Series B Funded Startups in Canada
Among the 50 most recent Series B rounds in Canada, one disclosed amount stands far above the rest: Beacon Software’s $250M round on 2025-11-06.
Among the 50 most recent Series B rounds in Canada, one disclosed amount stands far above the rest: Beacon Software’s $250M round on 2025-11-06. The next-largest disclosed rounds cluster in a much lower tier (e.g., Prenuvo at $120M on 2025-02-13, e2ip technologies at $120M on 2023-04-26, and LayerZero Labs at $120M on 2023-04-04), while most other disclosed deals shown sit at $50M or below (e.g., Spellbook $50M on 2025-10-08; Valence $50M on 2025-09-22; dcbel $50M on 2023-08-17).
Geographically, Toronto appears repeatedly as the base location across multiple sectors (e.g., Beacon Software in Toronto at $250M on 2025-11-06; LemFi in Toronto at $53M on 2025-01-14; Motion in Toronto at $30M on 2024-09-19), while the date window for this slice runs from 2023-03-20 (Operto Guest Technologies) to 2025-11-06 (Beacon Software). Sector mix is broad but AI shows up most consistently in the list (e.g., Flare $15M on 2025-11-03; Arteria AI $30M on 2023-10-26; ODAIA $25M on 2023-05-01), and 9 of the 50 rows have undisclosed amounts (e.g., Cyclic Materials on 2025-04-01; Greenspace on 2025-03-11; Fody Food on 2023-11-14).
Most recent rounds
50 shownRelated listings
Frequently asked
What’s the biggest disclosed Series B in this Canada list, and how extreme is it versus the rest?
Beacon Software’s disclosed $250M round on 2025-11-06 dwarfs every other disclosed amount in the table; the next-largest visible disclosed rounds include Prenuvo at $120M (2025-02-13) and multiple $120M deals in 2023 (e2ip technologies on 2023-04-26, LayerZero Labs on 2023-04-04). Most other disclosed rounds shown cluster at or below $50M (e.g., Spellbook $50M on 2025-10-08; Valence $50M on 2025-09-22).
Are there specific sectors or industries over-represented among these Series B rounds?
Artificial Intelligence is the most repeated sector label across the list (e.g., Flare on 2025-11-03 at $15M; Spellbook on 2025-10-08 at $50M; dcbel on 2023-08-17 at $50M; ODAIA on 2023-05-01 at $25M). Other labels appear multiple times but without the same frequency pattern (e.g., Financial Services shows up repeatedly with deals like FISPAN $30M on 2025-06-03 and OneVest $20M on 2025-01-29).
Where do rounds cluster geographically, and does Toronto show up disproportionately?
Toronto is a recurring base location across multiple entries and sectors, including Beacon Software (Toronto) at $250M on 2025-11-06, LemFi (Toronto) at $53M on 2025-01-14, and Motion (Toronto) at $30M on 2024-09-19. The list also includes strong secondary nodes (e.g., Montréal frequently appears for AI and other categories such as Flare on 2025-11-03 and dcbel on 2023-08-17), but Toronto is consistently present throughout the time span shown.
Which deals fall closest to the top of the date range in this table?
The most recent rounds are concentrated in late 2025: Beacon Software on 2025-11-06 ($250M), Flare on 2025-11-03 ($15M), and Spellbook on 2025-10-08 ($50M) are within about a month of each other. That late-2025 window also contains other large disclosed entries like Valence on 2025-09-22 ($50M) and Botpress on 2025-06-23 ($25M).
How should an analyst handle disclosure gaps here, and are there small-amount outliers among disclosed rounds?
Disclosure is incomplete: 9 of the 50 rows list an undisclosed amount (e.g., Cyclic Materials on 2025-04-01 and Fody Food on 2023-11-14). Among disclosed amounts, the smallest visible round is Zucara Therapeutics at $5M on 2025-05-01, which sits far below nearby low-ticket deals such as CoLab Software at $4M on 2025-03-19—both are markedly smaller than the dominant $50M+ tier (e.g., Terra CO2 Technologies $82M on 2025-02-18 and Prenuvo $120M on 2025-02-13).
Know which startups just got funded. Every week.
Fresh funding rounds, new companies, and the sectors moving fastest — in your inbox every Monday morning.
Free. Sent every Monday. Unsubscribe anytime.