Companies / AI Hardware/Semiconductors
AI hardware and semiconductors companies in Canada
The Canadian AI Index tracks 17 Canadian AI hardware and semiconductors companies. They have raised C$4B across 20 rounds, including C$2.4B in 2026.
Largest rounds
| Company | Round | Date | Amount | Investors |
|---|---|---|---|---|
| Tenstorrent | Series E | Oct 2026 | US$1.5B | Trace Capital, Innovation X (leads) and 4 more |
| Tenstorrent | Series D | Dec 2024 | US$693M | Samsung Securities, AFW Partners (leads) and 2 more |
| Tenstorrent | Series C | May 2021 | US$200M | Fidelity (lead) and 4 more |
| Taalas | Venture round | Feb 2026 | US$169M | Quiet Capital, Fidelity, Pierre Lamond |
| Tenstorrent | Venture round | Aug 2023 | US$100M | Hyundai Motor Group, Samsung Catalyst Fund (leads) and 4 more |
| Stathera | Series B | Jun 2026 | US$55M | Maverick Silicon (lead) and 5 more |
| Taalas | Venture round | Feb 2024 | US$38M | Quiet Capital, Pierre Lamond (leads) |
| Tenstorrent | Series B | Feb 2019 | US$20.7M | Eclipse Ventures, Real Ventures |
| Stathera | Series A | May 2023 | US$15M | BDC Deep Tech Venture Fund, Celesta Capital (leads) and 1 more |
| Blumind | Series A | Apr 2025 | C$20M | Cycle Capital, BDC Sustainability Venture Fund (leads) and 3 more |
US$ rounds converted to C$ at the Bank of Canada rate on each round's date to rank them.
All 17 companies
| Company | Category | HQ | Founded | Date raised | Disclosed raised | Status |
|---|---|---|---|---|---|---|
| TenstorrentAI chips (Jim Keller)Founded in Canada | AI Hardware/Semiconductors | Santa Clara, CA, US | 2016 | Oct 2026 | US$2.5B | Active |
| AstrusAI chip design automation | AI Hardware/Semiconductors | Toronto, ON | 2023 | Sep 2026 | US$22.4M | Active |
| StatheraSilicon timing chips for AI data centres | AI Hardware/Semiconductors | Montréal, QC | — | Jun 2026 | US$70M | Active |
| Dream PhotonicsOptical interconnects and photonic packaging that link AI and quantum processors | AI Hardware/Semiconductors | Vancouver, BC | 2019 | May 2026 | C$1.2M | Active |
| TaalasAI chips hardwired to siliconAgreed to be acquired by AMD | AI Hardware/Semiconductors | Toronto, ON | 2023 | Feb 2026 | US$219M | Agreed to be acquired by AMD |
| IrréversibleFabless semiconductor company designing ultra-low-power analog processors for edge AI inference | AI Hardware/Semiconductors | Sherbrooke, QC | 2024 | Jan 2026 | — | Active |
| Applied Brain ResearchNeuromorphic time-series AI for edge devices | AI Hardware/Semiconductors | Kitchener-Waterloo, ON | — | Dec 2025 | C$1.5M | Active |
| RanovusCo-packaged optics and quantum-dot laser interconnects for AI compute clusters (Odin platform) | AI Hardware/Semiconductors | Ottawa, ON | 2012 | Aug 2025 | C$2M | Active |
| BlumindAnalog AI chips for always-on edge inference | AI Hardware/Semiconductors | Toronto, ON | — | Apr 2025 | C$20M | Active |
| HyperlumeMicroLED optical interconnectsAcquired by Credo | AI Hardware/Semiconductors | Ottawa, ON | 2022 | 2024 | US$12.5M | Acquired by Credo |
| AdHawk MicrosystemsCamera-free eye-tracking microsystems | AI Hardware/Semiconductors | Kitchener-Waterloo, ON | — | — | — | Active |
| CadstromAI-assisted electronics and PCB design | AI Hardware/Semiconductors | Montréal, QC | 2023 | — | — | Active |
| Hepzibah AILicenses energy-efficient at-memory AI compute IP for inference and light training from edge to data centre | AI Hardware/Semiconductors | Toronto, ON | — | — | — | Active |
| HypertecNVIDIA's first Canadian OEM (Ciara) | AI Hardware/Semiconductors | Montréal, QC | — | — | — | Active |
| Neuron IPSerDes/PHY chiplet IP | AI Hardware/Semiconductors | Toronto, ON | — | — | — | Active |
| POET TechnologiesPhotonic integrated circuits and optical engines for AI data centresPublic | AI Hardware/Semiconductors | Toronto, ON | 1972 | — | — | Public |
| Untether AIAt-memory compute AI inference chipsShut down | AI Hardware/Semiconductors | Toronto, ON | — | — | — | Shut down |
Data as of October 20, 2026.