Mike McCauley

Sidewalk Labs (Part of Google), another showcase of Canadian politicians bending over for a big US corp, with ZERO tangible results 💩 Roxana and I attended a "private investor demo" session in 2019. A block of wood was passed among the audience, supposedly the NEXT BIG BREAKTHROUGH in urban development! Demo concluded, by observing a piece of wood! Building blocks of future skyscrapers! The promise? With this, Google will build a "Smart City" for us, the peasants of Toronto, in Queens Quay 🏖️🏢 Sidewalk Labs' website now points to a newer Google scam, it reads: "Build Sustainably with Google Earth"! Bait and switch, but let enough time pass so no one remembers 🤢 https://lnkd.in/gd3B-a6m Guess now the investors and Ontario Government | Gouvernement de l’Ontario have shit loads of these wooden blocks, ready to shove up somewhere, to find a use for! All because the name "Bloomberg" sounds authoritative enough to our ears? Surely that's capital well spent, instead of investing in local talent! 🤔 Will Canada's tech ecosystem ever crawl out of Silicon Valley's shadow, and stand on its own? ⌚👀⛔

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Cool read about portco Vivid Machines using AI to help farmers maximize yield, reduce costs, lower emissions, and make data-driven decisions that weren’t possible a generation ago!! 🍎 🍇 🍐 🥝 From real-time tracking of tree health to optimizing harvest timing, Vivid turns farming into a precise science – helping farmers make informed decisions that improve profitability and boost efficiency. It’s awesome to see Canadian agtech driving such significant economic impact. Proud to support Jenny Lemieux and Jonathan Binas in shaping a more productive and sustainable future for farming! 🌱🚀 https://lnkd.in/e4i2NgMW #AI #agriculture #startups #venturecapital

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Light AI (ALGO:CBOE) has begun trading, presenting a promising future as it positions itself as a leader in AI-based healthcare technology. $30M CAD invested since 2016, the company’s proprietary algorithm boasts 97% accuracy in diagnosing viral or bacterial throat infections, addressing a global healthcare challenge: antibiotic resistance. The leadership team includes AI veteran CEO Peter Whitehead and prominent advisors like the former CIO of Johnson & Johnson, Tom Scarnecchia, and Emmanuel Blin, a healthcare distribution innovator in low-to-middle-income countries (LMICs). Light AI's disruptive technology aims to modernize diagnostics in LMICs, reducing the misuse of antibiotics. With a total of $26.5M CAD raised in private and RTO rounds and a marketing budget of over $3.5M, the company is poised to capitalize on the booming AI sector, which has seen peers like Healwell and Verses achieve significant valuation growth. Light AI's innovative approach and strategic capital deployment position it for strong market traction in the coming months. I am a shareholder.

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We (Climate VC) need to stop making excuses for the growth trajectories of our companies There’s a reason why Matthew Stotts and I chose the venture capital asset class to focus on - it has to GROW fast. And there are a lot of fast-growing, money-making opportunity areas with huge problems that could benefit from highly motivated well-funded and skilled teams looking to build a large company. If you need to make an excuse or caveat for any of the statements in the previous paragraph, you’re in the wrong asset class The good thing about VC is it grows fast and BIG. The clock is ticking on our biggest problem areas - let’s get to work!

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Are you a B2B software startup founder at the very start? Then you have to meet this early-stage investor! This week's findfunding.vc spotlight is on Dominic Lau from Ripple Ventures. He: 🇨🇦 Is Vancouver and Toronto based 🎣 Loves to fish 🎶 Founded the RippleX Fellowship - a platform to help underrepresented founders access mentorship, intros, and the tools to get from idea to revenue to funding Amongst founders, Dominic and his team at Ripple Ventures, including Matt Cohen, are known for being hands-on partners who open valuable networks, navigate challenges together, and assist in closing crucial revenue and funding deals. Make sure to: ✉️ Pitch him at [email protected] 👀 Look into the RippleX Fellowship - they take 10 companies 2x a year through the Founder Fellowship program and also back companies through the Fellow Fund For more, check out our funder spotlight card below along with Ripple Ventures' profile on findfunding.vc (link in comments).

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Today, I’m thrilled to announce our ‘24 Fall Release at Brex 🍂 With this release, we’re putting our money where our mouth is, by introducing a new Impact Dashboard that shows you real-time data on the value you’re getting from Brex — directly within the product. Across spend controls, time savings, rewards and yield, you’ll also find personalized recommendations on how to automate more manual work, and help every dollar of spend go further. Every feature we build at Brex (including this release) is designed to do one thing — make every dollar count toward your mission. We felt this was a critically important north star, because it means founders and finance leaders can spend confidently on Brex, knowing every dollar is making a clear, discernible difference in growing their business. There is so much incredible work to talk about — but here are a few key highlights: 📈 A new Impact Dashboard with detailed, real-time metrics on expense policy compliance, time saved through automation, and total rewards and yield earned. And more importantly, suggestions on how to further optimize spend to earn more. 🌎 Local-currency bill payments in 50+ countries by ACH, check, or wire from a Brex business account, with zero FX markups. 🔎 A smarter search experience that helps you find exactly what you’re looking for in fewer clicks, so you can spend less time in Brex. 🔥 50+ new features that make it easier to spend smarter, including vendor migration, a new Sage Intacct integration, improved bookkeeping access, simplified accounting, card integrations, and so much more. Link in the comments to learn more.

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If you're a Canadian entrepreneur, investor, or founder then this past week has made it painfully clear that when it comes to innovation and economic recovery the calvary won't be coming and is in fact running in the opposite direction. The federal government and associated regional innovation support agencies (ie Invest Ottawa) are failing to look at solutions aimed at effectively addressing an overall decrease in entrepreneurship and economic activity across the nation and it is now on us, as resilient Canadian entrepreneurs, to empower those who can bring the most value to the table if we are to strive for the quickest path forward towards economic recovery and helping the average Canadian family better their quality of life. I am proud to announce that RHA Ventures Inc. has answered that call 👏 In the face of rising costs for domestic businesses in Canada and competition from abroad, RHA Ventures, an Ontario-based venture capital firm specializing in cutting-edge technologies, announced today its investment in Real Life Robotics, a Waterloo-based company designing real robots for real businesses. This investment marks a significant milestone in the development of Real Life Robotics and underscores RHA Ventures' commitment to supporting true, tried, and tested founders and Ontario’s growing startup ecosystem despite an overall decrease in entrepreneurship across the rest of Canada. “Real robots, real people, and real-world challenges are what differentiate RLR as a technology company. We could not be more thrilled to have RHA Ventures, a group of experienced founders and problem solvers, on board as strategic advisors and investors as we help elevate Ontario globally as a home for first-in-class robotics and automation technology - empowering businesses with transformative robotics solutions that unlock new levels of efficiency, reliability, and scalability,” - Cameron Waite, CEO of Real Life Robotics. The numbers clearly show that the cost of getting involved in a business or launching a new product is too high for the average inexperienced Canadian and our economy has slowed in growth accordingly. On a macro level, we are placing too high an importance on new founders in a down market when we should be rewarding and doubling down on our true, tried and tested investors, founders and legacy businesses who have shown they are willing to take the risk. Thank you, Brian Foster and the rest of the team at RHA Ventures Inc. for taking this first step of the journey with us 🙏 https://lnkd.in/gSr5TP48

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As a founder, have you ever been curious about this whole angel investing thing? This week's findfunding.vc spotlight is on an investor who's an expert in it you simply have to know: Matt Wilson, MBA from Allied Venture Partners. He: 🇨🇦 Is Calgary based 😇 Manages one of Canada's largest angle investor syndicates (now at 1,800+ members!) 🏒 Worked as a professional ice hockey referee, which he says shares remarkable similarities with investing Amongst founders, Matt Wilson, is known for bringing empathy and perspective as a former founder himself. Aside from financial support, his goal is to be the 'right' investor - one that aligns with a founder's vision, shares his network, and provides strategic insights when asked. ✉️ Make sure to pitch him, invest, scout, advise and more at https://linktr.ee/alliedvc For more, check out our funder spotlight card below along with Allied Venture Partners' profile on findfunding.vc (link in comments).

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Spent a wonderful week in Canada with family! Now back to business.. Here's your weekly AI update: 🔙 𝐓𝐡𝐞 𝐁𝐚𝐜𝐤𝐰𝐚𝐫𝐝 𝐏𝐚𝐬𝐬: 𝐑𝐞𝐯𝐞𝐫𝐬𝐢𝐧𝐠 𝐓𝐡𝐫𝐨𝐮𝐠𝐡 𝐭𝐡𝐞 𝐀𝐈 𝐖𝐞𝐞𝐤 Week 51 | August 5 - August 11 The OpenAI Brain Drain Industry: 🚨OpenAI co-founder John Schulman leaves for Anthropic; President Greg Brockman is taking extended leave through the end of year. What's interesting is that three of their most technical co-founders (Ilya Sutskever, John Schulman, Andrej Karpathy) have all left the company now. This then begs the question - is this a result of natural silicon-valley attrition, or is there something deeper going on here? And moreover, how will this impact the technical moat that OpenAI has built over the years? (https://lnkd.in/gztRKhwV) 🚨Google announced that new Gemini AI-powered features will be incorporated in a variety of home devices, such as Google Home and Nest (https://lnkd.in/gV2QacAQ?). It also announced a significant reduction in token cost of Gemini 1.5 Flash (https://lnkd.in/gbNe6yNU?) 🚨Figure releases Figure 02, it's newest humanoid robot. Figure has been actively testing robots with BMW at a manufacturing plant. Figure last raised $675M Series B in February 2024, valuing the company at $2.6 billion. (https://lnkd.in/gZnPSke4) 🚨Mark Zuckerberg said on Meta's Q2 earning call that to train Llama 4, the company will need 10x more compute than what was needed to train Llama 3. (https://lnkd.in/g5pEPrTw?) 🚨Elon Musk filed a lawsuit against Sam Altman and Greg Brockman, renewing claims that the company is betraying its founding aims of benefiting the public good rather than pursuing profits. (https://lnkd.in/gAk5grU6) Financing and M&A: 🚨Groq raises $640m in Series D at a $2.8B valuation. The round was led by Blackrock Private Equity Partners with participation from other investors such as Neuberger Berman, Type One Ventures, Cisco, KDDI, and Samsung Catalyst Fund. (https://lnkd.in/gRtKQKvW?) 🚨Hugging Face acquires Seattle data storage startup Xethub. The HF team plans to integrate Xethub's backend storage technology, enabling developers to host more large models and datasets than currently possible. CEO Clem Delangue 🤗 confirmed this was the largest acquisition the company has made thus far. (https://lnkd.in/g8fJ-BjT) 🚨OpenAI is leading a $60m Series B funding round for Opal Camera, a maker of professional-grade webcams(https://lnkd.in/gMT9dkTG) 🚨ProRata.ai a company that has invented an attribution technology to properly compensate content owners, has raised a $25m Series A, led by Prime Movers Lab, Mayfield Fund and Revolution Ventures. (https://lnkd.in/gumjbWmj) R&D: 🚨Alibaba Group releases Qwen2-math, a SOTA model for math-specific tasks. (https://lnkd.in/g8Jh3M7T?) Other Interesting Resources: 🚨 Between May and August, more Humane AI Pins were returned than purchased (https://lnkd.in/gy56qpKm?). 😯

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It's so refreshing to read a personal (and appropriately long form) blog post from someone as curiously persistent as Graham Christensen. Thanks for dreaming big with Determinate Systems, Inc. and taking such a passionate stance on the future of software. Recalling our first meeting on some rooftop deck in Manhattan about 10 years ago with Zachary Smith -- to talk about the Collins project, I think? -- I would expect nothing less! "We’re building that smooth path from 'Nix could solve these problems' to 'Nix is solving these problems.' We’re making it possible to use Nix for critical software, with components that fit together in straightforward ways. We’re helping teams focus on the valuable problems they’re solving. We’re enabling teams to safely take big leaps with confidence and safety." https://lnkd.in/ektvCa9U

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Excited to announce the upcoming release of “The Venture Mindset” by Ilya Strebulaev and Alex Dang! It’s been a privilege to contribute. 📖 Ilya and Alex have spent decades studying top VCs, uncovering the true drivers of their success. Their advice is not the typical advice you might expect; they dive into the details of how VCs make decisions, why they're not afraid to fail, and how to spot the next big thing. I spent some time re-reading an advanced copy over the weekend, and what stood out to me was the book's practical advice on applying VC principles to everyday business challenges. Ilya and Alex provide clear, actionable steps that you can put to work no matter what you’re building. If you want to give it a flip for yourself, head over to https://lnkd.in/gJGmKiTg and grab a copy.

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Hopper cut 30-40% of its team in the last year to restructure around the success of its b2b products. So I took a quick look back at the history of the Canadian Fintech unicorn. And what I found is that Hopper is a pivoting machine. Here’s the story… In 2007 ex-Expedia Group employees launched Hopper, a travel content site. It was basically an aggregator of travel blogs. In 2014 Hopper published a piece on "the best time to book cheap flights". The article drove 100x more traffic than the previous four years combined. Based on that surge they decided to pivot. In 2015 Hopper got into travel booking and cut 50% of their team. They launched a consumer app that notified travelers of the best times to book their trips. In 2021 Hopper launched b2b “travel fintech” products like flight insurance, price freezing, and price drop guarantee that were embedded into third parties like Air Canada, Uber, KAYAK, & Capital One. Today, Hopper’s b2b business represents ⅔ of its revenue 🤯 Pivoting as a startup is expected. But pivoting while doing over $700m in revenue is remarkable. Love this story! -- Want more? Subscribe to the Canadian Fintech Newsletter in the comments below 👇

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My 7-year journey via Maple VC with Clay. Thanks Josh Scott at BetaKit for covering the story. I was first introduced to Kareem Amin through a fellow Canadian expat and now Maple founder, Michael Hershfield of Accrue Savings. They first met working at Sailthru in NYC where Kareem sold his first company. In 2016, Kareem started to tinker on new ideas with his cofounder Nicolae Rusan and I was fortunate to meet them at this time. This happened to align with me establishing Maple 1 in November 2016 on the simple thesis of backing Canadians building in America. We noticed that Canadian expats, who graduate from Canadian universities, go on to build some of the biggest companies in tech – Uber, Slack, Instacart, Notion, Faire, Databricks, Cloudflare, Roblox and most recently, OpenAI. Kareem and Nicolae seemed to match this pattern as two graduates from McGill University building in the US. In 2017, they landed on a very clear mission to make programming accessible to all. They painted a picture of replacing the black terminal that developers use, with a spreadsheet that is connected to the internet which could allow non-developers to automate work. What we saw immediately that gave us conviction was a very big ambition (making programming accessible to all) with a unique insight (using a spreadsheet) via a new method of no-code tooling. This reminded us of the early days at Uber: The promise to deliver you anything (big ambition) by starting with a black car that takes you from point A to point B (unique insight) via your phone (new method). We first committed to investing in Clay in Jan 2017 before the company had a lead. In June 2017, we were thrilled to learn that First Round Capital was going to lead their Seed. Sequoia Capital led the Series A in June 2019, which was surprising, since we had no revenue and were still figuring things out. However, the low-code no-code category was starting to take off. Then, they spent the next 3 years figuring out where to focus. During this phase it was fascinating to witness the many disbelievers. We had folks tell us that we should mark this investment to $0. In late 2021, they decided to narrowly focus on automating sales and this turned out to be the big unlock. Varun Anand joined as a cofounder leading their GTM efforts. The timing played out beautifully with new LLMs that we could use to automate growth in a way that hadn’t been done before. Clay relaunched in Feb 2022 with $0 in revenue and has not looked back since. We 10x’d two years in a row, all organically, achieving 100k users, 2500+ customers, and 11k people exchanging ideas in our Slack community. Maple has tripled down since the Seed through the Series B which was just led by Meritech Capital. We have a strong feeling that Clay has a real shot at realizing that vision they first shared with us 7 years ago.

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Just had to share this gem from Collision Conf in #Toronto. Among the #startups and VCs, I spotted a guy with a shirt saying, "Ask me about my CAC." Naturally, I asked. Sebastian Fallenbüchl, BASc., the wearer, shot back, "My CAC is getting lower as you just approached me." Genius. Seb’s witty remark was more than just a laugh — it was a reminder that business is about people. Metrics like CAC are crucial, but so are the connections and conversations that drive them down. Takeaway? Be #approachable. Humor and humanity can make all the difference. Thanks for the insight and the laugh, Seb. Here’s to more moments like these! #Networking #BusinessInsights

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"Entrepreneurship is painful and sometimes rewarding." This quote naturally came out during a check-in call with my good friend and fellow entrepreneur, Gilad, who is building a great product at Sequence (I just wish they were available in Canada) 😢 As soon as I said it, both Gilad and I reflected on how true that statement is in describing the journey of building something. Shoutout to all the business owners and entrepreneurs out there taking the pain with a pinch of reward. #startupjourney #pain #entrepreneurship #grit

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Gogreen Tech: Revolutionizing Hyperlocal Delivery Across Canada Did you know? Gogreen Tech's hyperlocal delivery network spans across Canada, ensuring seamless deliveries from coast to coast. 🇨🇦 In today’s fast-paced world, the demand for efficient, reliable, and eco-friendly delivery services is higher than ever. GoGreen Tech is leading the charge with its innovative approach to hyperlocal delivery, ensuring that Canadians from every corner of the country can enjoy the convenience of local deliveries. Our extensive network covers every province and territory, from the bustling streets of Toronto to the serene landscapes of Yukon. We’ve built a robust infrastructure that guarantees timely and accurate deliveries, no matter where you are. This coast-to-coast coverage ensures that all Canadians have access to the same high-quality service, fostering a sense of national connectivity and community At GoGreen Tech , we’re committed to sustainability. Our delivery fleet includes electric vehicles and bicycles, reducing our carbon footprint and contributing to a cleaner, greener Canada. By choosing GoGreen Tech, you’re not just opting for convenience; you’re also supporting a company that prioritizes environmental responsibility. Our hyperlocal model leverages local hubs and delivery personnel who know their communities inside and out. This local expertise allows us to navigate efficiently, minimize delays, and offer a personalized delivery experience. Whether it’s a last-minute grocery run or a critical medical delivery, our team is equipped to handle it with precision and care. Customer satisfaction is at the heart of everything we do. We’ve integrated cutting-edge technology to provide real-time tracking, easy communication, and flexible delivery options. Our goal is to make the delivery process as smooth and transparent as possible, ensuring that every interaction with Gogreen Tech leaves you delighted. Thousands of Canadians have already embraced the convenience of Gogreen Tech’s hyperlocal delivery service. Join them and experience the benefits of a nationwide delivery network that brings the best of your local community right to your doorstep. Gogreen Tech is more than just a delivery service; it’s a commitment to innovation, sustainability, and excellence. As we continue to expand and refine our network, we’re excited to bring even more value to Canadians everywhere. Thank you for choosing Gogreen Tech and supporting our mission to revolutionize delivery across Canada. #NationwideDelivery #GogreenTech #Hyperlocal #EcoFriendly #CustomerFirst #Innovation #CanadaWide #SustainableDelivery

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Despite a growing and robust Canadian tech ecosystem, the country has minted fewer than 30 unicorns in the past decade compared to the US's 700. Should Canadian VCs look to invest internationally? If so, what's the optimal approach to accessing global opportunities, navigating financial and cultural differences, and providing meaningful value? Alternatively, should they focus on strengthening the Canadian tech ecosystem? Is the lack of unicorns primarily a cultural, structural, or financial issue, or a combination? Can VCs play a role in addressing these challenges? Happy to participate in the Canadian Venture Capital & Private Equity Association (CVCA) webinar with Mana Hosseini, JD/MBA and Kim Furlong addressing these topics. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Registration link in the comments #venturecapital #startups #investing #canada

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I’m thrilled to announce Jacobi Robotics has closed a $5M Seed Round led by Moxxie Ventures. Yahav, Lars, Ken, Jeff, and I set out to build Jacobi with the goal of democratizing robotics, allowing people to focus on meaningful, creative work. Our inspiration came from the transformative progress in the field of machine learning. Just a few years ago, machine learning was limited to a small group of experts and researchers. But today, any software developer can train a production-ready machine learning model by following an online tutorial. Soon, software engineers will also be implementing production-ready robotics applications using Jacobi. We are just at the beginning of that journey, but our software has already been used by multiple organizations, including Fortune 500 companies from various sectors, and has been successfully deployed in live factories in the US. With Jacobi, our partners have seen a 95% reduction in robot commissioning time and a 24% savings in total project costs. The new investments from Moxxie Ventures, Foothill Ventures, Humba Ventures, The House Fund, and additional investments from Swift Ventures, Berkeley SkyDeck, LDV Partners, and Courtyard Ventures will enable us to accelerate our work in developing the modern software platform for robotics. I cannot express enough gratitude to everyone who has supported us at Jacobi—our customers, partners, investors, community, and our recently expanded team. Creating something of value from scratch is never easy, but with your support, we are driven to push boundaries and achieve our shared vision. The best is yet to come. Thank you to MIT Technology Review for sharing our story. - MIT Tech Review: https://lnkd.in/gXUQQiqG - Blog Post: https://lnkd.in/gsxJgvbZ Photo Credit: Marla Aufmuth

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✨ Breaking: Pender Ventures' Technology Inflection Fund II LP Announces New Fund.- Pender Ventures' Technology Inflection Fund II LP Pender Ventures focuses on Canadian B2B and health tech startups poised for scale-up, with over $100 million in available funds. https://lnkd.in/eJSYQQ4d Please share to let other #Founders know For the ❤️ of Startups #Fusion42 #Startups#Venturecapital

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