Global and Local Funding
According to CB Insights global VC funding dropped by 34% QoQ as of Q3 2022, hitting a 9-quarter low! In Canada, the numbers were even lower with funding dropping by 65% while deals fall 19% QoQ. The total funding for Q3 reached $700M, with a total of 143 deals. With funding drying up, more startups are hitting the brakes on hiring or alternatively are “right-sizing” their teams.
New Net Jobs
Here in Atlantic Canada, the startup ecosystem saw only 16 net new jobs in Q3. That brings the total number of employed by the sector to 13,194. Of the companies that I’m tracking 20% hired employees, 58% had no change and 22% had less staff than in Q2.
Funding News
Funding ($53.25m)
- Milk Moovement Raises $26M
- ProcedureFlow Raises $12M
- Chinova Raises $6M
- The Rounds Raises $5.1M
- Novagevity Closing $2.5M Seed Round
- Halifax’s Bright Raises $1.45M
- Soricimed Raises $200K from NBIF
Acquisitions
Community News
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Top Tech Atlantic Canadian Employers in Q3 2023
Sorted by net new jobs created