Funded Artificial Intelligence Startups in Toronto
Waabi’s $750M round (2026-01-28) is a clear outlier in this Toronto AI set: it dwarfs the next-largest disclosed round at $300M (Tenstorrent, 2024-06-14) a…
Waabi’s $750M round (2026-01-28) is a clear outlier in this Toronto AI set: it dwarfs the next-largest disclosed round at $300M (Tenstorrent, 2024-06-14) and sits far above the rest of the top disclosed amounts ($169M Taalas on 2026-02-19; $122M Blue J Legal on 2025-08-04; $100M Cohere on 2025-09-28; down to $28M ThinkLabs AI on 2026-03-31). The disclosed amounts also show a tight upper cluster around early 2025–2026, with multiple large rounds landing between 2025-08-04 and 2026-04-23 (Blue J Legal $122M on 2025-08-04; Cohere $100M on 2025-09-28; Biossil $70M on 2026-04-23).
Stage reporting is mixed: five of the 42 disclosed entries carry a “Series Unknown” classification (e.g., Blue J Legal is “Series D,” but Biossil is “Series Unknown” at $70M on 2026-04-23; Spellbook is “Series Unknown” at $40M on 2026-03-04; Armilla AI is “Series Unknown” at $25M on 2026-01-23; and others). Undisclosed rounds make up 8 of 50, while the oldest shown date is 2023-11-22 (Birdseye seed, $3M) and the most recent is 2026-07-14 (Looki, Series A, undisclosed).
Most recent rounds
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Frequently asked
What’s the largest disclosed AI round in this Toronto list, and how does it compare to the rest of the disclosed set?
Waabi’s $750M (2026-01-28) is the only disclosed deal in the top of the list that dwarfs the next-largest at $300M (Tenstorrent, 2024-06-14), with the next steps much lower at $169M (Taalas, 2026-02-19) and $122M (Blue J Legal, 2025-08-04). Even the next tier down stays below $100M ($100M Cohere, 2025-09-28).
Are there concentrated timing clusters among the largest disclosed rounds?
Yes. Large disclosed rounds stack across late 2025 into mid-2026, including Blue J Legal $122M on 2025-08-04, Cohere $100M on 2025-09-28, Biossil $70M on 2026-04-23, and ThinkLabs AI $28M on 2026-03-31. The list also spans a wide time window overall, from 2023-11-22 (Birdseye) to 2026-07-14 (Looki).
Which stage/label dominates, and does “Series Unknown” show up meaningfully?
Stage labels vary, but “Series Unknown” appears in multiple disclosed rows: Biossil ($70M on 2026-04-23), Spellbook ($40M on 2026-03-04), Armilla AI ($25M on 2026-01-23), NetraMark ($3M on 2026-01-13), and Resemble AI ($13M on 2025-12-07). That makes it a noticeable share within disclosed entries (5 of 42 disclosed).
How much funding is withheld in this dataset, and does that affect which rounds you can reliably benchmark?
Undisclosed amounts account for 8 of the 50 rows, including Looki (Series A, 2026-07-14) and the-hyve (Pre-Seed, 2026-06-01). For benchmark comparisons like “largest disclosed,” the ranking is driven by disclosed figures such as Waabi’s $750M and Tenstorrent’s $300M.
Are there any notable under/over-represented geography signals in the table?
All entries list Toronto (50), so geography is fully concentrated rather than diversified across multiple cities. Within that, the concentration reduces the value of cross-city comparisons and makes the timing and stage/amount spread the main differentiators.
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