Covariant, an AI robotics company, has announced it has raised an additional $75 million in Series C funds, bringing its total funding to $222 million. Returning investors Radical Ventures and Index Ventures co-led the round, which also saw additional funding from returning investors Canada Pension Plan Investment Board and Amplify Partners. The round also welcomed new investors Gates Frontier Holdings, AIX Ventures, and Northgate Capital. The funding will be used to ensure today's leading retailers and their logistics providers are able to deploy robotic picking quickly and without disruption to their current operations, Covariant stated. This comes at a time when retail executives are eager to invest in AI-powered robotic automation: according to a Covariant-led research survey from February 2023, more than 80% of retail leaders see automation as a key solution for navigating operational uncertainty in an unpredictable marketplace – and 98% plan to further invest in AI Robotics in 2023 despite current economic conditions.

Google's chief Canadian spokesman is leaving to become a partner with Radical Ventures, a Toronto venture-capital firm that has emerged as a leading backer of domestic artificial intelligence startups. Aaron Brindle, who has led public affairs for Google Canada for more than eight years – a period that has seen the Silicon Valley search giant establish its leadership in the global AI field in part by hiring renowned University of Toronto scientist Geoffrey Hinton – will join Radical at the end of February. He will oversee public affairs for the firm and help companies in its portfolio craft their communications. "I'm very familiar with the AI space and recognize there's fear and a lot of hype around the technology," Mr. Brindle said in an interview. "My job is to help nurture and support the AI narrative in the country. There's a capacity to effect real change around how we talk about this technology," not just around privacy and ethical concerns, but around its commercial potential.