AXL Launches Venture Studio with $15M to Build 50 AI Companies, Fuelling Canada's Global Leadership in AI Research-to-Commercialization
TORONTO--(BUSINESS WIRE)--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.
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.
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.
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.
'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.'
Where research becomes scalable ventures
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.
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.
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.
'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.'
Seeing beyond the horizon
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.
'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.'
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.
'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.
Canada's path to a self-sustaining, world-leading AI ecosystem
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.
'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.'
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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
9 minutes ago
- Yahoo
With 59% ownership in Robinhood Markets, Inc. (NASDAQ:HOOD), institutional investors have a lot riding on the business
Given the large stake in the stock by institutions, Robinhood Markets' stock price might be vulnerable to their trading decisions The top 25 shareholders own 47% of the company Insiders have sold recently Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. A look at the shareholders of Robinhood Markets, Inc. (NASDAQ:HOOD) can tell us which group is most powerful. We can see that institutions own the lion's share in the company with 59% ownership. Put another way, the group faces the maximum upside potential (or downside risk). And last week, institutional investors ended up benefitting the most after the company hit US$64b in market cap. One-year return to shareholders is currently 245% and last week's gain was the icing on the cake. Let's take a closer look to see what the different types of shareholders can tell us about Robinhood Markets. See our latest analysis for Robinhood Markets Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index. We can see that Robinhood Markets does have institutional investors; and they hold a good portion of the company's stock. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Robinhood Markets' historic earnings and revenue below, but keep in mind there's always more to the story. Since institutional investors own more than half the issued stock, the board will likely have to pay attention to their preferences. We note that hedge funds don't have a meaningful investment in Robinhood Markets. The Vanguard Group, Inc. is currently the largest shareholder, with 8.4% of shares outstanding. In comparison, the second and third largest shareholders hold about 6.8% and 4.6% of the stock. Baiju Bhatt, who is the second-largest shareholder, also happens to hold the title of Top Key Executive. In addition, we found that Vladimir Tenev, the CEO has 0.8% of the shares allocated to their name. On studying our ownership data, we found that 25 of the top shareholders collectively own less than 50% of the share register, implying that no single individual has a majority interest. While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future. The definition of an insider can differ slightly between different countries, but members of the board of directors always count. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances. We can report that insiders do own shares in Robinhood Markets, Inc.. Insiders own US$5.4b worth of shares (at current prices). we sometimes take an interest in whether they have been buying or selling. With a 32% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Robinhood Markets. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies. While it is well worth considering the different groups that own a company, there are other factors that are even more important. Consider for instance, the ever-present spectre of investment risk. We've identified 1 warning sign with Robinhood Markets , and understanding them should be part of your investment process. But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Business Wire
10 minutes ago
- Business Wire
GuidePoint Security Named to Inc.'s Annual Best Workplaces List for Fifth Time
RESTON, Va.--(BUSINESS WIRE)-- GuidePoint Security, a cybersecurity solutions leader enabling organizations to make smarter decisions and minimize risk, is proud to announce it has been named to Inc.'s 2025 Best Workplaces list. From its employee-led 'Pay it Forward' peer-to-peer recognition program to its mission-driven operations, GuidePoint Security has built a standout workplace culture defined by its values, employee empowerment and commitment to excellence. This annual list honors the companies that have set the standard for workplace success and company culture. This year's list, featured on is the result of comprehensive measurement and evaluation of American companies that have excelled in creating exceptional workplaces and company cultures, whether in-person or remote. 'Being named to Inc.'s Best Workplaces list for 2025—and for the fifth time overall—is a tremendous honor for GuidePoint Security,' said Michael Volk, CEO and Chairman of GuidePoint Security. 'Our continued growth starts with our people and their unmatched expertise. This recognition reflects the culture we've built together: one where innovation thrives, customers come first and every team member is empowered to grow and succeed.' Founded in 2011, GuidePoint Security helps enterprise and government organizations address their most complex cybersecurity challenges. With a team of highly certified security practitioners, the company provides expert guidance in evaluating risk, aligning and optimizing security resources and recommending best-fit technologies through a rigorous, vendor-neutral vetting process. Today, GuidePoint Security is a trusted advisor to more than 4,200 organizations—including 40% of the Fortune 500 and over 50% of U.S. cabinet-level agencies. From its employee-led 'Pay it Forward' peer-to-peer recognition program to its mission-driven operations, GuidePoint Security has built a standout workplace culture defined by its values, employee empowerment and commitment to excellence. GuidePoint provides a strong support system for its employees and delivers on its philosophy of helping the greater good through multiple give back programs, including GuidePoint Security University (GPSU) and philanthropic support of local hospitals, community non-profits, veterans organizations and more. After collecting data from thousands of submissions, Inc. selected 514 honorees this year. The award process involved a detailed employee survey conducted by Quantum Workplace, covering critical elements such as management effectiveness, perks, professional development and overall company culture. Each company's benefits were also audited to determine overall score and ranking. 'Inc.'s Best Workplaces program celebrates the exceptional organizations whose workplace cultures address their employees' welfare and needs in meaningful ways,' said Bonny Ghosh, Editorial Director at Inc. 'As companies expand and adapt to changing economic forces, maintaining such a culture is no small feat. Yet these honorees have not only achieved it—they continue to elevate the employee experience through thoughtful benefits, engagement, and a deep commitment to their teams.' To learn more about GuidePoint Security, please visit About GuidePoint Security GuidePoint Security provides trusted cybersecurity expertise, solutions, and services that help organizations make better decisions that minimize risk. Our experts act as your trusted advisor to understand your business and challenges, helping you through an evaluation of your cybersecurity posture and ecosystem to expose risks, optimize resources and implement best-fit solutions. GuidePoint's unmatched expertise has enabled 40% of Fortune 500 companies and more than half of the U.S. government cabinet-level agencies to improve their security posture and reduce risk. Learn more at About Inc. Inc. is the leading media brand and playbook for the entrepreneurs and business leaders shaping our future. Through its journalism, Inc. aims to inform, educate, and elevate the profile of its community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating the future of business. Inc. is published by Mansueto Ventures LLC, along with fellow leading business publication Fast Company. For more information, visit About Quantum Workplace Quantum Workplace, based in Omaha, Nebraska, is an HR technology company that serves organizations through employee-engagement surveys, action-planning tools, exit surveys, peer-to-peer recognition, performance evaluations, goal tracking, and leadership assessment. For more information, visit
Axios
11 minutes ago
- Axios
Consumer spending drops in May as tariffs fuel anxiety
American shoppers slowed spending in May, as retail sales fell 0.9% last month, the Commerce Department said on Tuesday. Why it matters: The worse-than-expected figures come after consumers splurged on autos and other goods in recent months to beat tariff-related price increases. It will be difficult for economists to parse whether this is a troubling sign for the economy — or if consumers simply pulled back after stronger spending earlier this year. By the numbers: A drop in spending on autos and parts pulled down the May retail sales figure. Retail sales at motor vehicle shops fell by 3.5%, while spending at home appliance stores fell by 2.7%. Spending at gasoline stations fell by 2%, likely a result of lower pump prices. The data is not adjusted for inflation. April data was also revised lower; retail sales fell by 0.1% in the month, versus the 0.1% gain the government first estimated. The intrigue: Consumers upped spending across other categories in May, including miscellaneous retailers, hobby shops and e-commerce stores and clothing retailers.
