Reports / Largest Canadian AI funding rounds since 2023
Largest Canadian AI funding rounds since 2023
The 50 largest equity rounds raised by Canadian AI companies since January 2023, topped by Tenstorrent's US$1.5B Series E in October 2026. Ranked by C$ value, as recorded by the Canadian AI Index as of October 26, 2026.
| # | Company | Round | Date | Amount | C$ | Investors |
|---|---|---|---|---|---|---|
| 1 | TenstorrentSanta Clara | Series E | Oct 2026 | US$1.5B | C$2.1B | Trace Capital, Innovation X (leads) and 4 more |
| 2 | ClioBurnaby | Series F | Jul 2024 | US$900M | C$1.2B | New Enterprise Associates (NEA) (lead) and 4 more |
| 3 | WaabiToronto | Series C | Jan 2026 | US$750M | C$1B | Khosla Ventures, G2 Venture Partners (leads) and 9 more |
| 4 | TenstorrentSanta Clara | Series D | Dec 2024 | US$693M | C$974M | Samsung Securities, AFW Partners (leads) and 2 more |
| 5 | ClioBurnaby | Series G | Nov 2025 | US$500M | C$701M | New Enterprise Associates (NEA) (lead) |
| 6 | CohereToronto | Venture round | Aug 2025 | US$500M | C$690M | Radical Ventures, Inovia Capital (leads) and 5 more |
| 7 | CohereToronto | Series D | Jul 2024 | US$500M | C$688M | PSP Investments (lead) and 6 more |
| 8 | CohereToronto | Series C | Jun 2023 | US$270M | C$361M | Inovia Capital (lead) and 9 more |
| 9 | BeaconToronto | Series B | Nov 2025 | US$250M | C$352M | General Catalyst, Lightspeed Venture Partners, D1 Capital Partners (leads) |
| 10 | BeaconToronto | Series C | Jan 2026 | US$225M | C$310M | General Catalyst, HarbourVest Partners (leads) and 6 more |
| 11 | WaabiToronto | Series B | Jun 2024 | US$200M | C$274M | Uber, Khosla Ventures (leads) and 4 more |
| 12 | TaalasToronto | Venture round | Feb 2026 | US$169M | C$231M | Quiet Capital, Fidelity, Pierre Lamond |
| 13 | BiossilToronto | Venture round | Sep 2026 | US$153M | C$217M | OpenAI Startup Fund (lead) and 7 more |
| 14 | EvenUpSan Francisco | Series E | Oct 2025 | US$150M | C$209M | Bessemer Venture Partners (lead) and 1 more |
| 15 | EvenUpSan Francisco | Series D | Oct 2024 | US$135M | C$184M | Bain Capital Ventures (lead) and 5 more |
| 16 | Blue JToronto | Series D | Aug 2025 | US$122M | C$168M | Oak HC/FT, Sapphire Ventures (leads) and 3 more |
| 17 | VentionMontréal | Series D | Jan 2026 | US$110M | C$150M | Investissement Québec (lead) and 3 more |
| 18 | Dominion DynamicsOttawa | Series A | Jun 2026 | C$139M | C$139M | Georgian (lead) and 13 more |
| 19 | CohereToronto | Bridge/Extension | Sep 2025 | US$100M | C$139M | Nexxus Capital Management, Inovia Capital, Radical Ventures and 3 more |
| 20 | TenstorrentSanta Clara | Venture round | Aug 2023 | US$100M | C$133M | Hyundai Motor Group, Samsung Catalyst Fund (leads) and 4 more |
| 21 | Veeda AIToronto | Seed | Aug 2026 | US$90M | C$124M | Radical Ventures, Khosla Ventures (leads) |
| 22 | MoonvalleyToronto | Seed | Jul 2025 | US$84M | C$115M | General Catalyst (lead) and 5 more |
| 23 | Conquest PlanningWinnipeg | Series B | Jun 2025 | US$80M | C$109M | Goldman Sachs Asset Management (lead) and 7 more |
| 24 | IdeogramToronto | Series A | Feb 2024 | US$80M | C$109M | Andreessen Horowitz (lead) and 4 more |
| 25 | CoLab SoftwareSt. John's | Series C | Nov 2025 | US$72M | C$101M | Intrepid Growth Partners (lead) and 5 more |
| 26 | Watch OutMontréal | Venture round | Dec 2025 | C$100M | C$100M | LISI Group, EMTEK |
| 27 | BenchSciToronto | Series D | May 2023 | C$95M | C$95M | Generation Investment Management (lead) and 4 more |
| 28 | Mecka AINew York | Series B | Oct 2026 | US$60M | C$86M | Sequoia Capital (lead) and 10 more |
| 29 | MindBridgeOttawa | Venture round | Jul 2023 | US$60M | C$79M | PSG Equity (lead) |
| 30 | StatheraMontréal | Series B | Jun 2026 | US$55M | C$78M | Maverick Silicon (lead) and 5 more |
| 31 | Novarc TechnologiesVancouver | Series B | Mar 2025 | US$50M | C$72M | Export Development Canada (lead) and 3 more |
| 32 | SpellbookToronto | Series B | Oct 2025 | US$50M | C$70M | Khosla Ventures (lead) and 5 more |
| 33 | BinSentryKitchener-Waterloo | Series C | Aug 2025 | US$50M | C$69M | Lead Edge Capital (lead) |
| 34 | GumloopSan Francisco | Series B | Mar 2026 | US$50M | C$68M | Benchmark (lead) and 6 more |
| 35 | EvenUpSan Francisco | Series B | Jun 2023 | US$50.5M | C$67M | Bessemer Venture Partners (lead) and 4 more |
| 36 | GeologicAICalgary | Series B | Jul 2025 | US$44M | C$61M | Blue Earth Capital (lead) and 4 more |
| 37 | BiossilToronto | Series B | Apr 2026 | US$43M | C$59M | Founders Fund, OpenAI Startup Fund (leads) |
| 38 | Moment EnergyCoquitlam | Series B | May 2026 | US$40M | C$54M | Evok Innovations (lead) and 7 more |
| 39 | Nanoprecise Sci CorpEdmonton | Series C | Mar 2025 | US$38M | C$54M | Yaletown Partners, BDC Industrial Innovation Venture Fund (leads) and 3 more |
| 40 | Congruence TherapeuticsMontréal | Venture round | Mar 2026 | US$39.5M | C$54M | Dimension, OrbiMed (leads) and 7 more |
| 41 | TaalasToronto | Venture round | Feb 2024 | US$38M | C$51M | Quiet Capital, Pierre Lamond (leads) |
| 42 | Mecka AINew York | Bridge/Extension | Jun 2026 | US$35M | C$49M | Framework Ventures (lead) |
| 43 | MicrologicQuébec City | Venture round | Sep 2026 | C$45M | C$45M | Fonds de solidarité FTQ, Investissement Québec |
| 44 | Congruence TherapeuticsMontréal | Venture round | Sep 2025 | US$32M | C$44M | Amplitude Ventures, Fonds de solidarité FTQ, Lumira Ventures and 6 more |
| 45 | SpareVancouver | Series B | Sep 2024 | C$42M | C$42M | Inovia Capital (lead) and 2 more |
| 46 | Arteria AIToronto | Series B | Oct 2023 | US$30M | C$41M | GGV Capital (lead) and 4 more |
| 47 | LandbaseSan Francisco | Series A | Jun 2025 | US$30M | C$41M | Sound Ventures, Picus Capital (leads) and 4 more |
| 48 | 4AG RoboticsSalmon Arm | Series B | Jul 2025 | C$40M | C$40M | Astanor, Cibus Capital (leads) and 6 more |
| 49 | Saris AIMontréal | Series A | May 2026 | US$28.8M | C$40M | 8VC (lead) and 4 more |
| 50 | GeologicAICalgary | Series A | Jul 2023 | US$30M | C$40M | Breakthrough Energy Ventures (lead) and 1 more |
Equity rounds only; grants and government contributions are in the yearly reports. US$ rounds converted to C$ at the Bank of Canada rate on each round's date to rank them.
Data as of October 26, 2026.