Complete List of Funded Canada Startups in 2026: Latest Funding Announcements & Data

📅 Last Updated: December 31, 2025 | New Canada startups added weekly

Looking for recently funded Canada startups? You’re in the right place. Canada’s tech ecosystem has evolved into one of North America’s most vibrant innovation hubs, with Canadian startups raising $8.2 billion in 2024 and establishing Toronto, Vancouver, and Montreal as global tech leaders.

Our team tracks Canada startup funding announcements every week, maintaining the most comprehensive database of verified contacts, funding details, and company intelligence. Below, you’ll find 100 recently funded Canada startups with actionable data you can use today.

👉 Jump to the List of 100 Funded Canada Startups

Quick Stats: Canadian Startup Funding in 2025

• 📍 Major hubs: Toronto, Vancouver, Montreal, Waterloo
• 💰 Total funding 2024: $8.2 billion across 420+ deals
• 🏢 Canada Startups tracked: 1,240 companies in our database
• 📈 Growth rate: 62% increase year-over-year
• 🎯 Top sectors: AI & ML (32%), FinTech (24%), HealthTech (19%)

Why Canada Startups Are Leading North American Innovation

Canada startups have rapidly emerged as serious competitors to U.S. tech companies, attracting billions in venture capital and producing multiple unicorns. The nation’s tech sector now employs over 1.7 million people and contributes more than $230 billion annually to the Canadian economy. Several factors drive momentum for Canada startups:

• World-Class AI Research: Canada is home to pioneering AI research institutions including the Vector Institute (Toronto), Mila (Montreal), and Amii (Alberta), producing groundbreaking work in machine learning and artificial intelligence
• Government R&D Support: The Scientific Research and Experimental Development (SR&ED) tax credit provides up to $3.5 million annually in cash refunds for innovation, while programs like the Strategic Innovation Fund deploy billions in growth capital
• Immigration-Friendly Policies: The Startup Visa Program attracts global founders, and streamlined work permits make Canada a talent magnet for international engineers and entrepreneurs
• Lower Operating Costs: Compared to San Francisco or New York, Canadian cities offer 30-40% lower salaries and office costs while maintaining comparable talent quality
• Gateway to North America: Canadian startups can access both U.S. markets (through USMCA trade agreements) and international expansion while maintaining a stable regulatory environment

According to the Startup Canada report 2024, the sector is projected to add $320 billion in value to the economy by 2030, reinforcing the position of Canada startups as global innovation leaders.

Recently Funded Startups in Canada

Below is our curated database of the 100 most recently funded Canadian startups. This data is updated weekly and sourced from Crunchbase, SEDAR filings, government databases, and direct company announcements from Canada startups.

Canadian Startups at a Glance

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• Number of Canadian startups in our database: 1,623
• Number of verified email addresses in our database: 2,171
• Number of social profiles in our database: 4,141
• Other data points stored: 22,902
• Total funding raised in 2024: $5,966,196,770
  • Seed: $472,729,357
  • Series A: $825,375,416
  • Series B: $1,058,414,021
  • Series C: $343,416,867
  • Other funding*: $2,069,766,941
• Total funding raised in 2025: $1,055,801,777

*Other funding includes private equity, debt financing, and various other types of capital.

Top Industries for Canada Startups

AI & Machine Learning Dominance

Canada startups have established the country as a global AI powerhouse, with Toronto and Montreal ranking among the world’s top AI research hubs. AI startups in Canada raised over $2.6 billion in 2024, representing 32% of all startup funding. The sector benefits from world-leading research institutions and government support through programs like the Pan-Canadian AI Strategy ($125 million investment).

Major success stories among Canada startups include Cohere (enterprise AI, valued at $5+ billion), Element AI (acquired by ServiceNow for $500 million), and Scale AI (Montreal-based supply chain AI supercluster). The ecosystem continues to produce innovative companies in natural language processing, computer vision, and reinforcement learning. Canadian AI companies now employ over 30,000 people across 450+ organizations.

FinTech Innovation

FinTech startups in Canada captured $2 billion in funding during 2024, with particular strength in payments, lending, and wealth management. Canada startups in the fintech sector benefit from strong regulatory support through the Canadian Fintech & Funding Association and partnerships with major banks exploring digital transformation.

The sector has produced notable Canada startups like Wealthsimple (investment platform, valued at $4 billion), Nuvei (payments, publicly traded), Neo Financial (challenger bank, valued at $1 billion), and Borrowell (credit monitoring and lending). Toronto’s fintech ecosystem alone hosts over 200 companies and has created 15,000+ jobs.

HealthTech & Digital Health

HealthTech startups in Canada raised $1.5 billion in 2024, driven by an aging population, universal healthcare system creating data infrastructure, and COVID-19 accelerating digital health adoption. The sector includes telemedicine platforms, medical devices, digital therapeutics, and health data analytics companies.

Success stories among Canada startups include Dialogue (virtual care platform, valued at $1.5 billion), CloudMD (integrated health platform, publicly traded), and WELL Health (digital healthcare provider, publicly traded). Canada’s universal healthcare system provides both a testing ground for innovations and clear pathways to market adoption for Canada startups.

CleanTech & Sustainability

With abundant renewable energy resources and aggressive climate commitments, CleanTech startups in Canada attracted $1.2 billion in 2024. The sector spans renewable energy, carbon capture, sustainable materials, and circular economy solutions.

Notable Canada startups include Carbon Engineering (direct air capture, backed by Bill Gates and Chevron), Nexii (sustainable building materials), General Fusion (fusion energy), and Li-Cycle (battery recycling, publicly traded). The Canadian government’s Net-Zero Accelerator has deployed over $8 billion to support clean technology innovation.

Canada Startup Hubs: City-by-City Breakdown

Toronto: Canada’s Startup Capital

Toronto dominates the Canadian startup landscape, accounting for approximately 40% of all venture capital investment. The city’s advantages include North America’s third-largest tech talent pool (after San Francisco and New York), proximity to U.S. markets, diverse population creating multicultural product perspectives, and the largest concentration of venture capital in Canada.

Key Toronto startup districts include MaRS Discovery District (the Western Hemisphere’s largest urban innovation hub), Communitech (Kitchener-Waterloo corridor), and Toronto’s Financial District. Major companies headquartered in Toronto include Shopify (e-commerce platform, valued at $100+ billion), Wealthsimple (fintech), and Cohere (AI infrastructure). Toronto’s ecosystem has produced 18 unicorns.

Montreal: AI Research Capital

Montreal has emerged as North America’s AI research epicenter, thanks to pioneering work by Yoshua Bengio (Turing Award winner) and institutions like Mila (Quebec Artificial Intelligence Institute). The city raised approximately $1.8 billion across 140+ deals in 2024, representing 22% of national startup funding.

Montreal’s advantages include world-class AI research talent, lower costs compared to Toronto (30% cheaper), bilingual talent pool enabling European expansion, and strong government support through programs like Investissement Québec. Notable Montreal startups include Dialogue (telemedicine), Lightspeed (retail POS, publicly traded), and Element AI (acquired by ServiceNow).

Vancouver: Pacific Gateway

Vancouver’s startup ecosystem has experienced rapid growth, with funding increasing 85% between 2023 and 2024. The city is establishing itself as a center for gaming, digital media, and cleantech, leveraging British Columbia’s film industry heritage and environmental priorities.

The BC government’s Innovate BC provides $100 million annually in startup support. Notable Vancouver companies include Lululemon’s digital division, Hootsuite (social media management), Article (e-commerce furniture), and Carbon Engineering (carbon capture). Vancouver serves as a Pacific gateway for Asia-Pacific expansion.

Waterloo: Engineering Powerhouse

The Kitchener-Waterloo region, centered around the University of Waterloo, has become Canada’s most important engineering talent hub. The region produces over 6,500 engineering graduates annually and hosts major tech company offices from Google, Apple, and Meta.

Notable Waterloo startups include ApplyBoard (education platform, valued at $4 billion), Faire (wholesale marketplace, valued at $12 billion), and D2L (learning management system). The Communitech hub provides accelerator programs, co-working space, and connections to over 1,400 startups.

Canadian Startup Funding Trends

Series A Momentum

Canadian startups raised significant Series A funding in 2024, with rounds ranging from $10 million to $50 million. The median Series A size increased to $22 million, up from $15 million in 2023, reflecting investor confidence in proven business models.

Notable Series A rounds include:

• Ada (Customer Service AI): $40 million led by Accel
• Felix (Digital Health): $25 million led by iNovia Capital
• Bridgit (Construction Tech): $18 million led by JMI Equity

This trend indicates Canadian startups are successfully scaling past initial product-market fit, with investors backing companies demonstrating clear revenue traction and unit economics.

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Late-Stage Growth Capital

Late-stage funding (Series B and Series C) in Canada totaled $3.1 billion in 2024. While smaller than early-stage investment, this represents healthy ecosystem maturation with companies scaling successfully.

Major late-stage rounds included:

• Cohere: $500 million Series D (AI infrastructure)
• Faire: $120 million Series G (wholesale marketplace)
• ApplyBoard: $75 million Series D (education platform)

International investors including Tiger Global, Insight Partners, and Sequoia Capital are increasingly participating in Canadian late-stage rounds, validating the ecosystem’s maturity.

Government Support & Incentives

The Canadian government provides substantial support for startups through multiple programs:

• SR&ED Tax Credit: Offers up to $3.5 million annually in cash refunds for R&D expenses, providing critical cash flow for early-stage companies
• Strategic Innovation Fund: Deploys $1.26 billion annually for innovation and clean technology commercialization
• Industrial Research Assistance Program (IRAP): Provides grants and advisory services to help startups scale
• Export Development Canada: Offers financing and insurance for Canadian companies entering international markets

Provincial governments also offer targeted programs, with Ontario’s Innovation Programs, Quebec’s Investissement Québec, and BC’s Innovate BC providing additional support layers.

How Canada Compares to Other Startup Ecosystems

Canada vs. United States

While the U.S. startup ecosystem is much larger ($238 billion raised in 2024 vs. Canada’s $8.2 billion), Canadian startups demonstrate competitive performance on a per-capita basis. Canada benefits from:

Lower operating costs: 30-40% lower salaries and office expenses compared to San Francisco or NYC
Better talent retention: Stable immigration policies and quality of life reduce employee turnover
Government support: More generous R&D tax credits and startup grants than most U.S. states
Healthcare: Universal healthcare reduces employee benefit costs by 15-20%

However, U.S. markets offer advantages including larger domestic market for validation, deeper late-stage capital pools, more experienced executive talent, and proximity to major customers. Many successful Canadian startups maintain dual headquarters (Toronto/San Francisco or Vancouver/Seattle) to capture benefits of both ecosystems.

Canada vs. United Kingdom

The UK startup ecosystem raised £10.8 billion in 2024 (approximately $13.7 billion USD), making it comparable to Canada in funding volume. Both countries serve as bridges to larger markets—Canada to the U.S., UK to Europe.

Canada’s advantages: More generous R&D tax credits, easier immigration pathways for tech talent, proximity to U.S. customers without Brexit complications
UK’s advantages: Access to European markets, London’s status as global financial center, more mature venture capital ecosystem

London startups excel in fintech, while Canadian startups lead in AI and cleantech. Both ecosystems face similar challenges competing with Silicon Valley for late-stage capital and executive talent.

Canada vs. Australia

Australia startups raised $5.4 billion in 2024, making Canada’s ecosystem approximately 50% larger. Both countries share similar characteristics:

Similarities: English-speaking, immigration-friendly, strong government R&D support, bridge markets to larger regions (Asia-Pacific for Australia, U.S. for Canada)
Canada leads in: AI research infrastructure, proximity to U.S. markets, late-stage funding availability
Australia leads in: Asia-Pacific market access, fintech regulation, mining/resource innovation

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Frequently Asked Questions About Canadian Startups

Related Startup Ecosystems

Exploring startup ecosystems beyond Canada? Check out our other comprehensive guides:

• Recently funded startups in the USA
• Recently funded startups in NYC
• Recently funded startups in San Francisco
• Recently funded startups in the UK
• Recently funded startups in Australia
• Recently funded startups in Germany
• Recently funded startups (all countries)