Funded Artificial Intelligence Startups in Toronto
Disclosed deal sizes in Toronto’s funded AI list are highly skewed: the largest disclosed round is Waabi’s $750M on 2026-01-28, followed by Taalas at $169M…
Disclosed deal sizes in Toronto’s funded AI list are highly skewed: the largest disclosed round is Waabi’s $750M on 2026-01-28, followed by Taalas at $169M (2026-02-19) and Biossil at $70M (2026-04-23). In contrast, many other disclosed rounds cluster below $25M (e.g., Tenet at $2M on 2026-06-09; Tempo at $5M on 2025-10-22), while the smallest disclosed amount is SnapWrite’s $10K on 2024-10-03.
Temporal concentration is also visible. The 50 rows span 2023-11-21 (Ryte) through the most recent round on 2026-06-09 (Tenet), with multiple entries occurring in tight windows such as 2026-03-04 (Spellbook $40M; Armilla AI $25M is nearby but dated 2026-01-23; and several $2–$3M rounds also land on 2025-03-04). Stage labeling is mixed: 34 of 50 rows are “Series Unknown,” and 3 additional entries are “undisclosed,” including the-hyve (2026-06-01) and Lydia.ai (2024-12-27).
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Frequently asked
What’s the largest disclosed round in this Toronto AI slice, and does it dwarf the rest?
Waabi’s $750M (Series C) on 2026-01-28 is the clear outlier; the next-largest disclosed amounts in the table are $169M (Taalas, 2026-02-19) and $122M (Blue J Legal, 2025-08-04). Most other disclosed rounds sit far below these figures, such as Tenet at $2M (2026-06-09) and NetraMark at $3M (2026-01-13).
Are the most recent rounds clustered tightly near the top of the date range?
Yes. The newest disclosed entry is Tenet on 2026-06-09 ($2M), and several rounds appear within days of it, including shuriii on 2026-06-05 ($130K) and the-hyve on 2026-06-01 (undisclosed). Earlier, there are also repeated dates in the same month/year window, such as multiple March 2025 filings around 2025-03-04 (ACTO $2M; Ada $2M; Ecopia AI $3M).
How common are missing amounts or missing series labels, and does it affect outlier detection?
Missingness is substantial: 34 of 50 rows are labeled “Series Unknown,” and 3 rows show “undisclosed” amounts (the-hyve 2026-06-01; StartupFuel 2025-07-10; Lydia.ai 2024-12-27). Despite this, outlier detection remains dominated by disclosed amounts like Waabi’s $750M and Tenstorrent’s $300M (2024-06-14), both clearly stand out among disclosed figures.
Which disclosed rounds represent the floor and how does that minimum compare to the upper tail?
The smallest disclosed amount is SnapWrite at $10K on 2024-10-03, while the upper tail includes Waabi at $750M (2026-01-28) and Tenstorrent at $300M (2024-06-14). That spread indicates extreme dispersion between micro-round disclosures and very large funded rounds, even within the same Toronto AI category.
Does the listing suggest a stage mix dominated by one label rather than a balanced spread?
The stage mix is heavily weighted to “Series Unknown”: 34 of 50 entries use that classification, which is much larger than explicitly labeled categories visible here (e.g., Seed appears on multiple rows like Tempo $5M on 2025-10-22 and WOMBO $9M on 2024-09-04). Examples of higher explicit stages include Waabi (Series C $750M, 2026-01-28) and Cohere (Series D $100M, 2025-09-28), but these appear amid many unknowns.
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