Top 85 Toronto Startups to Watch in 2026
Toronto's startup scene is a mix of established and new companies, with a strong focus on artificial intelligence and health technology. The city is home to 85 notable startups that are attracting significant investment.
For example, advertising platform StackAdapt has raised over $536 million in funding. Meanwhile, newer companies like AI video generator Moonvalley secured $154.1 million in its first year.
Below is our list of 85 Toronto startups worth keeping an eye on.
Failory's Top 10 Picks
Ada builds an AI-native platform designed to automate customer service experiences. Companies use its tools to deploy intelligent chatbots that can resolve a high volume of customer inquiries automatically.
| Year Founded | 2016 |
| Founders | David Hariri, Mike Murchison |
| Funding Amount | $192.4M |
| Startup Size | Large Team (251-1,000) |
| Last Funding Status | Grant |
| Top Investors | Accel, Bessemer Venture Partners, Spark Capital, Giant Ventures, Tiger Global Management |
League has built a digital health platform that acts as a single front door for employees to access their health benefits. Their platform streamlines the often complex world of employee benefits by bringing health, wellness, and insurance information into one place.
| Year Founded | 2014 |
| Founders | Dan Galperin, Daniel Leibu, Michael Serbinis |
| Funding Amount | $271.1M |
| Startup Size | Large Team (251-1,000) |
| Last Funding Status | Venture Round |
| Top Investors | Workday Ventures, Foundation Capital, OMERS Ventures, BDC Venture Capital, Manulife Financial |
Moonvalley develops generative AI models that turn text prompts into high-quality, cinematic video. Their platform is designed to give creative professionals powerful tools for storytelling and visual production.
| Year Founded | 2023 |
| Founders | John Thomas, Mateusz Malinowski, Naeem Ahmed |
| Funding Amount | $154.1M |
| Startup Size | Mid-Size Team (51-250) |
| Last Funding Status | Seed |
| Top Investors | CoreWeave, General Catalyst, Bessemer Venture Partners, Khosla Ventures, Y Combinator |
StackAdapt offers a self-serve programmatic advertising platform that helps agencies and brands plan, execute, and manage data-driven campaigns. Their technology is designed to maximize performance across a range of digital channels, including native, display, video, and connected TV.
| Year Founded | 2014 |
| Founders | Ildar Shar, Vitaly Pecherskiy, Yang Han |
| Funding Amount | $536.6M |
| Startup Size | Major Organization (1,001-5,000) |
| Last Funding Status | Private Equity |
| Top Investors | Summit Partners, Teachers’ Venture Growth, Plaza Ventures, Intrepid Growth Partners, MaRS Investment Accelerator Fund |
LemFi created a financial app for Africans living abroad to manage money in both their home country and country of residence. Their platform simplifies international banking, allowing users to easily send, receive, and hold funds across borders.
| Year Founded | 2020 |
| Founders | Olalere Ridwan, Rian Cochran |
| Funding Amount | $86.9M |
| Startup Size | Mid-Size Team (51-250) |
| Last Funding Status | Series B |
| Top Investors | Y Combinator, Endeavor Catalyst, Goodwater Capital, Highland Europe, Palm Drive Capital |
Rocket Doctor has built a telemedicine marketplace for physicians to deliver advanced medical care directly to patients at home. The platform facilitates more than just video calls, providing tools that replicate the capabilities of a doctor's office for comprehensive remote care.
| Year Founded | 2020 |
| Founders | Adam Teitelman, Harry Cherniak, Justin Losier, William Cherniak |
| Funding Amount | $3.8M |
| Startup Size | Lean Team (11-50) |
| Last Funding Status | Seed |
| Top Investors | Plug and Play, f7 Ventures, Archangel Network of Funds, Emergent Medical Associates |
7. LUCID
LUCID develops digital therapeutics that use emotion AI and music to improve users' health and wellness. Their technology delivers personalized audio experiences designed to help regulate emotional states in real time.
| Year Founded | 2017 |
| Founders | Aaron Labbé, Zachary McMahon, Zoe Thomson |
| Funding Amount | CA$3.6M |
| Startup Size | Lean Team (11-50) |
| Last Funding Status | Pre-Seed |
| Top Investors | Amplify Capital, Next AI, Ontario Centre of Innovation, MEDTEQ+, NEXT Canada |
Xanadu builds photonic quantum computers designed to be accessible through their cloud platform. They also develop PennyLane, a popular open-source software library for quantum machine learning and programming.
| Year Founded | 2016 |
| Founders | Christian Weedbrook |
| Funding Amount | $268.3M |
| Startup Size | Mid-Size Team (51-250) |
| Last Funding Status | Debt Financing |
| Top Investors | Alumni Ventures, Bessemer Venture Partners, Radical Ventures, Business Development Bank of Canada, OMERS Ventures |
Waabi develops AI-powered autonomous technology for the commercial trucking industry. Their core product is the Waabi Driver, a virtual system designed to operate self-driving trucks safely and at scale.
| Year Founded | 2021 |
| Founders | Raquel Urtasun |
| Funding Amount | CA$375M |
| Startup Size | Mid-Size Team (51-250) |
| Last Funding Status | Series B |
| Top Investors | NVIDIA, Khosla Ventures, Radical Ventures, 8VC, HarbourVest Partners |
They built an online vacation rental platform for properties located on or near the water. The marketplace helps travelers discover unique waterfront stays, from lakeside cabins to oceanfront homes.
| Year Founded | 2023 |
| Founders | David Ciccarelli, Stephanie Ciccarelli |
| Funding Amount | $2.6M |
| Startup Size | Lean Team (11-50) |
| Last Funding Status | Pre-Seed |
| Top Investors | Business Development Bank of Canada |
75 Additional Toronto Startups Worth Following
But the top 10 are only a small part of what’s happening in the city. A huge number of founders are focused on AI and fintech, and they’ve raised billions of dollars to build their ideas.
You'll find companies that are brand new alongside others that have been growing for years. Here’s a look at the rest of the startups that are defining the city's tech scene.
| Startup | Industry | Year Founded | Amount Raised | Last Funding Round |
|---|---|---|---|---|
 Mycroft | AI | 2024 | $3.7M | Seed |
 Tailscale | Security | 2019 | $276.4M | Series C |
 Stablecorp | Crypto | 2019 | $7.3M | Venture Round |
 Vena Solutions | Enterprise | 2011 | $272.8M | Debt Financing |
 Cority | Healthcare | 1985 | $100M | Venture Round |
 Wealthsimple | Fintech | 2014 | CA$1.1B | Private Equity |
 Loopio | SaaS | 2014 | CA$263M | Private Equity |
 Figment | Crypto | 2018 | $164M | Venture Round |
 Avison Young | Real Estate | 1978 | $359.2M | Debt Financing |
 1Password | Security | 2005 | $920.1M | Series C |
 Relay | Fintech | 2018 | $51.6M | Series B |
 Ledn | Fintech | 2018 | $203.9M | Debt Financing |
 Hydrostor | Energy | 2010 | $2.3B | Debt Financing |
 Bench IQ | AI | 2023 | $7.4M | Seed |
 Motion | Analytics | 2021 | $42M | Series B |
 Modern Campus | Education | 1999 | $59M | Debt Financing |
 NinePoints Partners | Fintech | 2017 | $33.5M | Series B |
 Smile Digital Health | Infrastructure | 2016 | $65M | Debt Financing |
 Viral Nation | Marketing | 2014 | CA$250M | Private Equity |
 Azelis | Manufacturing | 2001 | CA$600M | Debt Financing |
 Boosted.ai | AI | 2017 | $69.5M | Venture Round |
 BioRender | Design | 2017 | $17M | Series A |
 Ollama | Infrastructure | 2021 | $125k | Pre-Seed |
 Kepler Communications | Infrastructure | 2015 | $177.1M | Series C |
 Astrus | AI | 2023 | $11.1M | Seed |
 Augmenta Inc. | Design | 2018 | $25.6M | Seed |
 Keep | Fintech | 2021 | $88.1M | Debt Financing |
 FutureVault | AI | 2015 | $5.3M | Venture Round |
 Ataccama | Analytics | 2008 | $150.5M | Venture Round |
 Porter Airlines (Canada) Limited | Travel | 2006 | CA$135M | Grant |
 Helius | Crypto | 2022 | $31.3M | Series B |
 Promise Robotics | AI | 2020 | CA$23.3M | Debt Financing |
 Cordelio Power | Energy | 2018 | $771M | Debt Financing |
 Tenstorrent | Hardware | 2016 | $1B | Series D |
 RLDatix | Healthcare | 1997 | $2B | Debt Financing |
 MolecuLight | Healthcare | 2013 | $65.2M | Venture Round |
 Ribbon | Other | 2022 | $8.2M | Seed |
 Zafin | Fintech | 2002 | $47.2M | Series B |
 BenchSci | AI | 2015 | $164.1M | Series D |
 Wisedocs | AI | 2018 | CA$24.6M | Debt Financing |
 GoBolt | Retail | 2017 | $178.3M | Series C |
 Rose Rocket | Hardware | 2015 | $63M | Series B |
 BlueRock Therapeutics | Biotech | 2016 | $225M | Series A |
 Fable | SaaS | 2018 | $37M | Series B |
 Gold Candle | Manufacturing | 2015 | $94M | Venture Round |
 ChargeLab | Mobility | 2016 | $65.4M | Series A |
 Ideogram | AI | 2022 | $96.5M | Series A |
 Common Wealth | Fintech | 2015 | CA$33.9M | Grant |
 Flybits | Analytics | 2013 | $44.1M | Series C |
 Arteria AI | AI | 2020 | $40.9M | Series B |
 Together | Enterprise | 2018 | $1.5M | Venture Round |
 SWTCH | Environment | 2016 | $48.9M | Grant |
 Financeit | Fintech | 2007 | $570.6M | Debt Financing |
 Optimity | Healthcare | 2014 | $5M | Series A |
 Power Dime | AI | 2024 | CA$220k | Pre-Seed |
 FlipGive | Marketing | 2012 | $11.7M | Series B |
 Aypa Power | Energy | 2016 | $2.7B | Debt Financing |
 Flipp | Marketing | 2006 | $62M | Private Equity |
 Peakhill Capital | Real Estate | 2019 | $225M | Debt Financing |
 Alida | Analytics | 2000 | $144.4M | Debt Financing |
 Muse | Hardware | 2007 | $39.9M | Series C |
 Spellbook | AI | 2018 | $32.5M | Series A |
 Float Financial | Fintech | 2019 | $120.5M | Series B |
 Humi | Enterprise | 2016 | $47.4M | Series B |
 Blue J | AI | 2015 | $142M | Series D |
 d1g1t | Analytics | 2017 | $24.4M | Venture Round |
 e-Zinc | Energy | 2012 | $73.2M | Series A |
 Thentia Cloud | Enterprise | 2014 | $75.5M | Series B |
 MedMe Health | Enterprise | 2019 | $3.5M | Debt Financing |
 Borderless AI | AI | 2022 | $25M | Seed |
 Parallel | Crypto | 2021 | $85M | Venture Round |
 Knix Wear | Fashion | 2012 | $60.3M | Series B |
 Vector Institute | AI | 2017 | $29.6M | Grant |
 Maple Leaf Sports & Entertainment | Media | 1931 | CA$4.7B | Secondary Market |
 Tensor Labs | Enterprise | 2022 | $3M | Seed |
