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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.
Everything you need to raise funding for your startup, including 3,500+ investors, 7 tools, 18 templates and 3 learning resources.
Buy It For $97 $297 →Information about the industries, countries, and cities they generally invest in.
Get the Sheet for $50Information about their valuation, HQ's location, founded year, name of founders, funding amount and number of employees.
Get the Sheet for $50List of startup investors in the BioTech, Health, and Medicine industries, along with their Twitter, LinkedIn, and email addresses.
Get the Sheet for $50List of 250 startup investors in the AI and Machine Learning industries, along with their Twitter, LinkedIn, and email addresses.
Get the Sheet for $50List of 250 startup investors in the FinTech and Finance industries, along with their Twitter, LinkedIn, and email addresses.
Get the Sheet for $50Ada 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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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 |
|---|---|---|---|---|
| AI | 2024 | $3.7M | Seed | |
| Security | 2019 | $276.4M | Series C | |
| Crypto | 2019 | $7.3M | Venture Round | |
| Enterprise | 2011 | $272.8M | Debt Financing | |
| Healthcare | 1985 | $100M | Venture Round | |
| Fintech | 2014 | CA$1.1B | Private Equity | |
| SaaS | 2014 | CA$263M | Private Equity | |
| Crypto | 2018 | $164M | Venture Round | |
| Real Estate | 1978 | $359.2M | Debt Financing | |
| Security | 2005 | $920.1M | Series C | |
| Fintech | 2018 | $51.6M | Series B | |
| Fintech | 2018 | $203.9M | Debt Financing | |
| Energy | 2010 | $2.3B | Debt Financing | |
| AI | 2023 | $7.4M | Seed | |
| Analytics | 2021 | $42M | Series B | |
| Education | 1999 | $59M | Debt Financing | |
| Fintech | 2017 | $33.5M | Series B | |
| Infrastructure | 2016 | $65M | Debt Financing | |
| Marketing | 2014 | CA$250M | Private Equity | |
| Manufacturing | 2001 | CA$600M | Debt Financing | |
| AI | 2017 | $69.5M | Venture Round | |
| Design | 2017 | $17M | Series A | |
| Infrastructure | 2021 | $125k | Pre-Seed | |
| Infrastructure | 2015 | $177.1M | Series C | |
| AI | 2023 | $11.1M | Seed | |
| Design | 2018 | $25.6M | Seed | |
| Fintech | 2021 | $88.1M | Debt Financing | |
| AI | 2015 | $5.3M | Venture Round | |
| Analytics | 2008 | $150.5M | Venture Round | |
| Travel | 2006 | CA$135M | Grant | |
| Crypto | 2022 | $31.3M | Series B | |
| AI | 2020 | CA$23.3M | Debt Financing | |
| Energy | 2018 | $771M | Debt Financing | |
| Hardware | 2016 | $1B | Series D | |
| Healthcare | 1997 | $2B | Debt Financing | |
| Healthcare | 2013 | $65.2M | Venture Round | |
| Other | 2022 | $8.2M | Seed | |
| Fintech | 2002 | $47.2M | Series B | |
| AI | 2015 | $164.1M | Series D | |
| AI | 2018 | CA$24.6M | Debt Financing | |
| Retail | 2017 | $178.3M | Series C | |
| Hardware | 2015 | $63M | Series B | |
| Biotech | 2016 | $225M | Series A | |
| SaaS | 2018 | $37M | Series B | |
| Manufacturing | 2015 | $94M | Venture Round | |
| Mobility | 2016 | $65.4M | Series A | |
| AI | 2022 | $96.5M | Series A | |
| Fintech | 2015 | CA$33.9M | Grant | |
| Analytics | 2013 | $44.1M | Series C | |
| AI | 2020 | $40.9M | Series B | |
| Enterprise | 2018 | $1.5M | Venture Round | |
| Environment | 2016 | $48.9M | Grant | |
| Fintech | 2007 | $570.6M | Debt Financing | |
| Healthcare | 2014 | $5M | Series A | |
| AI | 2024 | CA$220k | Pre-Seed | |
| Marketing | 2012 | $11.7M | Series B | |
| Energy | 2016 | $2.7B | Debt Financing | |
| Marketing | 2006 | $62M | Private Equity | |
| Real Estate | 2019 | $225M | Debt Financing | |
| Analytics | 2000 | $144.4M | Debt Financing | |
| Hardware | 2007 | $39.9M | Series C | |
| AI | 2018 | $32.5M | Series A | |
| Fintech | 2019 | $120.5M | Series B | |
| Enterprise | 2016 | $47.4M | Series B | |
| AI | 2015 | $142M | Series D | |
| Analytics | 2017 | $24.4M | Venture Round | |
| Energy | 2012 | $73.2M | Series A | |
| Enterprise | 2014 | $75.5M | Series B | |
| Enterprise | 2019 | $3.5M | Debt Financing | |
| AI | 2022 | $25M | Seed | |
| Crypto | 2021 | $85M | Venture Round | |
| Fashion | 2012 | $60.3M | Series B | |
| AI | 2017 | $29.6M | Grant | |
| Media | 1931 | CA$4.7B | Secondary Market | |
| Enterprise | 2022 | $3M | Seed |
