# Top 21 Oil & Gas Startups in Toronto by Funding (2026)

> The 21 best-funded oil & Gas startups in Toronto, ranked by total funding raised: $896M combined. With founding year, headquarters and each company's rounds.

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

- 1 [**Generation Mining** Generation Mining is a mineral development company that focuses on zinc and molybdenum projects in Canada.](https://millionrounds.com/company/generation-mining) Generation Mining is a mineral development company that focuses on zinc and molybdenum projects in Canada. *Founded* 2018 Toronto, Canada **$311M** last round Jun 2026
- 2 [**New Found Gold Corp.** New Found Gold Corp.](https://millionrounds.com/company/new-found-gold-corp) New Found Gold Corp. *Founded* 2015 Toronto, Canada **$134M** last round Apr 2026
- 3 [**Cadillac Mines** Cadillac Mines is a privately held Canadian mining firm run by a diversified and experienced team of specialists.](https://millionrounds.com/company/cadillac-mines) Cadillac Mines is a privately held Canadian mining firm run by a diversified and experienced team of specialists. *Founded* - Toronto, Canada **$130M** last round Jul 2026
- 4 [**Kinterra Capital** Kinterra Capital is a private equity firm focused on investing in the critical metals required to advance the energy transition.](https://millionrounds.com/company/kinterra-capital) Kinterra Capital is a private equity firm focused on investing in the critical metals required to advance the energy transition. *Founded* - Toronto, Canada **$80M** last round Sept 2025
- 5 [**Arizona Sonoran Copper Company** Arizona Sonoran Copper Company primarily operates as a copper developer and producer.](https://millionrounds.com/company/arizona-sonoran-copper-company) Arizona Sonoran Copper Company primarily operates as a copper developer and producer. *Founded* 2019 Toronto, Canada **$69M** last round Nov 2025
- 6 [**Emerita Resources** A Premier Zinc Exploration Platform.](https://millionrounds.com/company/emerita-resources) A Premier Zinc Exploration Platform. *Founded* 2012 Toronto, Canada **$50M** last round Sept 2025
- 7 [**Canada Nickel Company** Canada Nickel Company is a mining company that develops nickel-sulphide projects to support electric vehicle and steel markets.](https://millionrounds.com/company/canada-nickel-company) Canada Nickel Company is a mining company that develops nickel-sulphide projects to support electric vehicle and steel markets. *Founded* 2019 Toronto, Canada **$37M** last round May 2026
- 8 [**Hercules Metals** Hercules Metals is focused on the exploration and development of a large-scale disseminated silver-lead-zinc system at Hercules.](https://millionrounds.com/company/hercules-metals) Hercules Metals is focused on the exploration and development of a large-scale disseminated silver-lead-zinc system at Hercules. *Founded* - Toronto, Canada **$23M** last round May 2026
- 9 [**Fury Gold Mines** Fury Gold Mines is an exploration and development company strategically positioned in three prolific mining regions.](https://millionrounds.com/company/fury-gold-mines) Fury Gold Mines is an exploration and development company strategically positioned in three prolific mining regions. *Founded* 2013 Toronto, Canada **$13M** last round Sept 2025
- 10 [**Lithium Ionic** Lithium Ionic is a mining company exploring and developing lithium properties.](https://millionrounds.com/company/lithium-ionic) Lithium Ionic is a mining company exploring and developing lithium properties. *Founded* 2022 Toronto, Canada **$11M** last round Sept 2025
- 11 [**Yava Technologies** Yava Technologies develops and licenses mineral recovery process solutions for mining and mineral processing industries.](https://millionrounds.com/company/yava-technologies) Yava Technologies develops and licenses mineral recovery process solutions for mining and mineral processing industries. *Founded* 1990 Toronto, Canada **$8.7M** last round Jan 2014
- 12 [**American Eagle Gold** American Eagle Gold is focused on advancing its NAK property](https://millionrounds.com/company/american-eagle-gold) American Eagle Gold is focused on advancing its NAK property *Founded* - Toronto, Canada **$7.9M** last round Apr 2026
- 13 [**ONGold Resources** ONGold Resources is a mining company that explores and develops gold mines.](https://millionrounds.com/company/ongold-resources) ONGold Resources is a mining company that explores and develops gold mines. *Founded* - Toronto, Canada **$6.7M** last round Sept 2025
- 14 [**North American Palladium** NAP is an established precious metals producer that has been operating its flagship Lac des Iles mine (LDI) located in Ontario, Canada](https://millionrounds.com/company/north-american-palladium) NAP is an established precious metals producer that has been operating its flagship Lac des Iles mine (LDI) located in Ontario, Canada *Founded* 1993 Toronto, Canada **$4.5M** last round Feb 2014
- 15 [**Aston Bay Holdings** Aston Bay is a mining company that specializes in the fields of real estate and exploration of precious metals.](https://millionrounds.com/company/aston-bay-holdings) Aston Bay is a mining company that specializes in the fields of real estate and exploration of precious metals. *Founded* 2011 Toronto, Canada **$3.7M** last round Sept 2023
- 16 [**Bald Eagle Gold** Bald Eagle Gold is a mining company that focuses on the exploration and development of assets in known gold districts in the Americas.](https://millionrounds.com/company/bald-eagle-gold) Bald Eagle Gold is a mining company that focuses on the exploration and development of assets in known gold districts in the Americas. *Founded* - Toronto, Canada **$2.3M** last round May 2022
- 17 [**Maple Gold Mines** Maple Gold Mines is a Canada-based gold exploration company engaged in gold mining sector.](https://millionrounds.com/company/maple-gold-mines) Maple Gold Mines is a Canada-based gold exploration company engaged in gold mining sector. *Founded* 2010 Toronto, Canada **$2.3M** last round Jun 2026
- 18 [**Palamina** Palamina is an exploration company focused on five gold projects.](https://millionrounds.com/company/palamina) Palamina is an exploration company focused on five gold projects. *Founded* 2015 Toronto, Canada **$1.8M** last round Feb 2026
- 19 [**ReThink Milling** Rethink Milling focused on revolutionizing the comminution (milling) process in the mining industry through innovative technology.](https://millionrounds.com/company/rethink-milling) Rethink Milling focused on revolutionizing the comminution (milling) process in the mining industry through innovative technology. *Founded* - Toronto, Canada **$276K** last round Jun 2025
- 20 [**Western Metallica Resources** Western Metallica is a mineral exploration company.](https://millionrounds.com/company/western-metallica-resources) Western Metallica is a mineral exploration company. *Founded* 2020 Toronto, Canada **$270K** last round May 2026
- 21 [**BULGOLD** Bulgold is an a canadian gold exploration company](https://millionrounds.com/company/bulgold) Bulgold is an a canadian gold exploration company *Founded* - Toronto, Canada **$53K** last round Jul 2025

**Total funding** how the list is ranked

**15 November 2026** updated nightly

**Rounds we track** source: Millionrounds

Companies whose funding rounds we classed in this sector, ranked by the total they have raised in rounds we hold. Nobody pays to be on a list.

## Who backed them?

Open any company for its rounds and investors, or search the investors who back oil & Gas startups in Toronto in the app, with filters, lists and exports.

[Find their investors](https://millionrounds.com/login?join=1&next=/app/investors)[All top lists](https://millionrounds.com/top-lists)

## More oil & gas lists

[See all](https://millionrounds.com/top-lists?t=Oil%20%26%20Gas)

[*AG* *SR* *GM* **Oil & Gas startups in Canada** 98 companies · $2.8B](https://millionrounds.com/top-lists/oil-gas-startups-canada)[*SV* *AG* *BT* **Oil & Gas startups that raised in 2026** 84 companies · $2.9B in 2026](https://millionrounds.com/top-lists/oil-gas-startups-raised-2026)[*KM* *NM* *NM* **Oil & Gas startups in the United States** 52 companies · $4.7B](https://millionrounds.com/top-lists/oil-gas-startups-united-states)[*AG* *AG* *FC* **Oil & Gas startups in Vancouver** 50 companies · $1.2B](https://millionrounds.com/top-lists/oil-gas-startups-vancouver)[*AG* *GM* *NF* **Oil & Gas startups in Canada that raised in 2026** 44 companies · $1.3B in 2026](https://millionrounds.com/top-lists/oil-gas-startups-canada-raised-2026)[*FS* *DM* *RM* **Oil & Gas startups in Australia** 29 companies · $444M](https://millionrounds.com/top-lists/oil-gas-startups-australia)[*TR* *KP* *SR* **Oil & Gas startups in the United Kingdom** 22 companies · $5.2B](https://millionrounds.com/top-lists/oil-gas-startups-united-kingdom)[*TR* *KM* *GM* **Oil & Gas startups founded in 2018** 15 companies · $4.5B](https://millionrounds.com/top-lists/oil-gas-startups-founded-2018)

## More lists for Toronto

[See all](https://millionrounds.com/top-lists?r=Toronto)

[*C* *H8* *AP* **Startups in Toronto** 622 companies · $22B](https://millionrounds.com/top-lists/startups-toronto)[*DG* *DC* *B* **Healthcare startups in Toronto** 48 companies · $1.2B](https://millionrounds.com/top-lists/healthcare-startups-toronto)[*ST* *BS* *I* **IT Services startups in Toronto** 47 companies · $387M](https://millionrounds.com/top-lists/it-services-startups-toronto)[*DG* *B* *B* **Biotech startups in Toronto** 39 companies · $1.1B](https://millionrounds.com/top-lists/biotech-startups-toronto)[*W* *F* *BF* **Financial Services startups in Toronto** 27 companies · $2.2B](https://millionrounds.com/top-lists/financial-services-startups-toronto)[*D* *NG* *C* **Big Data & Analytics startups in Toronto** 24 companies · $179M](https://millionrounds.com/top-lists/big-data-startups-toronto)[*BS* *F* *G* **Software startups in Toronto** 23 companies · $666M](https://millionrounds.com/top-lists/software-startups-toronto)[*C* *D* *W* **Web3 & Crypto startups in Toronto** 20 companies · $307M](https://millionrounds.com/top-lists/web3-startups-toronto)