Best HealthTech Companies in Waterloo, Canada
The 38 best HealthTech companies in Waterloo, Canada in 2026, ranked by funding and momentum. Funding, investors, founders, valuation, tech stack and live signals. Top: Intellijoint.
Our analysis of 71 HealthTech companies
$9.5b in tracked funding; 81% of the stack-profiled cohort runs cloud-native; funding activity peaked in 2025.
Ranked: Best HealthTech companies in Waterloo
| # | Company | Disclosed funding | Last round | Employees | Founder | Tech stack | Patents & IP focus | Recent signals |
|---|---|---|---|---|---|---|---|---|
| 1 | Intellijoint Developer of 3D surgical navigation tools for hip and knee replacements 50Growth top 35%Funding top 38%Tech top 50%Talent bottom 49% All 7 signals ▾Growthtop 35% Fundingtop 38% Techtop 50% Talentbottom 49% Marketbottom 48% Moatbottom 38% Globalbottom 36% Growth: Fresh capital in last 24 mo Funding: Raised $11.0M across 4 rounds · 4 rounds over 12 yrs (0.3/yr) rank vs industry peers · Fliar Intelligence Index 50/100 | $11M | 19 mo ago | 125 | Armen Bakirtzian Co-Founder and CEO | WordPressApple iCloud MailGoogle Workspace+27 | — | — |
| 2 | MedStack Cloud based platform for the development of healthcare apps | $6M | 59 mo ago | 26 | Balaji Gopalan Co-Founder and CEO (venture-funded | WordPressApple iCloud MailGoogle Workspace+30 | — | — |
| 3 | Medella Health Contact lenses for continuous and non-invasive monitoring of glucose levels | $1M | 123 mo ago | 3 | — | — | — | — |
| 4 | Brink Bionics Developer of robotic upper-limb replacement technology | $334K | 71 mo ago | 1 | Erik Lloyd Co-Founder & CEO | — | 7 patents Patents concentrated in computing, sensing & instrumentation | — |
| 5 | NURO Developer of non-surgical neurotechnology facilitating communication via thought and intent | $250K | 100 mo ago | 4 | Francois Gand Founder & CEO | — | 9 patents Brain-computer interface technologies for neural control and neurodiagnostic detection | — |
| 6 | Zergo Nanotechnology sensor-based test kits for tracking ovulation and fertility at home | $180K | 86 mo ago | 2 | — | — | — | — |
| 7 | Client Outlook Medical images sharing software | $100K | 148 mo ago | 15 | — | — | 11 patents High‑dynamic‑range image rendering and navigation for low‑bit-depth displays | — |
| 8 | Medlinx Medical Communications software and services | $100K | 149 mo ago | — | Raj Kailasanathan Co-Founder | — | — | — |
Top 12 HealthTech companies in Waterloo
#1
Series A · Waterloo, Ontario · founded 2010 · 125 employees$11Mraised▾
Developer of 3D surgical navigation tools for hip and knee replacements. It offers Intellijoint HIP a mni‑optical navigation system for total hip arthroplasty providing real‑time measurements for cup position, leg length, offset, and rotation, Intellijoint KNEE for total knee arthroplasty offering intraoperative alignment and resection data, and Intellijoint VIEW is a web-based preoperative planning tool for hip and knee replacements.
- Jan 2025Series A$9.7M
- Apr 2017Series A—
- Nov 2016Series A$11M
- Jun 2014Series A—
#2
Seed · Waterloo, Ontario · founded 2015 · 26 employees$5.5Mraised▾
Cloud based platform for the development of healthcare apps. It is a medical standards compliant cloud platform as a service built upon vendor agnostic open source technologies designed to help developers create medical applications easier. It allows members to deploy secure infrastructure including virtual networks, virtual machines, database servers, and object storage.
- Sep 2021Seed$3.1M
- Feb 2019Seed$2.4M
- May 2017Seed—
- Feb 2017Seed—
#3
Seed · Waterloo, Ontario · founded 2013 · 3 employees$1.4Mraised▾
Medella Health is developing a wearable technology solution that monitors glucose levels and helps patients manage their diabetes. It is making contact lenses that continuously and non-invasively monitor glucose levels and transmit the information to a mobile device. From their mobile device, patients can readily share the information with their clinicians, look at diabetes trends, and change their habits.
- Jun 2016Seed$1.4M
- Feb 2016Grant (prize money)$100K
#4
Seed · Waterloo, Ontario · founded 2018 · 1 employees$333.8Kraised▾
Developer of robotic upper-limb replacement technology. It is a technology startup that has developed bionic arms which integrate with the human body to improve hand dexterity. Its flagship technology Axo Hand comes with six degrees of freedom and can be used by adults with below-elbow limb differences. The company claims that the solution leverages machine learning algorithms which allow the wearer to control the prosthesis the same way they would control their natural limbs. The prosthesis uses a patent-pending system called Re-Link that allows the user or clinician to swap out modules in the hand for replacing damaged motors, sensors and mechanical drive components easily and safely.
- Sep 2020Seed$265.5K
- Jun 2018Seed$30K
#5
Seed · Waterloo, Ontario · founded 2017 · 2 employees$180Kraised▾
Nanotechnology sensor-based test kits for tracking ovulation and fertility at home. The company has developed a personalized ovulation monitoring device that quantifies hormone levels. Also, the platform provides updated information on fertility, sexual health & wellness topics for both men and women.
- Jul 2019Seed$150K
- Jun 2018Seed$30K
#6
Seed · Waterloo, Ontario · founded 2017 · 4 employees$250Kraised▾
Developer of non-surgical neurotechnology facilitating communication via thought and intent. The technology supports individuals with communication impairments resulting from neurological conditions. Product lines include software and accessories designed to rebuild and stimulate brain function. The company offers personalized onboarding, technical support, software updates, and video tutorials.
- Apr 2018Seed$250K
- Jun 2017Seed—
#7
Acquired · Waterloo, Ontario · founded 2006 · 15 employees$100Kraised▾
Client Outlook is a healthcare technology company that develops solutions for providers to access information securely at point of care. Solutions include eUnity which displays medical images and reports from a site’s existing image archives and allows providers to manipulate images and collaborate. A mobile version of eUnity called eUnity Mobile is also available for iOS devices.
- Apr 2014Seed—
- Sep 2011Seed$100K
- Mar 2010Seed—
#8
Deadpooled · Waterloo, Ontario · founded 2013$100Kraised▾
Medlinx, a product of Koronis, is a secure social network for Clinicians. The company claims that Doctors, nurses and support staff can communicate, collaborate, and provide better healthcare to patients, without interrupting their workflow. The application is available on Android Playstore, Apple App Store and Amazon apps. The company claims ability to integrate the product with EMRs, Labs/Vital, ADT HL7 feeds.
- Mar 2014Seed$100K
#9
Seed · Waterloo, Ontario · founded 2019$30Kraised▾
Light therapy smart glasses to reduce stress and enhance performance. The company offers pair of glasses that utilize light therapy to help regulate sleep-wake cycles, decrease stress, and enhance performance.
- Apr 2020Seed$30K
#10
Seed · Waterloo, Ontario · founded 2016$30Kraised▾
Elucid Labs is developing an augmented intelligence imaging solution for the early detection and diagnosis of skin cancer. Its solution called AIDA uses proprietary imaging technology that probes the molecular makeup of the skin at different layers and produces a unique fingerprint for the mole/lesion. It has also developed a proprietary AI technology that translates this fingerprint into valuable clinical informatics to assist dermatologists in taking well-informed decisions. The company was named by CIX as one of Canada's top 20 most innovative companies. In 2017, the company has received funding from Spectrum28 venture fund and has also joined Nvidia Inception accelerator program
- Oct 2017Seed$30K
- 2016Grant (prize money)$25K
#11
Deadpooled · Waterloo, Ontario · founded 2015$30Kraised▾
Provider of AI-based psychological and mental health management solution. The product Titan Happiness enables users to write down deep thoughts that are analyzed by the platform through AI technology to provide tools for improving psychological and mental health. The tools and resources are provided through neuroscience, deep positive psychology, and deep physiology.
- Sep 2018Seed$30K
#12
Seed · Waterloo, Ontario · founded 2016 · 4 employees$30Kraised▾
Trevii provides software for tracking medical equipment for hospitals. The software track, trace, and locates portable medical devices eliminating the financial waste that comes with equipment loss and replacement.
- Jun 2018Seed$30K
Funding & investor landscape
Notable founders
Market landscape — 10 sub-themes by coverage
Share of HealthTech coverage by sub-theme.
Regulatory-risk over time flat
Funding & growth over time
funding rising · growth rising
How research on Digital Health in Waterloo is moving
A read on the academic research around Digital Health in Waterloo — which themes are gaining ground, the institutions and researchers driving them, and how the tone is shifting. Based on 57 papers.
- University of Waterloo57
- Regional Municipality of Waterloo2
- Radar2
- Scalability1
- Software deployment1
- Reliability (semiconductor)1
- Convolutional neural network1
- Health care1→4
- Health informatics3→9
- Health care2→5
- Health administration1→3
- Context (archaeology)1→3
Common questions
Rohit lives in the feed. He covers what's moving right now — the funding rounds, launches and shifts breaking across the trade press — and ties them back to where the sector is heading.