Inside Canada’s booming cleantech startup sector

Plus, how to hire while avoiding future layoffs November 3, 2023 Hi, {NAME}. When it comes to cleantech investment, famously cold Canada might seem like an unlikely hot spot. Recent funding trends, however, indicate its star is on the rise. So far this year, [nearly a billion dollars in seed through growth-stage funding has gone to Canadian startups in sustainability-focused industries]( tracked in the Crunchbase dataset. Plus, we look at [what’s going on with VC funding to self-driving cars]( and [how to hire while avoiding future layoffs](. 🇨🇦 [Oh, Canada: Country’s cleantech sector is booming]( The upward momentum in Canadian cleantech funding is especially notable given that global venture funding has [fallen sharply]( since the 2021 peak. Moreover, some of the rounds are conspicuously large. Standout sectors include carbon capture, geothermal energy and utility-scale solar. Related Crunchbase Pro list: [Canadian Cleantech Startup Investment]( 🚗 [Autonomous vehicle funding stuck in neutral]( [Cruise]( the autonomous vehicle startup backed by [General Motors]( last week said it is suspending its operations around the country after it lost its permits to operate in San Francisco following an incident between one of its cars and a pedestrian. While the move is the latest blow to the self-driving car sector, an analysis of [Crunchbase data]( shows investors lost their enthusiasm for autonomous vehicles some time ago. Related Crunchbase Pro list: [Autonomous Vehicles Startup Funding]( 💼 [How to hire while avoiding future layoffs]( [Tech layoffs]( seem to be on the rise once again. Yet at the same time, some companies are announcing massive hiring sprees. If you’re a startup CEO who wants to fill new roles but you’re worried about the potential for future layoffs, executive coach [Alisa Cohn]( offers advice on how to ramp up hiring — while avoiding future job cuts. See also: [The Crunchbase Tech Layoffs Tracker]( 🛍️ [VCs no longer do DTC]( Direct-to-consumer brands — a staple category for startup investors a couple years ago — have mostly disappeared from the ranks of funded companies today, Crunchbase data shows. Related Crunchbase Pro list: [Funding To Companies At The Intersection Of Consumer Products And E-Commerce]( 📝 [Biden’s AI order may have wide impact for startups]( The Biden administration on Monday released an executive order laying out a broad range of safety and security requirements around the use of artificial intelligence technology. The standards — which range from setting requirements for red-team testing to affixing labels on AI-generated content — [could have a wide impact on how AI-focused companies, and startups in particular]( develop and release new iterations of their products. Related Crunchbase Pro list: [US Funding To AI-Related Startups]( 🇮🇱 [Fund launches to support early-stage Israeli startups through war]( Iron Nation, a new volunteer emergency impact fund designed to help early-stage Israeli startups continue operating amid the nation’s war with Hamas, launched this week. The fund aims to raise $20 million to support post-seed venture-backed startups in Israel, [where an estimated 15-20% of the tech workforce has been called up]( to serve as military reservists in Israel’s counteroffensive against the terrorist group. The fund collects no management fees or carried interest. 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