce the carbon footprint of cement and concrete.
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🤝 Funding, Deals + Partnerships
With initial $8-million close for Nex Gen VC (NGVC) Partners, KJSM Ventures’ team targets more early-stage tech startups. The new Calgary-based investment firm NGVC has secured the initial close of its first venture capital opportunities fund. Betakit
Software company gets millions for methane management tech. Calgary-based SensorUp recently received $12 million in a Series B fundraising round led by Climate Investment. Government Technology
Feds commit $6 million to advance innovation and grow Calgary tech firms. The Technology Integration Centre is expected to create more than 180 jobs while furthering the city's vision of being underpinned by innovation. Calgary Herald
New funding to advance hydrogen innovation. The government of Alberta announced $50 million through Alberta Innovates and Emissions Reduction Alberta (ERA). Alberta Innovates
Alberta deep tech companies raise $899.8M in last decade. 2022 was a standout year for investment in Alberta deep tech with $445M raised across 23 funding rounds. Start Alberta
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📰 Need To Know
Calgary ranked top destination in North America for remote workers. Calgary took the top spot as the travel destination for digital nomads in North America, while ranking seventh worldwide. Daily Hive
Scarcity of tech jobs in Calgary a growing challenge for IT grads. A local firm had thousands of applicants for just a few dozen positions. CBC News
Calgary’s tech market surges, with no signs of slowing down anytime soon. A new report shows that Calgary’s tech market is one of the highest in Canada in terms of growth. Livewire Calgary
Creating certainty for renewable projects. Alberta's government is responding to concerns about electricity projects to ensure future growth is balanced with responsible development. Government of Alberta
💡 POV: Ideas and Insights
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