Plus: Amazon expands into pharmacy.
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Pender Ventures closes first half of $100 million target for second venture fund (BETAKIT)
“We wanted to build out that bench strength across the country, in Ontario [and] Québec in particular,” said Maria Pacella, Pender Venutres managing partner.
How Amazon’s latest pharmacy move lays the groundwork for longer-term play (FIERCE HEALTHCARE)
While the offering is not breaking new ground or particularly disruptive to the pharmacy market in the near term, industry experts say the move is worth watching for how it lays the groundwork for the e-commerce giant’s long-term healthcare and pharmacy strategy.
Smile Digital Health secures $30 million Series B funding to expand AI, machine learning capabilities (BETAKIT)
Smile said the round was led by existing investors, including the commercialization arm of the University of Pittsburgh Medical Center, UPMC Enterprises. Smile said that this new round of funding will be allocated to expanding its artificial intelligence (AI) and machine learning capabilities.
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Start-Up Paradigm Raises $200 Million to Speed Up Drug Trials (THE NEW YORK TIMES)
New York-based Paradigm has raised a significant amount to simplify clinical trials. Its goal is ambitious, but its challenges are many, researchers say.
Investor liquidity issues are putting the squeeze on Canadian startups (BETAKIT)
The immediate harm is to Canadian startups that are looking to fundraise—including those that had closed rounds, only to never see the funds materialize or be clawed back.
StoryTap founder Bernadette Butler on how she overcame the “shocks” of entrepreneurship (BETAKIT)
“I would question anybody that claims they got it right out of the gate,” said StoryTap founder Bernadette Butler.
Exclusive: Tiger Global-Backed Healthtech Unicorn Innovaccer Lays Off 245 Employees (INC 42)
In an internal mail sent to employees and seen by Inc42, Innovaccer cofounder and CEO Abhinav Shashank cited “uncertain macroeconomic environment” as the reason behind the job cuts.
As Big Tech makes mass layoffs, recent Canadian startup reductions might cut deeper (BETAKIT)
The economic pressures causing some of the world’s largest tech companies to reduce staff also continue to be felt by Canadian tech startups. In recent weeks, PartnerStack, SSENSE, #paid, Shakepay, and Venngage have all joined the growing list of tech startups to make staff cuts.
Pearl Health raises $75M to grow tech platform for value-based care (MOBIHEALTHNEWS)
The company offers a technology platform that aims to help primary care practices find gaps in care and manage the health of their patient populations.
How to turn new grads into successful employees (BETAKIT)
Younger generations value interesting work and team connection; they require structure and strong communication.
Former Jawbone boss seeks to dismiss investor suit (BNN BLOOMBERG)
The legal drama has been heightened by a turbulent market. VCs are facing declines in their portfolio values and a larger slowdown in the technology sector after years of rapid growth. In such an environment, smoldering disagreements that once might have been overlooked can flare up into serious conflagrations.
With Signal 1, Tomi Poutanen is using AI to tackle Canadian healthcare (BETAKIT)
With Toronto-based Signal 1, which launched last year, Poutanen has set his sights on applying the same technology to another regulated industry with sensitive data—healthcare. To do that, the Signal 1 co-founder and CEO teamed up with economist Mara Lederman and health data scientist Muhammad Mamdani, and the company recently launched its first customer site deployment with Kitchener-Waterloo’s Grand River Hospital.
Small Ottawa firm subcontracted ArriveCan app to multinationals, documents reveal (THE GLOBE AND MAIL)
The two-person Ottawa-area staffing company that has received millions of dollars in federal commissions on IT projects subcontracted its work on the ArriveCan app to six other companies, including multinationals such as BDO and KPMG, new documents reveal.
Chatbots are creating thorny ethical questions about transparency in mental health care (STATNEWS)
Researchers and developers are in the very early stages of figuring out how to safely blend artificial intelligence-driven tools like ChatGPT, or even homegrown systems, with the natural empathy offered by humans providing support.
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Michael Edgar
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