Funded Startups in Waterloo
Disclosed deal sizes in Waterloo show a clear outlier at the top: Magnet Forensics raised $74M (2021-12-07), followed by ApplyBoard at $70M (2020-09-16) an…
Disclosed deal sizes in Waterloo show a clear outlier at the top: Magnet Forensics raised $74M (2021-12-07), followed by ApplyBoard at $70M (2020-09-16) and then a step down to $35M (Convictional, 2022-02-17). The large rounds are concentrated in a small set of companies, while the disclosed tail is much smaller—Maerospace’s $100K (2022-08-11) is the smallest disclosed amount.
The timing pattern is also uneven. Rounds span 2020-09-16 through 2026-08-04, with the 2022 cohort the thickest (10 rounds) and the most recent year showing momentum (2026 has 5 rounds, including LoopX’s $4M on 2026-08-04). Sector and stage mix skew toward early AI and data/IT categories: AI appears in 9 entries overall, while Series Unknown accounts for 18 entries, and Seed appears in 8 entries.
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Frequently asked
What is the largest disclosed round in Waterloo, and how big is the gap versus the rest?
The largest disclosed round is Magnet Forensics at $74M (2021-12-07). The next-largest is ApplyBoard at $70M (2020-09-16), and then the list steps down to $35M (Convictional on 2022-02-17).
Which companies represent the top end of disclosed funding sizes, and what pattern do they share?
The top disclosed amounts cluster among Magnet Forensics ($74M, 2021-12-07), ApplyBoard ($70M, 2020-09-16), Convictional ($35M, 2022-02-17), and Axelar ($30M, 2025-03-11). Other entries in the same upper band include Geeq ($25M, 2022-08-08) and Mappedin ($25M, 2026-04-07).
Are there recent timing clusters within these Waterloo rounds?
Recent activity includes 2025-12-04 (Dejero, $20M) and 2026-01-12 (Applied Brain Research, undisclosed), plus the latest listed round on 2026-08-04 (LoopX, $4M). By year, 2022 has the highest count (10), while 2026 is also active with 5 rounds across 2026-04 through 2026-08.
How dominant are AI, and what share of entries are labeled Series Unknown versus earlier-stage categories?
Artificial Intelligence (AI) appears in 9 entries, and Data and Analytics appears in 4. On the stage side, Series Unknown accounts for 18 entries, while Seed is 8 and Pre-Seed is 5.
Is there a clear outlier on the low end of disclosed amounts?
Yes. Maerospace’s $100K (2022-08-11) is the smallest disclosed amount, far below the next-largest disclosed amounts that remain in the $150K–$1M range (e.g., Periculum $150K on 2023-06-20).
Do any cities repeat under the same name, suggesting naming or geography ambiguity?
Beyond Waterloo, the page includes other “Waterloo” locations: enVgo is listed as “Waterloo, Caroni, Trinidad and Tobago” (2025-06-10), and Moziac is listed as “Waterloo, New York, United States” (2023-02-15). All other companies shown are explicitly listed under Waterloo with different sectors and stages.
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