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DIGEST · §02 · 60°N WEEK OF JUN 22, 2026 56.13°N · 106.35°W BEARING 099°
Digest · Issue 02

issue 02: follow the money

A funding-focused brief: who's raising in Canadian AI, who's deploying, and the open-weight model that changed the licence conversation.

a funding brief. the money moving through Canadian AI, and what it’s actually buying.

who raised

  • [FRESH-NEWS SLOT — this week's marquee Canadian raise, with source]
  • Radical Ventures closed $650M USD on its fourth early-stage AI fund, anchored by a $75M CPP Investments commitment. Context for where Canadian AI capital is pooling. (BetaKit)
  • Georgian led a $400M Series D in Replit at a $9B valuation, alongside the Replit Agent 4 launch. (PR Newswire)

what shipped

  • [FRESH-NEWS SLOT — a notable tool/model release this week, with source]
  • Mila and Inovia launched a “Venture Scientist Fund” to turn lab research into AI-native startups (the commercialisation pipe, not just the cheque). (BetaKit)

the radar

  • Waabi’s ~$1B round (Series C plus an Uber robotaxi tranche) remains the largest fundraise in Canadian history. Watch the milestone disclosures. (Waabi)
  • [FRESH-NEWS SLOT — one earlier-stage raise worth naming, with source]

worth a longer read

the Canadian sovereign-compute stack, mapped. $2B of public money, three pillars, and the gaps a founder still hits. Names and numbers, not national-pride PR. (read it)

§02 · 60°N · the weekly canadian AI digest · northofthehype.ai

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