AXL Launches Venture Studio with $15M to Build 50 AI Companies, Fuelling Canada's Global Leadership in AI Research-to-Commercialization
Article content
TORONTO — Today, AXL, a new Canadian venture studio transforming world-class AI research into high-growth companies, has launched with a plan to build 50 AI-powered companies over the next five years to fuel Canada's research-to-commercialization pipeline. This is enabled by an oversubscribed first closing of its venture fund of $15 million CAD. With this, AXL will form and scale homegrown innovation — and keep it here.
Article content
Daniel Wigdor, one of Canada's top innovators and AXL's Co-Founder and CEO, is reinvesting back into the Canadian tech ecosystem as the fund's lead investor, following the sale of his previous company, Chatham Labs, to Meta, where he served as the founding director of their Toronto research centre.
Article content
Article content
AXL is also backed by a coalition of successful Canadian entities and strategic industry investors rallying around the future of AI in Canada, including David Martin, Founder of Smart Technologies; Gord Kurtenbach, former Head of Autodesk Research; Joshua Greer, Founder of Real-D; Frank Mersch, Chief Investment Officer and Senior Portfolio Manager of Front Street Capital; Rob McEwen, Chairman and Chief Owner of McEwen Mining; and many of Canada's leading professors in applied AI.
Article content
As the global AI race heats up, Canada faces mounting pressure to retain its intellectual property and top talent to secure its leadership. Over the past decade, American firms have acquired 70 Canadian AI companies and counting, while Silicon Valley firms have opened large local offices, resulting in the loss of valuable intellectual property and potential upside. According to a study by Element AI in 2018, Canada experienced a net talent outflow, underscoring the challenge of retaining its top AI minds.
Article content
'Canada has a long history of pioneering breakthroughs, including AI, yet we've repeatedly failed to capture the value of our own innovations as our talent and biggest ideas scale somewhere else,' said Daniel Wigdor, Co-Founder and CEO of AXL. 'We're here to change that by connecting Canada's AI excellence with real market needs and the full-stack support that founders need to win globally.'
Article content
Where research becomes scalable ventures
Article content
Founded by a team of seasoned tech entrepreneurs and executives — Daniel Wigdor, Tovi Grossman, David Sharma, and Ray Sharma — AXL combines decades of experience scaling companies worldwide in a mission to bridge cutting-edge research with commercial success.
Article content
AXL's proprietary venture studio model integrates access to AI research from the University of Toronto with market insights from Canada's top businesses through its AI Catalyst program. In this corporate partnership initiative, leading Canadian companies like Dillon Consulting partner with AXL to investigate how AI could reshape their businesses, often becoming the first customer and strategic investor in resulting ventures.
Article content
This blend creates an environment where ventures are rooted in validated industry demand, supported by a full-stack team that manages everything from prototype and application development to legal, finance, sales, and growth strategies.
Article content
'Our corporate partnerships are the engine that transforms lab breakthroughs into ventures with real-world traction,' said David Sharma, Chief Growth Officer at AXL. 'By collaborating directly with Canada's private sector, we ensure that innovation is guided by genuine industry needs and positioned for rapid adoption. This approach closes a critical gap in Canada's innovation system, turning bright ideas into scalable solutions that deliver long-term value for our partners and the broader economy.'
Article content
Seeing beyond the horizon
Article content
NVIDIA's Jensen Huang has called Canada the 'Epicentre of Modern AI,' but what's lesser known is Canada's leadership in applied computing, the field that converts foundational research into practical tools. Applied computing bridges the gap between advanced technology and everyday life, making advanced technology more accessible to all.
Article content
'The transformative power of AI will come from impactful, practical applications, not just large models or infrastructure,' said Wigdor. 'Focusing solely on building bigger models risks missing the real opportunities in creating tools that genuinely empower people and open new possibilities in our daily lives.'
Article content
Canada's 'AI moment' is here. It's a once-in-a-generation opportunity to fundamentally shift the balance of power in the tech industry. While the rest of the world rushes to commoditize infrastructure, AXL can see past that horizon by investing in the application layer, well beyond what Silicon Valley is currently betting on.
Article content
'If we do this right, we won't be saying things like 'Toronto is the Silicon Valley of Ontario.' Two decades from now, San Francisco will be trying to brand itself the 'Toronto of California,'' added Wigdor.
Article content
Canada's path to a self-sustaining, world-leading AI ecosystem
Article content
AXL is committed to nurturing a new generation of founders by providing capital, mentorship, operations, and the infrastructure necessary to turn ideas into impactful ventures, with the broader mission of creating a thriving, self-sustaining AI ecosystem that retains talent, intellectual property, and economic prosperity within Canada.
Article content
'We believe that Canadian entrepreneurs deserve the opportunity to build and scale world-class AI-powered companies here at home,' added Wigdor. 'With AXL, we're creating the infrastructure and community needed to transform innovation into lasting impact.'
Article content
To learn more about how AXL is fuelling Canada's AI research to commercialization pipeline, visit their website at www.axl.vc. ABOUT AXL AXL is a Canadian venture studio transforming world-class research into high-growth companies that shape the future of applied AI. Led by seasoned tech entrepreneurs and applied AI experts, AXL's mission is to ensure Canada's top breakthroughs are built and scaled at home. By connecting academia with real market demand and full-stack venture creation, AXL helps Canada move from invention to impact, anchoring talent, intellectual property, and long-term economic value within the country.
Article content
Article content
Article content
Article content
Contacts
Article content
Article content
Article content
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
31 minutes ago
- Globe and Mail
How Did International Comps Boost Costco's Q3 Growth Story?
Costco Wholesale Corporation 's COST third-quarter fiscal 2025 results underscored the growing impact of international operations on overall comparable sales performance. Adjusted for gasoline prices and foreign exchange, total company comparable sales rose 8%. The 'Other International' segment, which includes regions outside the United States and Canada, delivered a standout 8.5% adjusted comparable sales increase, surpassing both the United States (up 7.9%) and Canada (up 7.8%). Traffic in international warehouses climbed 4.8%, closely trailing the company-wide average of 5.2% and indicating solid engagement across newer markets. Moreover, the adjusted average ticket internationally rose 3.6%. These figures highlight the burgeoning strength of Costco's footprint beyond its domestic market. Management emphasized that a shift toward more localized sourcing has supported margin preservation and pricing agility abroad. For instance, sourcing Kirkland Signature laundry products within Asia allowed for a 40% price reduction in those markets, strengthening member value while navigating tariff complexity. The strategy of rerouting tariff-sensitive goods to non-U.S. regions also helped optimize inventory deployment and margin outcomes. That said, international markets were a key pillar of Costco's third-quarter performance. While often overshadowed by U.S. operations, the Other International regions highlight the effectiveness of the company's globally coordinated yet locally tailored model. Even amid shifting trade dynamics, this approach continues to unlock consistent sales momentum. Adjusted comparable sales for Other International regions remained strong in May, rising 8.4%. Sales Scorecard: How DG and TGT Stack Up Against Costco Dollar General Corporation DG reported a 2.4% increase in first-quarter fiscal 2025 same-store sales, driven by a 2.7% rise in the average transaction amount, though partially offset by a 0.3% decline in customer traffic. Dollar General witnessed growth across all key product categories, including consumables, seasonal, home products and apparel. Dollar General now expects same-store sales to rise between 1.5% and 2.5% compared to its prior forecast of 1.2% to 2.2%. Target Corporation TGT experienced a 3.8% decline in comparable sales, following a 1.5% increase in the preceding quarter. This drop was attributed to a 5.7% fall in Target's comparable store sales, which was somewhat offset by a 4.7% increase in comparable digital sales. Target highlighted that traffic, or the number of transactions, dropped 2.4%, and the average transaction amount decreased 1.4%. Costco's Price Performance, Valuation and Estimates Costco stock has been a standout performer, with shares rallying 16.5% in the past year, outpacing the industry 's growth of 7.2%. From a valuation standpoint, Costco's forward 12-month price-to-earnings ratio stands at 50.34, higher than the industry's ratio of 32.3. COST carries a Value Score of D. The Zacks Consensus Estimate for Costco's current financial-year sales and earnings per share implies year-over-year growth of 8.1% and 12%, respectively. Costco currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Zacks Names #1 Semiconductor Stock It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom. With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028. See This Stock Now for Free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Target Corporation (TGT): Free Stock Analysis Report Dollar General Corporation (DG): Free Stock Analysis Report Costco Wholesale Corporation (COST): Free Stock Analysis Report This article originally published on Zacks Investment Research (
National Post
35 minutes ago
- National Post
Learn to edit and create professional-looking videos with minimal effort
This article was created by StackCommerce. Postmedia may earn an affiliate commission from purchases made through our links on this page. Article content Entrepreneurs often need to create high-quality video content for marketing, training or client engagement, but may not have the time or resources for a full video production team. However, recent AI improvements have made it possible to automate much of the creative process. With the right tools, business owners can now produce professional, on-brand content from their desktops without relying on outside editors or design teams. Article content Article content Canvid is an AI-powered video creation and screen recording platform that simplifies this process. Designed for business users, it enables the production of polished tutorials, product demos and presentations using built-in automation and intelligent editing tools. For entrepreneurs balancing content creation with other day-to-day responsibilities, Canvid helps reduce production time while maintaining a high standard of visual quality. Article content Available for both Windows and Mac, Canvid offers a suite of intelligent features including one-click screen recording, automatic zoom, motion effects and real-time voice enhancement. These tools are particularly useful for explaining digital workflows, showcasing software or creating professional training materials. Article content Users can also take advantage of built-in auto-captioning, customizable layouts and webcam background removal, which help produce content that looks branded and consistent, even in less-than-ideal recording environments. Article content Canvid is a one-time purchase that includes lifetime access to the core software and unlimited video exports. Users can record in up to 4K resolution and work across three devices. The purchase also includes two years of product updates and 50GB of cloud storage. After this period, cloud access can be renewed, but the core recording and editing features remain fully functional without additional payment. Article content Article content For business owners seeking a cost-effective solution for video creation, Canvid presents a practical option. It eliminates the complexity of traditional editing software while offering the functionality needed to produce clear, professional content. Article content
National Post
35 minutes ago
- National Post
Lululemon sues Costco for selling alleged dupes of its products
Lululemon Athletica Canada Inc. is accusing Costco Wholesale Corp. of infringing on its intellectual property by selling knockoffs of some of its most popular products. Article content A lawsuit filed in a California court recently alleges Costco sells dupes of Lululemon's Scuba hoodies and sweatshirts, Define jackets and ABC pants. Article content Some of the alleged fakes Vancouver-based Lululemon identified are sold under Costco's private label Kirkland, but others are made by manufacturers Danskin, Jockey and Spyder. Article content Article content 'Some customers incorrectly believe these infringing products are authentic Lululemon apparel while still other customers specifically purchase the infringing products because they are difficult to distinguish from authentic Lululemon products, particularly for downstream purchasers or observers,' the lawsuit says. Article content Article content Lululemon alleges these scenarios take advantage of patents it holds, as well as the reputation and goodwill it has built with customers. Article content Lululemon has requested the matter be heard by a jury trial, which it wants to order Costco to cease manufacturing, importing, marketing and selling the alleged dupes. Article content It also wants the Washington-based retailer to remove any instances where it was advertising alleged dupes online or in print and is asking the court to require Costco to cover any lost profits Lululemon incurred from the products. Article content Article content Costco did not immediately respond to a request for comment. It has yet to file a response to Lululemon's lawsuit. Article content Article content Dupes have become incredibly popular in recent years as shoppers looked to cope with inflation and a global trade war by seeking products mimicking the originals made by name brands. Article content While knock-off cosmetics are especially popular, Lululemon has also become a target because it sells its athletic wear at higher prices, which some customers find unattainable. The lawsuit comes weeks after Lululemon said it would try to weather new and possibly incoming tariffs with price increases that will be 'modest in nature' and applied only to a 'small' portion of its products. Article content The brand has been working to bounce back from a lack of newness that disappointed consumers last year and earlier this year. Article content Newness — how fresh a brand's products and styles appear to consumers — is one of the key ways retailers draw in customers. Article content
