# Cycle Momentum Portfolio Map 2026: 25 Startups by Sector > Cycle Momentum's portfolio mapped: 25 startups it has backed, in 6 sectors from Cleantech, Energy and Agtech on. Source: https://millionrounds.com/portfolio-maps/cycle-momentum-portfolio-map (Millionrounds; every figure on the page links to its filing or article) ## Cleantech 7 - [Polystyvert](https://millionrounds.com/company/polystyvert) - [SPARK Microsystems](https://millionrounds.com/company/spark-microsystems) - [ReliOn](https://millionrounds.com/company/relion) - [FTEX](https://millionrounds.com/company/ftex) - [Bello](https://millionrounds.com/company/bello) - [GreenLIB Materials](https://millionrounds.com/company/greenlib-materials) - [Island Water Technologies](https://millionrounds.com/company/island-water-technologies) ## Energy 5 - [UgoWork](https://millionrounds.com/company/ugowork) - [BluWave-ai](https://millionrounds.com/company/bluwave-ai) - [Jaza](https://millionrounds.com/company/jaza) - [Green Graphite Technologies](https://millionrounds.com/company/green-graphite-technologies) - [Calogy Solutions](https://millionrounds.com/company/calogy-solutions) ## Agtech 4 - [Sollum Technologies](https://millionrounds.com/company/sollum-technologies) - [ChrysaLabs](https://millionrounds.com/company/chrysalabs) - [Opalia](https://millionrounds.com/company/opalia) - [Genuine Taste](https://millionrounds.com/company/genuine-taste) ## AI 3 - [*A* Axya](https://millionrounds.com/company/axya) - [RailVision Analytics](https://millionrounds.com/company/railvision-analytics) - [Rithmik Solutions](https://millionrounds.com/company/rithmik-solutions) ## Chemicals & Materials 3 - [UpSolv](https://millionrounds.com/company/upsolv) - [Agapyo](https://millionrounds.com/company/agapyo) - [Folia Materials](https://millionrounds.com/company/folia-materials) ## Biotech 3 - [Aplantex](https://millionrounds.com/company/aplantex) - [Dispersa](https://millionrounds.com/company/dispersa) - [Freshr Technologies](https://millionrounds.com/company/freshr-technologies) ## Segment by segment ### Cleantech 7 startups · $62M raised - [**Polystyvert**](https://millionrounds.com/company/polystyvert) Polystyvert est une entreprise montréalaise du secteur des technologies propres qui révolutionne le monde du recyclage des plastiq Canada $29M - [**SPARK Microsystems**](https://millionrounds.com/company/spark-microsystems) SPARK Microsystems is a Canadian fabless semiconductor company based in Montreal, Quebec. Canada $25M - [**ReliOn**](https://millionrounds.com/company/relion) Relion is an online platform for shift scheduling and time registration solutions. Canada $3.0M - [**FTEX**](https://millionrounds.com/company/ftex) FTEX is a Montreal-based company founded in 2017 that specializes in advanced electric vehicle (EV) powertrain solutions, focusing Canada $1.4M - [**Bello**](https://millionrounds.com/company/bello) Bello is a work collaboration platform based in Copenhagen, Denmark, designed for freelancers, agencies, and clients. Canada $1.1M - [**GreenLIB Materials**](https://millionrounds.com/company/greenlib-materials) GreenLIB Materials is a long-term recovery process for key materials from all forms of lithium-ion batteries. Canada $1.1M - [**Island Water Technologies**](https://millionrounds.com/company/island-water-technologies) IWT develops and markets solar-powered wastewater treatment systems for domestic and industrial applications. Canada $500K ### Energy 5 startups · $47M raised - [**UgoWork**](https://millionrounds.com/company/ugowork) UgoWork, also known as Ingeniarts Technologies Inc., is a Canadian technology company based in Quebec City, specializing in lithiu Canada $26M - [**BluWave-ai**](https://millionrounds.com/company/bluwave-ai) BluWave-ai is a Canadian clean-tech company based in Ottawa, Ontario, focused on artificial intelligence solutions for the energy sector. Canada $16M - [**Jaza**](https://millionrounds.com/company/jaza) Jaza is building a network of renewable energy hubs in African communities beyond the electrical grid - $1.7M - [**Green Graphite Technologies**](https://millionrounds.com/company/green-graphite-technologies) Green Graphite Technologies develops a cleaner process to purify graphites for electric vehicles. Canada $1.5M - [**Calogy Solutions**](https://millionrounds.com/company/calogy-solutions) Calogy Solutions is a thermal management and battery systems company focused on Li-ion batteries for electric transport, energy st Canada $1.1M ### Agtech 4 startups · $40M raised - [**Sollum Technologies**](https://millionrounds.com/company/sollum-technologies) Sollum Technologies is a Montreal-based cleantech company that designs and manufactures smart, dynamic LED lighting solutions for Canada $25M - [**ChrysaLabs**](https://millionrounds.com/company/chrysalabs) ChrysaLabs is a Montreal-based ag-tech company founded in 2017, specializing in portable, AI-powered soil analysis. Canada $11M - [**Opalia**](https://millionrounds.com/company/opalia) Opalia is a pioneering Canadian company based in Montreal, founded in 2020 by Jennifer Côté and Lucas House. Canada $3.8M - [**Genuine Taste**](https://millionrounds.com/company/genuine-taste) Genuine Taste is a cell agriculture company based in Toronto, Ontario, Canada, founded in 2022. Canada $69K ### AI 3 startups · $21M raised - [*A* **Axya**](https://millionrounds.com/company/axya) Canada $16M - [**RailVision Analytics**](https://millionrounds.com/company/railvision-analytics) RailVision Analytics is a Montreal-based technology company founded in 2018, specializing in AI-enabled software solutions for the Canada $4.0M - [**Rithmik Solutions**](https://millionrounds.com/company/rithmik-solutions) Rithmik Solutions is a Montreal-based mining technology company established in 2017. Canada $1.5M ### Chemicals & Materials 3 startups · $19M raised - [**UpSolv**](https://millionrounds.com/company/upsolv) UpSolv is a Montreal-based cleantech company specializing in recycling hard-to-recycle thermoplastics, particularly polystyrene (PS) and ABS. Canada $16M - [**Agapyo**](https://millionrounds.com/company/agapyo) agapyo develops and delivers the compostable alternative to petro-plastic with their thermoplastic lignocellulose jam product. Canada $1.9M - [**Folia Materials**](https://millionrounds.com/company/folia-materials) Folia Materials: using paper as a super material United States $800K ### Biotech 3 startups · $10M raised - [**Aplantex**](https://millionrounds.com/company/aplantex) Aplantex produces plant-based active compounds for application in the pharma, cosmetics, and agri-food industries. Canada $5.8M - [**Dispersa**](https://millionrounds.com/company/dispersa) Dispersa is a Canadian cleantech and biotechnology startup based in Laval, Quebec. Canada $4.1M - [**Freshr Technologies**](https://millionrounds.com/company/freshr-technologies) Freshr Technologies develops active packaging solutions to prolong the shelf life of fresh fish. Canada $169K **How this map is made.** Every startup here has raised money in a round we track that names Cycle Momentum as an investor, the first in 2018. Each sits under its main sector, read from its rounds, and each sector shows its best-funded first; sectors with fewer than three companies are left off. Rebuilt nightly; updated 15 November 2026. ## More portfolio maps [All portfolios](https://millionrounds.com/portfolio-maps) [VC firm · Canada **BDC Capital** 192 startups · 12 sectors · $7.8B](https://millionrounds.com/portfolio-maps/bdc-venture-capital-portfolio-map)[VC firm · Canada **Village Global** 155 startups · 12 sectors · $10B](https://millionrounds.com/portfolio-maps/village-global-portfolio-map)[VC firm · Canada **Inovia Capital** 129 startups · 12 sectors · $14B](https://millionrounds.com/portfolio-maps/inovia-capital-portfolio-map)[VC firm · Canada **Reach** 108 startups · 10 sectors · $2.5B](https://millionrounds.com/portfolio-maps/reach-portfolio-map)[VC firm · Canada **Clocktower Ventures** 74 startups · 6 sectors · $2.5B](https://millionrounds.com/portfolio-maps/clocktower-ventures-portfolio-map)[VC firm · Canada **Radical Ventures** 68 startups · 6 sectors · $22B](https://millionrounds.com/portfolio-maps/radical-ventures-portfolio-map) ## Raising from investors like Cycle Momentum? 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