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🗳️ Question of the Week

A very Canadian funding round

Calgary’s PurposeMed recently received growth funding in a round led by True North Fund, with participation from BDC and Panache Ventures. PurposeMed is a telehealth company that provides accessible and specialized healthcare services, focusing on underserved populations across Canada and the United States.

PurposeMed was recently named Canada’s second- and North America’s seventh-fastest-growing tech company. In a press release, the outfit said that it prevents one case of HIV every three days, improves access to complex care for underserved communities, and saves the Canadian healthcare system over $200 million in future costs each year through preventative care.

“We are thrilled to partner with the True North Fund team on this financing, propelling our continued mission to build the most impactful global digital health company,” said Dr. Husein Moloo, CEO of PurposeMed.

The lead investor, True North, is a Kitchener-based growth-stage venture capital company focused on tech, and the round was bolstered further by two other Canadian funds. That move is timely, as it mirrors the rise of anti-U.S. sentiment in Canada after Trump introduced tariffs between the nations.

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📰 Need To Know

• Calgary Economic Development reveals its take on the 2025 Provincial Budget. Our province is entering a period of economic uncertainty as we face the threat of looming tariffs from the United States, it says. Calgary Economic Development

• Alberta is eating B.C.’s lunch when it comes to tech and talent. Tech workers and companies are being lured to Alberta by lower taxes and cheaper housing. One B.C. business group wants that to stop. The Logic

• Join Startup TNT’s Summit XI by March 11. Raising capital is tough, but Startup TNT’s Investment Summits make it easier by connecting you with engaged investors who want to fund and support promising startups like yours. StartupTNT

• A national wake-up call for innovation and growth. Canada is facing a productivity crisis, and the numbers don’t lie. Alberta Innovates

• Western Canadian business councils unite to form Western Business Coalition. Canada is home to vast natural resource wealth, yet federal policies have long constrained the growth and global export of these assets. Business Council of Alberta

• Foresight Canada launches Earth Tech: Adapt to boost Alberta’s climate resilience. Alberta has been experiencing significant climate-related challenges. Calgary.Tech

• The51 welcomes Lauren Robinson as fund managing partner to scale venture funds. Lauren will join Shelley Kuipers and Judy Fairburn as general partners, adding to the depth of the team and preparing the organization to scale. The51

• MedEssist CEO Joella Almeida on expanding healthcare access. With a background in payments and e-commerce, Almeida entered healthcare technology after recognizing inefficiencies in how pharmacies deliver care. Calgary.Tech

• UCalgary opens doors to innovators through new lab services program. The institution has partnered with Emissions Reduction Alberta to support industry players in the clean energy space. University of Calgary