About High Tech sector in Canada
The High Tech sector in Canada comprises 6.93K companies, including 1.84K funded companies having collectively raised $39.2B in venture capital money and private equity. Out of these, 788 are Series A+ funded, and 14 have achieved unicorn status.
High Tech sector in Canada has seen 328 acquisitions and 181 IPOs. This represents almost 7.3% of all such companies - which is higher than the 3.8% exit rate of tech companies in general.
This sector includes companies building technology-intensive products and software related to Drones, 3D Printing, Nanotechnology, and Edge Computing.
High Tech sector is also known as Advanced Tech, Emerging Tech, Deep Tech, Disruptive Tech or Innovative Tech.
Companies offering HiTech solutions like 3D Printing, Virtual Reality, Augmented Reality, Natural Language Processing, etc are included in this sector. Excludes companies that provide solutions which do not involve much technology like, E-Commerce, Agricultural equipments, biomedical equipments, life science solutions, cybersecurity solutions, service solution providers for technology companies, IT services, etc.
Top High Tech Companies in Canada
There are 6,930 High Tech startups in Canada which include Cohere, Blockstream, ecobee, D-Wave, Vention. Out of these, 1,840 startups are funded, with 788 having secured Series A+ funding, and 14 achieving unicorn status.
2026 has seen the creation of 229 High Tech startups in Canada. Over the past 10 years, an average of 354 new companies have been launched annually. Notably, several of these startups have been founded by alumni of University of Waterloo, University of Toronto and McGill University.
Here is the list of top High Tech startups in Canada
1. Cohere
Developer of enterprise AI platform and multilingual language and retrieval models. The company provides tools for workplace productivity, intelligent search, and semantic text representation. It offers models for relevance-based result refinement and high-performance generative tasks. The platform supports customization and private deployments, catering to various industries. It also provides developer resources, including API access and technical documentation.
Key facts about Cohere
- Founded Year: 2019
- Location: Toronto (Canada)
- Stage: Series E
- Total Funding till date: $1.54B
- Investors: Inovia Capital, Radical Ventures and 39 Others
- Latest Funding Round: Series E, Oct 30, 2026, $*****
- Tracxn Score: 79/100 What is this?
- Competitors Rank: 4 of 192 Competitors
2. Blockstream
Developer of cryptocurrency infrastructure software and open source hardware wallets. Systems built for the bitcoin network include non custodial applications, security technology, and decentralized financial tools. These products facilitate peer to peer transactions and address scaling requirements through satellite transmissions and sidechain implementations. Hardware security devices assist individuals with self custody management. The architecture aims to reduce reliance on third party financial institutions by utilizing cryptographic proof and distributed systems protocols.
Key facts about Blockstream
- Founded Year: 2014
- Location: Montreal (Canada)
- Stage: Series C
- Total Funding till date: $651M
- Investors: Bitfinex, Baillie Gifford and 46 Others
- Latest Funding Round: Series C, Oct 15, 2024, $*****
- Tracxn Score: 76/100 What is this?
- Competitors Rank: 2 of 318 Competitors
3. ecobee
Manufacturer of smart thermostats, sensors, cameras, and security system bundles. The company provides smart thermostats with accessories, air filter subscriptions, and power extender kits. It offers smart sensors for rooms, doors, and windows. The company also manufactures wired smart doorbell cameras and smart cameras with voice control. In addition, the business provides home security bundles and smart security subscriptions.
Key facts about ecobee
- Founded Year: 2007
- Location: Toronto (Canada)
- Stage: Acquired
- Total Funding till date: $155M
- Investors: Tech Capital Partners, Relay Ventures and 14 Others
- Latest Funding Round: Series C, May 31, 2018, $*****
- Tracxn Score: 75/100 What is this?
- Competitors Rank: 5 of 6,098 Competitors
4. D-Wave
Developer and delivery of quantum computing systems, software, and services. It offers quantum computers a dual-platform quantum computing products and services, spanning both annealing and gate-model quantum computing technologies. It help customers realize the value of quantum today through enterprise-grade systems available on-premises and via its Leap quantum cloud service.
Key facts about D-Wave
- Founded Year: 1999
- Location: Burnaby (Canada)
- Stage: Public
- Total Funding till date: $256M
- Investors: Goldman Sachs, PSP Investments and 27 Others
- Latest Funding Round: Grant (prize money), Sep 09, 2026, $*****
- Tracxn Score: 74/100 What is this?
- Competitors Rank: 1 of 5 Competitors
5. Vention
Developer of an AI-powered automation platform for manufacturing operations. The platform unifies hardware, software, motion control, and cloud connectivity to streamline factory floor processes. It enables the design, programming, and deployment of automated systems, including robotic cells, conveyors, and workstations, to support various industrial applications.
Key facts about Vention
- Founded Year: 2016
- Location: Montreal (Canada)
- Stage: Series D
- Total Funding till date: $263M
- Investors: Georgian, Bain Capital Ventures and 17 Others
- Latest Funding Round: Series D, Jan 27, 2026, $*****
- Tracxn Score: 73/100 What is this?
- Competitors Rank: 4 of 1,332 Competitors
Companies founded year-on-year in the High Tech sector in Canada
229 new startups have been founded so far in 2026 in the High Tech sector in Canada. 493 High Tech startups in Canada were founded in 2018 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2026 | 229 |
2025 | 272 |
2024 | 211 |
2023 | 279 |
2022 | 303 |
2021 | 400 |
2020 | 438 |
2019 | 465 |
2018 | 493 |
2017 | 456 |
Stage-wise distribution of High Tech sector companies in Canada
Out of the total 6,930 High Tech companies in Canada, 1,840 have secured funding. Among them, 788 have reached Series A or higher, and 629 to Series B or beyond.
Founded - 6,930
Funded - 1,840
Series A+ - 788
Series B+ - 629
Series C+ - 569
Company Stage | No. of companies |
|---|---|
Founded | 6,930 |
Funded | 1,840 |
Series A+ | 788 |
Series B+ | 629 |
Series C+ | 569 |
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Funding Trends in the High Tech sector in Canada
Total funding year-on-year in the High Tech sector in Canada
The High Tech sector in Canada saw a total funding of more than $34.7B in the last 10 years. The most amount of funding was in 2021 at more than $8.4B. There has been a total funding of $3.9B in 2026 till date.
- Total Funding
Year | Total Funding |
|---|---|
2026 | $3.9B |
2025 | $3.54B |
2024 | $3.81B |
2023 | $2.85B |
2022 | $3.34B |
2021 | $8.4B |
2020 | $1.67B |
2019 | $3.78B |
2018 | $2.34B |
2017 | $1.11B |
Recent Funding Rounds in High Tech in Canada
In the year 2026, till October 2026, High Tech companies in Canada have raised $3.62B in equity funding across 73 rounds.
In the same period last year (i.e. till October 2025), High Tech companies in Canada had raised $1.98B across 107 rounds.
So, 2026 has seen a 82.89% rise in funding in High Tech companies in Canada as compared to 2025.
Here are some recent, important funding rounds in High Tech companies in Canada:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Series E | 6748 | Oct 30, 2026 | ||
Series A | 9667 | Oct 27, 2026 | ||
Series B | 7670 | Oct 08, 2026 | ||
Series A | 1114 | Sep 28, 2026 | ||
Series A | 1701 | Sep 28, 2026 |
Top Investors in High Tech in Canada
Plug and Play Tech Center is the top investor in High Tech companies in Canada based on number of companies invested.
Here are some top investors in High Tech companies in Canada:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Sunnyvale (United States) | ||
Montreal (Canada) | ||
Menlo Park (United States) | ||
Ottawa (Canada) | ||
Waterloo (Canada) |
M&A activity in High Tech sector in Canada
In the year 2026, till October 2026, 26 acquisitions happened in High Tech sector in Canada. Last year, in 2025, a total of 32 acquisitions happened in High Tech sector in Canada.
Here are some recent, important acquisitions in High Tech sector in Canada:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Oct 21, 2026 | ||
Business Acquisition | Oct 14, 2026 | ||
Business Acquisition | Oct 09, 2026 | ||
Business Acquisition | Oct 08, 2026 | ||
Business Acquisition | Oct 05, 2026 |
Acquisition trends in High Tech sector in Canada
Here are the acquisition trends in High Tech sector in Canada:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | 26 |
2025 | 32 |
2024 | 13 |
2023 | 29 |
2022 | 30 |
2021 | 53 |
2020 | 18 |
2019 | 30 |
2018 | 24 |
2017 | 18 |
IPOs in High Tech in Canada
In the year 2026, till October 2026, 8 IPOs happened in High Tech sector in Canada.
Here are some recent, important IPOs in High Tech sector in Canada:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Oct 02, 2026 | New York Stock Exchange (NYSE) | |
Jul 17, 2026 | Canadian Securities Exchange (CSE) | |
Jul 13, 2026 | National Association of Securities Dealers Automated Quotations (NASDAQ) | |
Jul 09, 2026 | Toronto Stock Exchange - Venture Exchange (TSX-V) | |
May 27, 2026 | Toronto Stock Exchange (TSX) |
Colleges which produce the most High Tech companies in Canada
Companies founded by alumni from top colleges in the High Tech in Canada
Most number of High Tech startups in Canada have been founded by alumni from University of Waterloo, University of Toronto and McGill University.
College | No. of companies |
|---|---|
University of Waterloo | 168 |
University of Toronto | 150 |
McGill University | 34 |
The University of British Columbia | 29 |
Stanford University | 25 |
McMaster University | 24 |
Massachusetts Institute of Technology | 18 |
Queen's University | 16 |
Harvard University | 14 |
York University | 14 |
Total funding in High Tech companies founded by alumni from top colleges in Canada
In the last 10 years, University of Toronto graduates' High Tech companies in Canada have raised the most funding among top colleges. University of Waterloo alumni are second, and University of Oxford alumni are third.
College | Total Funding |
|---|---|
University of Toronto | $6.99B |
University of Waterloo | $2.15B |
University of Oxford | $2.04B |
The University of British Columbia | $1.22B |
Stanford University | $888M |
McMaster University | $678M |
Harvard University | $431M |
Queen's University | $391M |
McGill University | $389M |
University of California (Los Angeles) | $375M |
Top News in High Tech in Canada
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Telesat Addresses C$2.4B GEO Debt Due in December Amidst Financial ConcernsPayload•Oct 30, 2026•Telesat
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SalesCloser Technologies Appoints Jacky He as Chief Financial OfficerFinancial Post•Oct 21, 2026•SalesCloser AI
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H2O Innovation's EkoFiber Filter Wins Technical Evolution Award at EIMA International 2026Financial Post•Sep 30, 2026•H2O Innovation
