Canadian VC pre-seed and seed activity continued to slump in H1 2025
VCs say latest results are “not the end of the world” but anticipate continued slowdown.
Funding
Startup groups urge Ottawa to extend ElevateIP funding
Demand is high but the $90-million program will expire this spring.
FeX Energy raises $4.8 million CAD on bet that iron can power the energy transition
McGill spin-out is piloting iron reactor for renewable energy storage targeting heavy industry.
Schulich Venture Academy has a “bigger vision” for upskilling Canadian tech startups
After teaching 200 graduates across three cohorts, SVA is ready to expand.
Ssense reaches agreement with lenders on restructuring plan
Online retailer to continue under current leadership with $40 million in interim financing.
Amii receives $9 million from feds to equip energy workers with AI skills
Funding comes on top of nearly $20 million pledged last year for sovereign compute.
LocusX raises $3-million seed round to debug game code with AI
Platform aims to improve “fix rate” for developers facing growing demands.
Feds invest $5.8 million to boost BC’s carbon management tech
Natural Resources Canada backs Agora, Anodyne Chemistries, and Svante as BC cements reputation as cleantech hub.
Evolo wants to bring choose-your-own-adventure AI marketing to banking and insurance
Toronto startup raises $3 million USD for generative AI vision.
Former Alberta innovation minister and Athennian co-founder team up to get large infrastructure projects built faster with Ultimarii
Calgary tech startup aims to help companies navigate the regulatory process with AI.
Calgary’s Energy Transition Centre secures $10-million expansion investment
OCIF and PrairiesCan among investors aiming to support training and commercialization.
White Star Capital wants to lead Canadian seed rounds with new $50-million USD fund
The VC firm has closed $25 million USD to back more early-stage Canadian software startups.
FedDev Ontario pledges millions to support Black entrepreneurs
The $2.4 million CAD will support the Black Entrepreneurship Alliance’s incubator programs.
Molecular You secures $6.9 million CAD to scale predictive blood tests across North America
Fresh funding follows US launch of direct-to-consumer platform.
Vistara Growth wants out of “tweener” category as private credit firm gears up to close fifth fund
BC firm has raised $370 million CAD for Fund V amid an increasingly hot venture debt market.