BlackBerry cofounder Michael Lazaridis invests in Vancouver-based AI startup
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Railtown's CEO said that former BlackBerry co-founder Michael Lazaridis brings invaluable entrepreneurial expertise that will help the company become globally competitive. Photo by ERIC WYNNE/SaltWire/Postmedia filesArticle contentBlackBerry Ltd. cofounder Mike Lazaridis is putting some of his money into Vancouver-based Railtown AI Technologies Inc. and joining its board of advisers, marking the first time he has taken on such a role outside companies he has founded.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentHe and BlackBerry cofounder Doug Fregin will lead a $3.4-million private placement in the company.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.We apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Play VideoArticle content“It’s critical that we build companies, platforms, and ecosystems here that allow Canadians to innovate, grow and compete globally,” Lazaridis said in a statement on Tuesday. “Canada develops exceptional talent, but too many feel they have to leave the country to pursue meaningful opportunities. Railtown is building foundational artificial intelligence technology in Canada, and I’m excited to support that vision.”Article contentArticle contentLazaridis and Fregin have previously supported advanced science and deep technology initiatives, launching Quantum Valley Investments and Quantum Valley Ideas Lab in 2013 and 2016, respectively, which focus on advancing quantum technology and commercialization.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentHe also founded the Institute for Quantum Computing and helped cofound the Perimeter Institute for Theoretical Physics.Article contentRailtown AI cofounder and chief executive Cory Brandolini said the former BlackBerry duo bring invaluable entrepreneurial and engineering expertise that will help the company become a globally competitive Canadian AI company.Article content“Way more than the capital is the experience from a scale standpoint,” he said. “They are phenomenally talented engineers and for us to be able to lean on that talent and experience in scaling is immense. They are also very strong advocates for Canadian technology and excited about joining to push forth on this sovereign growth strategy.”Article contentBrandolini, alongside cofounder Marwan Haddad, launched Railtown AI in 2019 as a platform to help developers build AI agents and workflows. It has staff in Vancouver and Toronto.Article contentArticle contentHe said the company is well-positioned to serve Canada’s accelerated push to develop a sovereign AI ecosystem. For example, it has inked partnerships with Telus Corp. and other AI data-hosting providers to deploy autonomous AI solutions for Canadian software companies, tie-ups he said that will help keep code, data and intellectual property under Canadian control.Article contentRead More With investors on edge about AI effects, which stocks are vulnerable or could benefit? Artificial intelligence blame for video-game industry layoffs may be misguided Article contentCanada, the United States and the European Union are key markets for the company, Brandolini said.Article content“We’re getting a lot of inbound calls from European telecommunications (providers) who are talking about data sovereignty and what is available so that they don’t have to go to Microsoft or Google or Amazon,” he said. “We’re a growing team and we’d like to handle all markets simultaneously.”Article content• Email: ylau@postmedia.com Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Play VideoArticle contentTrending John Manley: Why Canada needs to play it cool on CUSMA — and keep its options open Economy As Cuba fuel crisis deepens, Canadians on the ground remain in vacation mode News 'Escape hatches are gone': Power of sale listings surge in Toronto Real Estate Posthaste: Debt loads hit record as Canadians in financial distress pile loans on top of loans News Opinion: The rupture is here: Why Canada needs an economic security act like Japan's Economy Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. John Manley: Why Canada needs to play it cool on CUSMA — and keep its options open Economy As Cuba fuel crisis deepens, Canadians on the ground remain in vacation mode News 'Escape hatches are gone': Power of sale listings surge in Toronto Real Estate Posthaste: Debt loads hit record as Canadians in financial distress pile loans on top of loans News Opinion: The rupture is here: Why Canada needs an economic security act like Japan's Economy