Palitronica, a Canadian cybersecurity firm specialising in hardware and firmware protection for safety-critical manufacturing and defence infrastructure, has closed its Series A funding round. The round was led by the Business Development Bank of Canada's Industrial Innovation Venture Fund, with participation from Three Kings Capital, Frostbite, and Unpopular Ventures. The Waterloo-based company will use the capital to accelerate research and development of its AI and cybersecurity platform, expand its team, and scale customer acquisition and international growth. The funding follows Bell Textron's selection of Palitronica to provide cyber assurance for electronics in the MV-75 Cheyenne aircraft programme. Matthew Monteyne, previously chief operating officer, has been appointed chief executive officer. Palitronica combines physics-based analysis with AI to enhance supply chain resilience in sectors including aerospace, automotive, and defence.

/CNW/ -- Investissement Québec and the Business Development Bank of Canada (BDC) have announced more than $5 millions in financing for Altex, a Quebec-based...

LoopX, a Physical AI company building machine intelligence for mining environments, has closed a $4.05 million seed round led by BDC Seed Venture Fund and Orion Industrial Ventures, with participation from Hatch. The Toronto and Sudbury-based startup will use the funding to expand its team across applied AI engineering, customer success, and go-to-market functions. Founded in 2022, LoopX develops AI systems for underground mining operations. Its platform combines thermal vision AI, edge computing, and proprietary models trained on real-world mining data to enable equipment to navigate challenging conditions. The company's applications include collision avoidance systems, automated payload measurement, and safety systems for boom machines. LoopX's technology is currently deployed across eight active mine sites with operators including Vale Base Metals and Cementation Americas.