About High Tech sector in Toronto, Canada
The High Tech sector in Toronto, Canada comprises 1.44K companies, including 465 funded companies having collectively raised $13.2B in venture capital money and private equity. Out of these, 184 are Series A+ funded, and 8 have achieved unicorn status.
High Tech sector in Toronto, Canada has seen 77 acquisitions and 38 IPOs. This represents almost 8.0% 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 Toronto, Canada
There are 1,443 High Tech startups in Toronto, Canada which include Cohere, ecobee, ChargeLab, Waabi, Ethereum. Out of these, 465 startups are funded, with 184 having secured Series A+ funding, and 8 achieving unicorn status.
2026 has seen the creation of 36 High Tech startups in Toronto, Canada. Over the past 10 years, an average of 79 new companies have been launched annually. Notably, several of these startups have been founded by alumni of University of Toronto, University of Waterloo and McGill University.
Here is the list of top High Tech startups in Toronto, 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, Sapphire 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. 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: Relay Ventures, Tech Capital Partners 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
3. ChargeLab
Provider of electric vehicle station management solution. It offers an OCPP-compliant software that manages, controls, and monetizes the EV charging stations. It also offers turnkey Level 2 and Level 3 EV charging infrastructures for offices, buildings, and homes.
Key facts about ChargeLab
- Founded Year: 2019
- Location: Toronto (Canada)
- Stage: Series A
- Total Funding till date: $30M
- Investors: Root Ventures, King River and 10 Others
- Latest Funding Round: Series A, Apr 14, 2023, $*****
- Tracxn Score: 71/100 What is this?
- Competitors Rank: 4 of 636 Competitors
4. Waabi
Developer of physical artificial intelligence platform for autonomous trucks and robotaxis. The platform enables scalability across various form factors, geographies, and environments. It utilizes a shared artificial intelligence model for both autonomous trucks and robotaxis. The company focuses on delivering safer and more efficient autonomous transportation solutions. It employs neural simulation and end-to-end artificial intelligence to set new standards for safety.
Key facts about Waabi
- Founded Year: 2021
- Location: Toronto (Canada)
- Stage: Series C
- Total Funding till date: $1.03B
- Investors: Khosla Ventures, Uber and 28 Others
- Latest Funding Round: Series C, Jan 28, 2026, $*****
- Tracxn Score: 71/100 What is this?
- Competitors Rank: 3 of 51 Competitors
5. Ethereum
Blockchain-based public network for decentralized applications. It is a blockchain-based distributed computing platform and operating system featuring smart contract functionality. It provides a decentralized virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. It enables developers to build and deploy decentralized applications.
Key facts about Ethereum
- Founded Year: 2013
- Location: Toronto (Canada)
- Stage: Series B
- Investors: KR1, HFRRF and 110 Others
- Latest Funding Round: Series B, Oct 21, 2021, $*****
- Tracxn Score: 70/100 What is this?
- Competitors Rank: 8 of 2,334 Competitors
Companies founded year-on-year in the High Tech sector in Toronto
36 new startups have been founded so far in 2026 in the High Tech sector in Toronto. 123 High Tech startups in Toronto 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 | 36 |
2025 | 53 |
2024 | 51 |
2023 | 65 |
2022 | 76 |
2021 | 74 |
2020 | 88 |
2019 | 115 |
2018 | 123 |
2017 | 111 |
Stage-wise distribution of High Tech sector companies in Toronto
Out of the total 1,443 High Tech companies in Toronto, 465 have secured funding. Among them, 184 have reached Series A or higher, and 145 to Series B or beyond.
Founded - 1,443
Funded - 465
Series A+ - 184
Series B+ - 145
Series C+ - 131
Company Stage | No. of companies |
|---|---|
Founded | 1,443 |
Funded | 465 |
Series A+ | 184 |
Series B+ | 145 |
Series C+ | 131 |
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Funding Trends in the High Tech sector in Toronto
Total funding year-on-year in the High Tech sector in Toronto
The High Tech sector in Toronto saw a total funding of more than $12.3B in the last 10 years. The most amount of funding has been in 2026 at more than $3.04B till date.
- Total Funding
Year | Total Funding |
|---|---|
2026 | $3.04B |
2025 | $2.08B |
2024 | $2.11B |
2023 | $905M |
2022 | $1.03B |
2021 | $1.91B |
2020 | $276M |
2019 | $360M |
2018 | $396M |
2017 | $167M |
Recent Funding Rounds in High Tech in Toronto
In the year 2026, till October 2026, High Tech companies in Toronto have raised $3.01B in equity funding across 20 rounds.
In the same period last year (i.e. till October 2025), High Tech companies in Toronto had raised $1.17B across 29 rounds.
So, 2026 has seen a 156.59% rise in funding in High Tech companies in Toronto as compared to 2025.
Here are some recent, important funding rounds in High Tech companies in Toronto:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Series E | 6776 | Oct 30, 2026 | ||
Series B | 7947 | Oct 08, 2026 | ||
Series A | 3282 | Sep 28, 2026 | ||
Series A | 2574 | Sep 28, 2026 | ||
Series D | 3777 | Sep 17, 2026 | - |
Top Investors in High Tech in Toronto
Plug and Play Tech Center is the top investor in High Tech companies in Toronto based on number of companies invested.
Here are some top investors in High Tech companies in Toronto:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Sunnyvale (United States) | ||
Toronto (Canada) | ||
Toronto (Canada) | ||
Toronto (Canada) | ||
Zurich (Switzerland) | - |
M&A activity in High Tech sector in Toronto
In the year 2026, till October 2026, 7 acquisitions happened in High Tech sector in Toronto. Last year, in 2025, a total of 12 acquisitions happened in High Tech sector in Toronto.
Here are some recent, important acquisitions in High Tech sector in Toronto:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Oct 09, 2026 | ||
Business Acquisition | Oct 08, 2026 | ||
Business Acquisition | Oct 05, 2026 | ||
Business Acquisition | Jun 03, 2026 | ||
Business Acquisition | Jun 2026 |
Acquisition trends in High Tech sector in Toronto
Here are the acquisition trends in High Tech sector in Toronto:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | 7 |
2025 | 12 |
2024 | 4 |
2023 | 8 |
2022 | 9 |
2021 | 14 |
2020 | 2 |
2019 | 4 |
2018 | 10 |
2017 | 3 |
IPOs in High Tech in Toronto
In the year 2026, till March 2026, 1 IPO happened in High Tech sector in Toronto.
Here are some recent, important IPOs in High Tech sector in Toronto:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Mar 26, 2026 | Toronto Stock Exchange (TSX) | |
Dec 22, 2025 | Canadian Securities Exchange (CSE) | |
May 16, 2025 | Frankfurt Stock Exchange (FRA) | |
Dec 16, 2024 | Toronto Stock Exchange - Venture Exchange (TSX-V) | |
Jul 07, 2023 | Frankfurt Stock Exchange (FRA) |
Colleges which produce the most High Tech companies in Toronto
Companies founded by alumni from top colleges in the High Tech in Toronto
Most number of High Tech startups in Toronto have been founded by alumni from University of Toronto, University of Waterloo and McGill University.
College | No. of companies |
|---|---|
University of Toronto | 110 |
University of Waterloo | 50 |
McGill University | 8 |
McMaster University | 7 |
Queen's University | 7 |
York University | 7 |
Carnegie Mellon University | 5 |
Columbia University | 5 |
Harvard University | 5 |
Massachusetts Institute of Technology | 5 |
Total funding in High Tech companies founded by alumni from top colleges in Toronto
In the last 10 years, University of Toronto graduates' High Tech companies in Toronto have raised the most funding among top colleges. University of Oxford alumni are second, and University of Waterloo alumni are third.
College | Total Funding |
|---|---|
University of Toronto | $6.55B |
University of Oxford | $1.7B |
University of Waterloo | $398M |
Queen's University | $378M |
Ivey School of Business | $280M |
McMaster University | $198M |
Massachusetts Institute of Technology | $157M |
The University of British Columbia | $155M |
Imperial College London | $154M |
Stanford University | $142M |
Top News in High Tech in Toronto
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