About Sustainability Tech sector in Canada
The Sustainability Tech sector in Canada comprises 3.87K companies, including 992 funded companies having collectively raised $26.9B in venture capital money and private equity. Out of these, 468 are Series A+ funded, and 1 has achieved unicorn status.
Sustainability Tech sector in Canada has seen 179 acquisitions and 132 IPOs. This represents almost 8.0% of all such companies - which is higher than the 5.0% exit rate of tech companies in general.
This sector includes sustainability Tech covers companies that provide tech-enabled solutions and hardware which enable sustainability- environmental, social and economic.
Companies providing tech solutions or hardware targetting basic human necessities such as health, etc. Companies providing tech solutions or hardware to ensure financial inclusivity through microfinance, affordable housing, etc. Companies providing tech solutions or hardware that help in ensuring environmental sustainability. Companies providing industry-agnostic solutions with no particular focus on sustainability
Top Sustainability Tech Companies in Canada
There are 3,870 Sustainability Tech startups in Canada which include ecobee, Damon, ChargeLab, Carbon Engineering, SWTCH. Out of these, 992 startups are funded, with 468 having secured Series A+ funding, and 1 achieving unicorn status.
Over the past 10 years, an average of 170 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 Sustainability Tech startups in Canada
1. ecobee
Provider of smart thermostats for commercial and residential applications. The company designs and develops thermostats for residential applications and commercial applications. Its offering spans five generations and comes built-in with a touchscreen that allows users to control the devices using the same or a companion smartphone application. It works with up to 32 remote temperature/motion sensors to adjust the thermostat based on the surroundings of the user. The remote sensors detect temperature and occupancy to control the average room temperature of all sensors included in the mode setting. Additionally, the company offers smart switches which come along with occupancy and daylight sensors.
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: 76/100 What is this?
- Competitors Rank: 8 of 4,581 Competitors
2. Damon
Manufacturer of electric motorcycles. The company is involved in the design and development of electric motorcycles that have features like monocoque-constructed, all-electric, multi-variant powertrains, multiple warning systems for hazards, and more.
Key facts about Damon
- Founded Year: 2017
- Location: Vancouver (Canada)
- Stage: Public
- Total Funding till date: $40.3M
- Investors: Round13, Indika Energy and 13 Others
- Latest Funding Round: Series B, Jan 17, 2023, $*****
- Tracxn Score: 70/100 What is this?
- Competitors Rank: 2 of 1,414 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: King River, Construct Capital and 10 Others
- Latest Funding Round: Series A, Apr 14, 2023, $*****
- Tracxn Score: 69/100 What is this?
- Competitors Rank: 4 of 457 Competitors
Developer of direct air capture technology focused on carbon dioxide removal. The company advances technologies for capturing carbon dioxide directly from the atmosphere. It focuses on continual innovation of its technology to provide it at scale. The company’s research and development platform tests and validates advancements for this technology.
Key facts about Carbon Engineering
5. SWTCH
Provider of EV charging management systems. Its features include an EV charging platform that optimises charging and revenue management for property owners. It networks chargers with the internet to enable remote monitoring, access control, energy metering, billing and payments. Its app enables the monitoring and management of charging. It is available across both Android and iOS platforms.
Key facts about SWTCH
- Founded Year: 2018
- Location: Toronto (Canada)
- Stage: Series B
- Total Funding till date: $42M
- Investors: IBI Group, Blue Earth Capital and 18 Others
- Latest Funding Round: Series B, Jun 05, 2025, $*****
- Tracxn Score: 69/100 What is this?
- Competitors Rank: 5 of 457 Competitors
Companies founded year-on-year in the Sustainability Tech sector in Canada
360 Sustainability Tech startups in Canada were founded in 2020 - 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 | - |
2025 | 6 |
2024 | 36 |
2023 | 102 |
2022 | 160 |
2021 | 262 |
2020 | 360 |
2019 | 327 |
2018 | 223 |
2017 | 232 |
Stage-wise distribution of Sustainability Tech sector companies in Canada
Out of the total 3,870 Sustainability Tech companies in Canada, 992 have secured funding. Among them, 468 have reached Series A or higher, and 385 to Series B or beyond.
Founded - 3,870
Funded - 992
Series A+ - 468
Series B+ - 385
Series C+ - 351
Company Stage | No. of companies |
|---|---|
Founded | 3,870 |
Funded | 992 |
Series A+ | 468 |
Series B+ | 385 |
Series C+ | 351 |
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Designed with precision for VCs, PE, IBs, Incubators, M&A, Innovation more
Funding Trends in the Sustainability Tech sector in Canada
Total funding year-on-year in the Sustainability Tech sector in Canada
The Sustainability Tech sector in Canada saw a total funding of more than $24.8B in the last 10 years. The most amount of funding was in 2018 at more than $6.04B.
- Total Funding
Year | Total Funding |
|---|---|
2025 | $1.75B |
2024 | $956M |
2023 | $1.62B |
2022 | $3.17B |
2021 | $2.35B |
2020 | $1.33B |
2019 | $1.06B |
2018 | $6.04B |
2017 | $6B |
Recent Funding Rounds in Sustainability Tech in Canada
In the year 2025, till December 2025, Sustainability Tech companies in Canada have raised $945M in equity funding across 77 rounds.
In the same period last year (i.e. till December 2024), Sustainability Tech companies in Canada had raised $520M across 66 rounds.
So, 2025 has seen a 81.61% rise in funding in Sustainability Tech companies in Canada as compared to 2024.
Here are some recent, important funding rounds in Sustainability Tech companies in Canada:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Seed | 1333 | Dec 10, 2025 | - | |
Series A | 1762 | Dec 01, 2025 | ||
Seed | 4678 | Nov 20, 2025 | ||
Series A | 3892 | Nov 20, 2025 | - | |
Seed | 1958 | Nov 20, 2025 |
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Top Investors in Sustainability Tech in Canada
Plug and Play Tech Center is the top investor in Sustainability Tech companies in Canada based on number of companies invested.
Here are some top investors in Sustainability Tech companies in Canada:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Sunnyvale (United States) | ||
Ottawa (Canada) | ||
Montreal (Canada) | ||
Zurich (Switzerland) | ||
Port Coquitlam (Canada) |
M&A activity in Sustainability Tech sector in Canada
In the year 2025, till December 2025, 7 acquisitions happened in Sustainability Tech sector in Canada. Last year, in 2024, a total of 16 acquisitions happened in Sustainability Tech sector in Canada.
Here are some recent, important acquisitions in Sustainability Tech sector in Canada:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Dec 19, 2025 | ||
Business Acquisition | Dec 05, 2025 | ||
Business Acquisition | Dec 01, 2025 | ||
Business Acquisition | Sep 07, 2025 | ||
Business Acquisition | Jul 02, 2025 |
Acquisition trends in Sustainability Tech sector in Canada
Here are the acquisition trends in Sustainability Tech sector in Canada:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | - |
2025 | 7 |
2024 | 16 |
2023 | 19 |
2022 | 13 |
2021 | 26 |
2020 | 18 |
2019 | 24 |
2018 | 9 |
2017 | 14 |
IPOs in Sustainability Tech in Canada
In the year 2024, till December 2024, 6 IPOs happened in Sustainability Tech sector in Canada.
Here are some recent, important IPOs in Sustainability Tech sector in Canada:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Dec 23, 2024 | OTC Markets (OTCMKTS) | |
Nov 18, 2024 | National Association of Securities Dealers Automated Quotations (NASDAQ) | |
Nov 07, 2024 | National Association of Securities Dealers Automated Quotations (NASDAQ) | |
Jul 01, 2024 | National Association of Securities Dealers Automated Quotations (NASDAQ) | |
Mar 08, 2024 | Frankfurt Stock Exchange (FRA) |
Colleges which produce the most Sustainability Tech companies in Canada
Companies founded by alumni from top colleges in the Sustainability Tech in Canada
Most number of Sustainability Tech startups in Canada have been founded by alumni from University of Toronto, University of Waterloo and McGill University.
College | No. of companies |
|---|---|
University of Toronto | 70 |
University of Waterloo | 42 |
McGill University | 14 |
Harvard University | 8 |
Massachusetts Institute of Technology | 7 |
The University of British Columbia | 7 |
McMaster University | 6 |
University of Cambridge | 6 |
Cornell University | 5 |
Harvard Business School | 5 |
Total funding in Sustainability Tech companies founded by alumni from top colleges in Canada
In the last 10 years, Queen's University graduates' Sustainability Tech companies in Canada have raised the most funding among top colleges. University of Toronto alumni are second, and University of Waterloo alumni are third.
College | Total Funding |
|---|---|
Queen's University | $4.81B |
University of Toronto | $1.19B |
University of Waterloo | $825M |
McGill University | $377M |
The University of British Columbia | $355M |
Massachusetts Institute of Technology | $266M |
INSEAD | $258M |
University of Manchester | $137M |
University of Pennsylvania | $118M |
Wharton School | $118M |
Top News in Sustainability Tech in Canada
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Sensible Meats Announces Non-Brokered Private Placement for Gross Proceeds of up to C$3,000,000accessnewswire.com•Dec 16, 2025•Sensible Meats
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Eavor Technologies Achieves First Electricity Production at Geretsried SiteFinancial Post•Dec 04, 2025•Eavor
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H2O Innovation partners with Fathom Water to support the semiconductor marketBusiness Wire•Dec 02, 2025•H2O Innovation, Fathom
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Above Food Ingredients Announces Merger Advancement with Palm GlobalPR Newswire•Nov 28, 2025•Above Food
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