About Garage Capital
Garage Capital is a venture capital firm founded in 2013. It is primarily based out of Kitchener, Canada. As of Sep 2026, Garage Capital is an active investor, having invested in 148 companies, with 15 new investments in the last 12 months. It primarily invests in Seed round in Canada based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to High Tech and Consumer. Most recently it participated in the $***** Series A round of Astrus Overall, Garage Capital portfolio has seen 9 unicorns and 30 acquisitions including key companies like Substack, Groq and Kindred. A lot of funds co-invest with Garage Capital, with names like N49P sharing a substantial percentage of its portfolio. Garage Capital has team of 4 people including 3 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 3 more
Portfolio Unicorns
Garage Capital's List of Top Investments
Garage Capital has a portfolio of 148 companies, including 9 unicorns. Their most notable investments are in Drifting in Space and Fellow.Their portfolio spans across Canada, United States, Kenya and 2 more locations. They have invested in Enterprise Applications, High Tech, Consumer and 35 other sectors, across stages such as Seed, Series A and 3 more. Here is the list of top investments by Garage Capital:1. Substack
Substack is a publishing platform that enables independent writers to create and distribute their own newsletters to a global audience, offering a self-serve model for content creation and monetization.
Key facts about Substack
- Founded Year: 2017
- Location: San Francisco (United States)
- Annual Revenue: $1M - $10M as on Dec 31, 2021
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $190M
- Employee Count: 4,185 as on Aug 31, 2026
- Investors: TriplePoint Capital, Bond Capital and 34 Others
- Latest Funding Round: Series C, Jul 17, 2025, $*****
- Highlight: Editors' Pick
2. Relay
Digital business banking platform that helps small businesses manage cash flow with multi-account structures. It lets businesses create multiple checking and savings accounts to organize cash flows by purpose—such as payroll, taxes, income, and operating expenses—giving owners clearer visibility and control over spending. It includes tools for issuing debit and credit cards, setting spending limits, automating expense categorization, managing payables and receivables, and integrating with accounting systems. It also offers savings features and cash management workflows intended to help businesses build reserves and improve financial discipline.
Key facts about Relay
- Founded Year: 2018
- Location: Toronto (Canada)
- Stage: Series C
- Total Funding till date: $102M
- Employee Count: 390 as on Aug 31, 2026
- Investors: Industry Ventures, Tribe Capital and 13 Others
- Latest Funding Round: Series C, May 19, 2026, $*****
- Highlight: Editors' Pick
3. Groq
Developer of specialized hardware processors for artificial intelligence inference workloads. These processors facilitate the execution of machine learning models by accelerating data processing tasks. The technology supports the deployment of large language models and other computational applications within cloud environments. The hardware architecture focuses on reducing latency and increasing throughput for real-time data analysis.
Key facts about Groq
- Founded Year: 2016
- Location: Mountain View (United States)
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $2.77B
- Employee Count: 308 as on Aug 31, 2026
- Investors: equitywestsecurities.com, Disruptive and 54 Others
- Latest Funding Round: Series A, Aug 17, 2026, $*****
- Highlight: Editors' Pick
4. Kindred
Developer of AI-powered robotics for picking placing sorting automation. Builds high-speed robotic workcells automating warehouse tasks with precision grasping and manipulation. Deploys CORE platform for general-purpose item handling across varied shapes and conditions. Provides end-to-end solutions including perception software, control systems, and deployment services for industrial automation.
Key facts about Kindred
- Founded Year: 2014
- Location: San Francisco (United States)
- Stage: Acquired
- Total Funding till date: $28M
- Employee Count: 233 as on Jul 31, 2026
- Investors: AME Cloud Ventures, First Round Capital and 11 Others
- Latest Funding Round: Series B, Dec 22, 2020, $*****
- Highlight: Acquired
5. Spatial
Developer of a platform for creating and sharing virtual experiences. The platform enables users to design interactive virtual worlds with customisable templates and tools. It supports the integration of 2D, 3D, and video content, facilitating the creation of immersive environments. The platform is accessible across web, virtual reality, augmented reality, and mobile devices.
Key facts about Spatial
- Founded Year: 2016
- Location: New York City (United States)
- Stage: Series B
- Total Funding till date: $66.8M
- Employee Count: 60 as on Aug 31, 2026
- Investors: Inovia Capital, Lerer Hippeau and 27 Others
- Latest Funding Round: Series B, Dec 14, 2021, $*****
- Highlight: Editors' Pick
Garage Capital's Year-on-Year Investment Trends
Garage Capital has invested in 148 companies over the last 9 years, with an average of 10 new investments annually in the last 5 years. In 2025, it made 9 investments, while as of Sep 2026, it has made 15 investments in this year. Its most recent first time investment was in Astrus and most recent follow-on round was in Defend the Dominion.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 13 | 2 | 15 |
2025 | 8 | 1 | 9 |
2024 | 8 | 3 | 11 |
2023 | 5 | 2 | 7 |
2022 | 14 | 3 | 17 |
2021 | 19 | 5 | 24 |
2020 | 6 | 2 | 8 |
2019 | 3 | 0 | 3 |
2018 | 3 | 0 | 3 |
2017 | 1 | 0 | 1 |
Garage Capital's Investments by Stage
Garage Capital has made 59 investments in Seed stage with an average round size of $4.11M, 17 investments in Series A stage with an average round size of $18.1M, 2 investments in Series D stage with an average round size of $180M, 1 investment in Series B stage with an average round size of $48.8M and 1 investment in Series C stage with an average round size of $70.9M.Stage of entry | No. of Investments |
|---|---|
Seed | 59 |
Series A | 17 |
Series D | 2 |
Series B | 1 |
Series C | 1 |
Note: We have considered here, only first round of investments
Garage Capital's Investments by Sector
Garage Capital has a diverse portfolio, with companies operating in the Enterprise Applications, High Tech, Consumer, FinTech and Sustainability Tech. Notably, it has invested in 132 Tech companies, 101 Enterprise (B2B) companies, 92 Software companies and at least 51 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Enterprise Applications | 38 |
High Tech | 17 |
Consumer | 12 |
FinTech | 12 |
Sustainability Tech | 10 |
Others | 98 |
Note: We have considered here, only first round of investments
Garage Capital's Investments by Geography
Garage Capital has made most investments in Canada (50), followed by United States where it has made 26 investments.Country | No. of Investments |
|---|---|
Canada | 50 |
United States | 26 |
Philippines | 1 |
United Kingdom | 1 |
Note: We have considered here, only first round of investments
Garage Capital's recent investments
Garage Capital has made 15 investments in 2026 so far. Astrus and Orbits are the latest among them.Here are the most recent investments by Garage Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Sep 22, 2026 | Canada | Series A | 6573 | [+3] | |
Sep 16, 2026 | - | Seed | 5177 | [+1] | |
Sep 09, 2026 | Canada | Seed | 1093 | [+3] | |
Jul 22, 2026 | - | Seed | 8137 | [+1] | |
Jun 30, 2026 | Canada | Series A | 1794 | [+12] |
Unicorns in Garage Capital's Portfolio
Garage Capital has 9 unicorns in its portfolio - Substack, Gecko Robotics, People.ai and others. The most recent unicorn in their portfolio is Substack. It became a unicorn in 2025, 7 years after Garage Capital first invested in it.Here is a list of unicorns in Garage Capital's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
84 | Platform allowing writers to publish and monetize their content directly with readers. | 2017 | San Francisco | Series C | xzxeffs | ||
59 | AI and robotics for infrastructure inspection, maintenance, and operational excellence | 2013 | Pittsburgh | Series D | {bmm{sg | ||
66 | Developer of an AI revenue platform for sales team enablement | 2016 | San Francisco | Series D | g{wksso | ||
64 | AI platform for text based customer support | 2016 | Toronto | Series C | gcfznyp | ||
72 | Developer of specialized hardware processors for artificial intelligence inference workloads | 2016 | Mountain View | Series E | gajunec |
Acquired companies in Garage Capital's Portfolio
30 companies from Garage Capital's portfolio have been acquired. The most recent acquisition was Notch in Jul 2026 by Telpay for $*****.Here are Garage Capital's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jul 07, 2026 | Jul 27, 2021 | Series A | 3429 | |
Jun 01, 2026 | Feb 23, 2021 | Series A | 4877 | |
Dec 05, 2025 | Oct 2021 | Seed | 4844 | |
Sep 15, 2025 | - | - | 3655 | |
Jul 10, 2025 | - | - | 2127 |
Team profile of Garage Capital
Garage Capital has a team of 4 members including 3 Partners and 1 Venture Partner located in Canada. Garage Capital's team does not sit on the board of any company as of now.Here is a list of all team members in Garage Capital:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Canada | - | ||
Partner | Kitchener | - | ||
Partner | - | - | ||
Venture Partner | - | - |
Co-investors of Garage Capital
Over the past 9 years, 539 investors have co-invested in Garage Capital's portfolio companies. This includes funds and angels.
- Invested before Garage Capital: Y Combinator, Fifty Years and 110 others have invested in rounds before Garage Capital. There are 14 companies where Y Combinator has invested before Garage Capital and 2 companies where Fifty Years has invested before Garage Capital.
- Top Co-investors of Garage Capital: 305 investors entered a company along with Garage Capital. These include investors like N49P (9 companies).
- Invested after Garage Capital: A total of 122 investors have invested in Garage Capital's portfolio after their investments. Top Investors include BDC (5 companies), SVB (3 companies) and Craft Ventures (2 companies).
Recent News related to Garage Capital
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Autonomique says backflipping robots are not the pointBetaKit•Jun 17, 2026•Inovia Capital, Autonomique, Innovobot, Garage Capital
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Taiv raises $13M to expand its AI-powered in-venue ad networkContentGrip•Feb 10, 2026•IDC Ventures, Taiv, Garage Capital, Y Combinator and 1 other
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Y Combinator Startups May Now Receive Funding in USDCCrowdfund Insider•Feb 05, 2026•Y Combinator, Circle, IDC Ventures, Garage Capital and 4 others
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Overworld Raises $4.5M in Pre-Seed FundingFinSMEs•Jan 22, 2026•Openworldlabs, Northside Ventures, vitalstage ventures, Amplify and 3 others
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Jetson Raises $50M Series A to Expand Home Electrification Across New U.S. MarketsBusiness Wire•Jan 20, 2026•Eclipse, Activate Capital, Active Impact Investments, Garage Capital and 2 others
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Loon Raises $3 Million to Build Canada’s First Regulated StablecoinFintech.ca•Oct 27, 2025•Garage Capital, Version One Ventures, Loon
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veritree Secures $6.5M in Series A FundingFinSMEs•May 14, 2025•Veritree, Pender Ventures, Garage Capital, Northside Ventures and 1 other
