The Canadian AI Index

Companies / Toronto

AI companies in Toronto

The Canadian AI Index tracks 206 AI companies headquartered in Toronto or nearby (Cobourg, Etobicoke, Markham and Oakville). They have raised C$6.7B across 165 rounds, including C$2.2B in 2026.

Largest rounds

CompanyRoundDateAmountInvestors
WaabiSeries CJan 2026US$750MKhosla Ventures, G2 Venture Partners (leads) and 9 more
CohereVenture roundAug 2025US$500MRadical Ventures, Inovia Capital (leads) and 5 more
CohereSeries DJul 2024US$500MPSP Investments (lead) and 6 more
CohereSeries CJun 2023US$270MInovia Capital (lead) and 9 more
BeaconSeries BNov 2025US$250MGeneral Catalyst, Lightspeed Venture Partners, D1 Capital Partners (leads)
BeaconSeries CJan 2026US$225MGeneral Catalyst, HarbourVest Partners (leads) and 6 more
WaabiSeries BJun 2024US$200MUber, Khosla Ventures (leads) and 4 more
TaalasVenture roundFeb 2026US$169MQuiet Capital, Fidelity, Pierre Lamond
BiossilVenture roundSep 2026US$153MOpenAI Startup Fund (lead) and 7 more
Blue JSeries DAug 2025US$122MOak HC/FT, Sapphire Ventures (leads) and 3 more

US$ rounds converted to C$ at the Bank of Canada rate on each round's date to rank them.

All 206 companies

Data as of October 20, 2026.

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