# Top 16 Deep Tech Startups in Toronto-Waterloo by Funding (2026)

> The 16 best-funded deep tech startups in Toronto-Waterloo, ranked by total funding raised: $515M combined.

Source: https://millionrounds.com/top-lists/deep-tech-startups-toronto-waterloo (Millionrounds; every figure on the page links to its filing or article)

- 1 [**Taalas** Taalas is creating a platform for quickly turning any AI model into custom silicon.](https://millionrounds.com/company/taalas) Taalas is creating a platform for quickly turning any AI model into custom silicon. *Founded* 2023 Toronto, Canada **$169M** last round Feb 2026
- 2 [**Untether AI** Untether AI develops AI chips to enable new frontiers in AI applications.](https://millionrounds.com/company/untether-ai) Untether AI develops AI chips to enable new frontiers in AI applications. *Founded* 2018 Toronto, Canada **$158M** last round Jul 2021
- 3 [**Kepler Communications** Kepler Communications is a satellite communications company.](https://millionrounds.com/company/kepler-communications) Kepler Communications is a satellite communications company. *Founded* 2015 Toronto, Canada **$108M** last round Apr 2023
- 4 [**Astrus** Astrus is a Toronto-based artificial intelligence startup founded in 2022, focusing on AI-driven Electronic Design Automation (EDA) for analog microchip layout design.](https://millionrounds.com/company/astrus) Astrus is a Toronto-based artificial intelligence startup founded in 2022, focusing on AI-driven Electronic Design Automation (EDA) for analog microchip layout design. *Founded* 2022 Toronto, Canada **$20M** last round Sept 2026
- 5 [**Promise Robotics** Promise Robotics is a Canadian startup based in Toronto, specializing in artificial intelligence and advanced manufacturing for the homebuilding industry.](https://millionrounds.com/company/promise-robotics) Promise Robotics is a Canadian startup based in Toronto, specializing in artificial intelligence and advanced manufacturing for the homebuilding industry. *Founded* 2021 Toronto, Canada **$17M** last round Jun 2025
- 6 [**Canada Rocket Company** Canada Rocket Company is an aerospace company engaged in the development of defence and space infrastructure for sovereign access to space.](https://millionrounds.com/company/canada-rocket-company) Canada Rocket Company is an aerospace company engaged in the development of defence and space infrastructure for sovereign access to space. *Founded* 2025 Toronto, Canada **$11M** last round Mar 2026
- 7 [**NordSpace** NordSpace is an aerospace company that provides an end-to-end responsive space launch system.](https://millionrounds.com/company/nordspace) NordSpace is an aerospace company that provides an end-to-end responsive space launch system. *Founded* 2022 Markham, Canada **$11M** last round May 2026
- 8 [**Canada Jetlines** Canada Jetlines is an all-Canadian leisure airline providing passengers with travel to destinations within the U.S., Caribbean, and Mexico.](https://millionrounds.com/company/canada-jetlines) Canada Jetlines is an all-Canadian leisure airline providing passengers with travel to destinations within the U.S., Caribbean, and Mexico. *Founded* 2021 Mississauga, Canada **$10M** last round Sept 2023
- 9 [**Nfinite Nanotech** Nfinite Nanotechnology develops a nanocoating technology that enables the fabrication of devices such as photovoltaics, and batteries.](https://millionrounds.com/company/nfinite-nanotech) Nfinite Nanotechnology develops a nanocoating technology that enables the fabrication of devices such as photovoltaics, and batteries. *Founded* 2021 Waterloo, Canada **$6.5M** last round May 2024
- 10 [**Meissner** MEISSNER is a materials company dedicated to discovering and commercializing high-temperature superconductors that do not rely on rare-earth elements.](https://millionrounds.com/company/meissner) MEISSNER is a materials company dedicated to discovering and commercializing high-temperature superconductors that do not rely on rare-earth elements. *Founded* 2025 Toronto, Canada **$2.6M** last round Sept 2026
- 11 [**Neptune Nanotechnologies** Neptune Nanotechnologies is an early-stage technology startup focused on bio-nano materials.](https://millionrounds.com/company/neptune-nanotechnologies) Neptune Nanotechnologies is an early-stage technology startup focused on bio-nano materials. *Founded* 2022 Markham, Canada **$1.4M** last round Jul 2023
- 12 [**Canadian Strategic Missions Corporation** CSMC is an infrastructure and technology company focused on filling key gaps in future space exploration.](https://millionrounds.com/company/canadian-strategic-missions-corporation) CSMC is an infrastructure and technology company focused on filling key gaps in future space exploration. *Founded* - Toronto, Canada **$717K** last round Jun 2026
- 13 [**Metabacus** Metabacus is a software company that provides system level electronic design automation (EDA) solutions for semiconductor and systems companies.](https://millionrounds.com/company/metabacus) Metabacus is a software company that provides system level electronic design automation (EDA) solutions for semiconductor and systems companies. *Founded* 2008 Toronto, Canada **$500K** last round Apr 2008
- 14 [**Redtree Robotics** Redtree Robotics offers chipsets that enables users to connect sensors, actuators, components, and others parts to robots.](https://millionrounds.com/company/redtree-robotics) Redtree Robotics offers chipsets that enables users to connect sensors, actuators, components, and others parts to robots. *Founded* 2011 Kitchener, Canada **$267K** last round Jan 2015
- 15 [**Bio Graphene Solutions** Bio Graphene Solutions (BGS) is a Canadian clean-tech manufacturer based in Toronto, Ontario.](https://millionrounds.com/company/bio-graphene-solutions) Bio Graphene Solutions (BGS) is a Canadian clean-tech manufacturer based in Toronto, Ontario. *Founded* 2019 Toronto, Canada **$250K** last round Dec 2022
- 16 [**Studio 1 Labs** Studio 1 Labs are creators of Multi-Dimensional Sensors that feel the warmth, presence, and embrace of the surrounding environment.](https://millionrounds.com/company/studio-1-labs) Studio 1 Labs are creators of Multi-Dimensional Sensors that feel the warmth, presence, and embrace of the surrounding environment. *Founded* 2015 Markham, Canada **$74K** last round Feb 2024

**Total funding** how the list is ranked

**15 November 2026** updated nightly

**Rounds we track** source: Millionrounds

Companies whose funding rounds we classed as any of these sectors, ranked by the total they have raised in rounds we hold. Nobody pays to be on a list.

## Who backed them?

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## More deep tech lists

[See all](https://millionrounds.com/top-lists?t=Deep%20tech)

[*S* *W* *T* **Deep tech startups worldwide** 2,050 companies · $187B](https://millionrounds.com/top-lists/deep-tech-startups)[*S* *W* *BO* **Deep tech startups in the United States** 1,000 companies · $156B](https://millionrounds.com/top-lists/deep-tech-startups-united-states)[*NR* *H* *O* **Deep tech startups in Europe** 592 companies · $40B](https://millionrounds.com/top-lists/deep-tech-startups-europe)[*W* *C* *G* **Deep tech startups in Bay Area** 231 companies · $61B](https://millionrounds.com/top-lists/deep-tech-startups-bay-area)[*O* *W* *U* **Deep tech startups in the United Kingdom** 185 companies · $19B](https://millionrounds.com/top-lists/deep-tech-startups-united-kingdom)[*E* *AA* *Q* **Deep tech startups in France** 81 companies · $2.4B](https://millionrounds.com/top-lists/deep-tech-startups-france)[*X* *L* *T* **Deep tech startups in Canada** 69 companies · $2.1B](https://millionrounds.com/top-lists/deep-tech-startups-canada)[*NR* *H* *QS* **Deep tech startups in Germany** 66 companies · $14B](https://millionrounds.com/top-lists/deep-tech-startups-germany)

## More lists for Toronto-Waterloo

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[*C* *H8* *W* **AI startups in Toronto-Waterloo** 102 companies · $14B](https://millionrounds.com/top-lists/ai-startups-toronto-waterloo)[*DG* *DC* *B* **Health startups in Toronto-Waterloo** 92 companies · $1.7B](https://millionrounds.com/top-lists/health-startups-toronto-waterloo)[*W* *BJ* *C* **Fintech startups in Toronto-Waterloo** 25 companies · $2.4B](https://millionrounds.com/top-lists/fintech-startups-toronto-waterloo)[*AP* *CP* *NR* **Energy startups in Toronto-Waterloo** 15 companies · $2.7B](https://millionrounds.com/top-lists/energy-startups-toronto-waterloo)