Plus: There’s a $10M bounty to integrate AI into food production.
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Vector Institute, Kids Help Phone team up to expand use of AI in mental health services (BETAKIT)
Canadian mental health services provider Kids Help Phone (KHP) is partnering with Toronto-based Vector Institute to expand its use of artificial intelligence in its service delivery.
Using natural language processing, KHP will continue to adapt its aggregated youth mental health dataset to the way young people speak, allowing frontline staff to offer more precise services to young people.
EGYM, the Munich-based smart fitness startup, raises $225M from Jared Kushner’s Affinity Partners (TECHCRUNCH)
The technology industry at large might not be in the best of health at the moment, but health and fitness startups appear to be alive and well.
EGYM, the Munich-based “smart workout solution” business, has agreed to a monster equity investment of €207 million ($225 million) on the back of a very strong year of growth.
Protein Industries Canada offers $10 million to help grow AI use in food sector (BETAKIT)
Protein Industries Canada has issued a $10-million CAD call for food-focused AI projects.
The industry-led non-profit organization said it’s increasing its focus on novel AI ventures that accelerate the commercialization of new plant-based ingredients and food, helping make Canada’s plant-based food sector more efficient and sustainable.
PharmEasy, once valued at over $5 billion, seeks new funding at a 90% valuation cut (TECHCRUNCH)
Indian online pharmacy startup PharmEasy is planning to raise about $300 million in a new round of funding at a 90% markdown from the previous valuation, two people familiar with the matter said, effectively giving in to some investors’ push to sell itself.
Tiptap and Omnirobotic pursue restructuring after startups fail to raise additional funding (BETAKIT)
Burlington, Ont.-based Tiptap and Laval, Qué.’s Omnirobotic are restructuring after both startups were unable to secure the financing necessary to support their existing operations and obligations.
As VC funding dried up, many companies have cut staff to preserve cash and pursue profitability, explored costly down rounds or debt financings, filed for creditor protection, sold for a fraction of their previous value, or shut down altogether.
Spotify CEO’s Medical Startup Neko Health Gets Big-Name Backers (BNN BLOOMBERG)
Neko Health, the medical diagnostics company co-founded by Spotify Technology SA Chief Executive Officer Daniel Ek, raised €60 million ($65.4 million) in venture capital to expand outside its home country of Sweden.
Skype co-founder Niklas Zennstrom and Klaus Hommels of VC firm Lakestar, will join the board as a result of their investments. Palo Alto-based General Catalyst also participated.
Here’s a list of all the Startupfest afterparties (BETAKIT)
The team that pulled together a community-submitted list of all the events surrounding Collision conference in Toronto has done the same for Startupfest in Montréal, which takes place from July 12 to 14.
Some of the events on the list are completely free, or can be attended without a Startupfest pass. Others require tickets to be purchased or are invite-only.
Apple’s next AirPods Pro may check your hearing health and take your temperature (THE VERGE)
While AirPods already support audiograms — audio profiles that tell the AirPods where your hearing may be weakest so that they can tune themselves to your hearing abilities — Apple may be looking further.
Some AirPods will be gaining a new hearing health feature, supported by iOS 17, that can check yourself for potential hearing issues and may be able to determine your body temperature via your ear canal.
AI risks: overblown, existential threat, or something else? VCs and tech experts disagree (BETAKIT)
From “AI godfather” Geoffrey Hinton to Cohere CEO Aidan Gomez, AI experts took centre stage at Collision in Toronto to discuss the promises and perils within the future of AI.
Alodokter absorbs Marubeni’s pregnancy app Diary Bunda (MOBIHEALTHNEWS)
Indonesian digital health company Alodokter has acquired the pregnancy app Diary Bunda from Japanese conglomerate Marubeni Corp. for an undisclosed sum.
Alodokter has been pursuing its expansion plans and development of new products on its platform over the past years.
Canadian startups Oncoustics, OneCup AI join Google cloud accelerator (BETAKIT)
Google has revealed that Canadian startup Oncoustics is among the cohort of 12 startups participating in the first installation of its cloud accelerator for startups in North America.
The Toronto-based medtech startup says it is developing low-cost, point-of-care ultrasound systems with portable surveillance, diagnostic, and monitoring systems for preventative care and early intervention.
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Alex Riehl
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