Waterloo Tech Highlights for August 2025
Our goal is to provide you with a monthly primer on significant news events from private Waterloo-based technology companies in 5 minutes or less.
It’s summer and nothing is supposed to happen until after Labour Day but here we are with lots of funding and activity.
BinSentry raised $50M in a round led by Lead Edge Capital to support global expansion. They’re now monitoring over 40,000 feed bins in real time.
Friendlier raised C$4.5M of capital in a round led by Good & Well and Relay Ventures along with other existing investors. They’re raised over $10M in total. Last year they enabled the reuse of 3.3M food containers and launched partnerships with Coca-Cola, Farm Boy and UBC.
Astrus raised US$8M in a round led by Khosla Ventures and included Pradeep Sindhu (Juniper’s founder), 1517 Fund, Drive Capital, Alumni Ventures and others.
RideCo is seeing strong ongoing business growth with recent large-fleet deal wins with top-tier cities such as Atlanta, Phoenix, Houston, and San Antonio.
Equator Studios rolled out a significant price change that’s led to a 75% increase in MRR.
Swap Robotics announced their line-up of robots with interchangeable parts to lay out solar panels, move parts and cut grass.
KA Imaging had their first installations in Hong Kong this month.
Plum won an award that they earned instead of paid for (which is most awards you read about). They were the Top HR Product of 2025 winner by HR Executive. Unfortunately, they have to go to Las Vegas to get their prize.
Chris’ Thoughts
Some thoughts today in recognition of Labour Day.
There’s an interesting squeeze developing, as AI tools become good enough to replace junior worker productivity. In software and law, it’s leading to two first order effects:
1. It’s becoming more difficult to find a job as a junior software developer or young legal associate as AI tools ramp and accelerate. Roles that I thought were jobs-for-life just four years ago are dissolving at many firms I work with as they seek productivity and shift their priorities away from hiring juniors altogether which leads to…
2. A rapid increase in the price of senior talent. If you’re adept with AI tools and in your 30’s or 40’s as a lawyer or software developer, you win, because now you’re able to not only do your own work but command the equivalent of 5-10 virtual juniors. All at a fraction the cost of employing real people, and without the messiness. Demand for senior lawyers/developers rises daily and the salaries they can command continues to climb. By some accounts they’ve risen 40% in the past year or so, which probably lags the best one’s productivity increase.
So what becomes of this? Are we doomed to become like the captains of the ship in Wall-E when this super productive batch retires? I asked a few local entrepreneurs for their thoughts, banking on their general optimism and skill at finding opportunity. Here’s a few takes from local leaders:
Michael Phillips – CEO, Vena Medical
I think we can stay leaner for longer while having each employee's output significantly higher. But we have that at all stages of employees - our Co-ops use AI to get more done. If you have 30 employees getting as much done as a 300-employee company, maybe we can finally solve Canada's productivity stagnation of the last 10 years. And have more people to start more companies.
Tech CEO
As for AI, in my two businesses, I am not seeing it replace entry level jobs. It is opening lots of new use cases in our product and vertical market, which expands our TAM and product suite. This is increasing the number of jobs at both companies. It is also improving productivity simultaneously.
Jason Cassidy – CEO, Shinydocs
Regardless of entry level or senior position, the people who thrive with AI understand what "fit" means and can get to “fit” the fastest. Applies to legal work, accounting, coding, anything intellectual.
There will still be entry level jobs where the "fit" is easier, and senior jobs where the "fit" is high value, dangerous, or difficult to accurately confirm. Either way, AI will be doing the coding/accounting/legal work, and the person will confirm the fit or modify the work product until it does.
The real world is results only. So, a worker’s real value is knowing if it actually fits their goals (functionality, security, performance, quality, etc.). We need to coach people to understand what "fit" means in their field.
Tim Lichti – CEO, Swap Robotics
I think the part of an increase in automation & robotics that is not being followed nearly enough by the media is how it’s a huge boon for a solid middle-class life with hope for the future.
Case in point: At Swap a technician is getting $30 USD/hr. Over time, it may go to $30-50/hr.
Blue collar folks have been ignored for far too long. Now the conditions on the field will favour them again. I’m excited for the increase in respect & admiration coming back towards working with one’s hands & minds.
Caitlin MacGregor – CEO, Plum.io
Companies have relied too long on evaluating new hires based on "have they done the job before" aka "past experience". But AI makes the race about productivity. Who's going to be faster at re-inventing their work? The $200k+ VP of Marketing that has been doing the same thing for the past decade or the recent graduate that is a clean slate and doesn't have to unlearn the old methods. There is just as likely of a chance that the pendulum will swing back towards hiring for potential at lower salaries.
Everyone along the pay scale, either early in their career or seasoned experts need to be using AI every day to improve their work output and if they aren't, they will be left behind.
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Chris Wormald @cwormald