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September Wrap-Up: Money, rankings and manufacturing

Posted by Waterloo EDC on October 1, 2020

As we step into autumn, September successes demonstrate the incredible adaptability of Waterloo’s manufacturing sector and the high growth of some of our tech ecosystem’s shining stars.

Here are the top business and investment stories from September 2020:

Waterloo now home to 90+ PPE manufacturers

Over the past six months, Waterloo has become a PPE manufacturing powerhouse. Before COVID-19, our community had limited PPE manufacturing capacity, but today, our companies are producing everything from N95 respirators to syringes. Read our full story on this monumental PPE pivot.

12 Waterloo companies on The Globe and Mail's list of fastest growing Canadian companies

Waterloo was well represented on The Globe and Mail’s list of Canada’s top growing companies. Read our article to find out which companies made the cut and find out why so many Waterloo companies were included.Download the Waterloo AI Cluster Map Now!

DarwinAI updates their COVID detection story

Earlier in 2020, Waterloo-based artificial intelligence startup DarwinAI set out to develop a neural network capable of detecting coronavirus using just a simple chest x-ray. Six months later, the company says that its solution doesn’t only detect the disease – it may be able to determine the severity of individual cases. Read the full story from the Waterloo Region Record.

Waterloo a highlight on Site Selection Magazine's list of top Canadian regions

Site Selection Magazine’s 2020 ranking of the best locations in Canada highlighted Waterloo’s incredible tech credentials and named Ontario the best province for FDI. Check out the article we wrote to learn about why Waterloo was included and read Site Selection’s initial publication for more information about what makes the region so competitive.

University of Waterloo becomes a 5G campus

One of the world’s leading tech universities, the University of Waterloo has become one of the first 5G smart campuses in Canada as part of a partnership with Rogers Communications. The University of Waterloo’s research office has the full story.

ApplyBoard raises CAD$70 million and partners with US-based ETS to expand online school-application platform

Four months after reaching unicorn status, ApplyBoard raised another CDN$70 million and partnered with ETS to expand their application platform and provide international students with a complete online application experience. We wrote an article about ApplyBoard’s journey and how Waterloo was the perfect place for them to grow (and don’t miss our original story about their unicorn valuation!).

Two Waterloo startups raise money to drive expansion

Two local tech startups continued the fundraising success this month, with ProNavigator raising CAD$5.6M and Acerta Analytics securing USD$5M in a series A round. ProNavigator is working closely with Wawanesa Mutual Insurance Company as part of its next phase of growth and Acerta, an AI company that works in both the automotive and manufacturing spaces, is pushing into international markets. Clearpath Robotics, a local scale-up, also added $6.6M as an extension of the $40M raise they announced in June.


Do you want to learn more about Waterloo’s diverse business community? Check out our website or contact our team today!

Topics: technology, manufacturing, talent, business, artificial intelligence, R&D