Canadian tech firms receive 11B from investors in Q3 report finds

TORONTO — A new report says Canada’s venture-capital backed companies received about $1.1 billion from investors in the third quarter of the year, with artificial intelligence firms bringing in a record amount so far this year.The PwC Canada report says 81 deals in the quarter accounted for a 21 per cent jump in activity and 110 per cent increase in funding from the previous quarter.The growth comes after two quarters of declining investment, and the quarter represents a two-year high.PwC Canada says artificial intelligence companies have received a record year of funding in 2017’s first three quarters, accounting for roughly $244 million in 22 deals.Fintech companies have received about $256 million in 27 deals so far in 2017.National technology sector leader Chris Dulny says in a statement the firm looks forward to a strong close to the year.

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