Funded Food and Beverage Startups in Canada
Disclosed round sizes in Canada’s food and beverage segment are highly uneven: Foodtastic’s $128M (2022-12-15) is the only disclosed round above $50M and d…
Disclosed round sizes in Canada’s food and beverage segment are highly uneven: Foodtastic’s $128M (2022-12-15) is the only disclosed round above $50M and dwarfs the rest, where many entries cluster between $1M and $10M (for example, Cove Soda’s $15M on 2025-11-05; Borealis Foods’ $25M on 2023-10-04; Big Rock Brewery’s $20M on 2022-12-05). The smallest disclosed amount is The Magpie Cakery at $10K (2025-02-05), while another extreme low is multiple “undisclosed” rounds (not counted in size comparisons).
The 50 most recent rounds span 2021-10-14 (Pumpkin Kart, undisclosed) through 2025-11-05 (Cove Soda, $15M). “Series Unknown” is the dominant label (35 of 50 rows), with “undisclosed” also appearing (4 of 50 rows), and the data concentrates geographically: Toronto, Ontario is repeatedly present (e.g., Cove Soda, Relocalize on 2024-05-15 at $2M, Oatbox is Montreal-based, while vision-led rounds include Awake Chocolate’s Mississauga entry on 2025-07-16 at $6M). Temporal clustering is visible in 2024: several $2M–$10M rounds occur in mid-2024, including InVintory (2024-10-01, $2M), Vision Greens (2024-09-26, $10M), and New School Foods (2024-08-28, $6M).
Most recent rounds
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Frequently asked
What stands out most by deal size, and how does it compare to the rest of the disclosed rounds?
Foodtastic’s disclosed $128M (2022-12-15) is the only round above $50M and is far above the next-largest disclosed entries such as Swiss Water’s $33M (2022-11-07) and Borealis Foods’ $25M (2023-10-04). At the other end, The Magpie Cakery posted a disclosed $10K (2025-02-05), the smallest disclosed amount in the list.
Which stages dominate these Canadian food and beverage rounds, and how much is unlabeled?
“Series Unknown” appears in 35 of 50 rows, while “undisclosed” amounts appear in 4 of 50 rows. By comparison, explicitly stated stages include Seed (e.g., InVintory $2M on 2024-10-01) and named rounds like Series A (Cove Soda $15M on 2025-11-05; notch $10M on 2023-01-19) and Series B (Worximity Technology $11M on 2022-05-25; SimplyProtein $9M on 2022-03-01).
Is there a tight concentration of rounds in the most recent months of the dataset?
Yes. Within the latest 90 days of the list’s max date (2025-11-05), there are multiple rounds in 2025 such as Cove Soda ($15M, 2025-11-05), Chickapea ($3M, 2025-10-02), Awake Chocolate ($6M, 2025-07-16), and Flow Alkaline Spring Water ($2M, 2025-05-26). The list’s oldest dated entry is 2021-10-14 (Pumpkin Kart, undisclosed), indicating these recent rounds are a late-window spike rather than a uniform spread.
Do any cities show over-representation compared to others?
Toronto, Ontario appears repeatedly across different rounds and years, including Cove Soda (Halifax-based, not Toronto) but also Toronto entries like Relocalize (2024-05-15, $2M), Oatbox is Montréal-based, and Vision Greens is Welland-based—still, Toronto itself recurs with multiple distinct companies such as InVintory (2024-10-01, $2M), Bobba (Québec, not Toronto), and more. Other provinces also repeat at the regional level, such as British Columbia showing multiple entries including Flow Alkaline Spring Water’s Toronto base excluded, but items like Vegain (Nanaimo, 2025-03-19, $160K) and Blume (Vancouver, 2022-07-22, $2M).
Are there outliers beyond size—like unusually small disclosed rounds or different naming/label patterns?
Two types of outliers stand out: extremely small disclosed rounds (The Magpie Cakery at $10K on 2025-02-05) versus “undisclosed” amounts (e.g., UMYUM FOOD on 2025-02-05, Fody Food on 2023-11-14, and ZeroIN on 2023-05-07). Separately, one major size outlier is Foodtastic at $128M (2022-12-15), which sits in the same segment label (Food and Beverage) as much smaller rounds like Vegain’s $160K (2025-03-19).
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