Radar · Internet of Things - Industry Applications in Toronto
Best Internet of Things - Industry Applications Companies in Toronto, Canada
The 128 best Internet of Things - Industry Applications companies in Toronto, Canada in 2026, ranked by funding and momentum. Funding, investors, founders, valuation, tech stack and live signals. Top: ecobee.
By Rohit KhannaTrends & Stories
128companies tracked
$660.9Mdisclosed funding
0unicorns
49have raised
FLIAR INTELLIGENCE · INTERNET OF THINGS - INDUSTRY APPLICATIONS × TORONTO
Our analysis of 184 Internet of Things - Industry Applications companies
$13.9b in tracked funding; 91% of the stack-profiled cohort runs cloud-native; funding activity peaked in 2025.
184companies analysed
91%cloud-native stacks
2025funding peak (by rounds)
11unicorns
2016median founding year
169kcombined LinkedIn audience
51%of audience held by top 3
2companies hiring publicly (12 mo)
Ranked: Best Internet of Things - Industry Applications companies in Toronto
| # | Company | Disclosed funding | Last round | Employees | Founder | Tech stack | Web popularity | Patents & IP focus | Recent signals |
|---|---|---|---|---|---|---|---|---|---|
| 1 | ecobee Manufacturer of smart thermostats, sensors, cameras, and security system bundles 78AI top 15%Customers top 19%Tech top 23%Patents top 33% All 13 signals ▾AItop 15% Customerstop 19% Techtop 23% Patentstop 33% Fundingtop 34% Producttop 36% Markettop 37% Moattop 38% Talenttop 38% Innovationtop 42% Growthbottom 48% Globalbottom 42% Newsbottom 24% AI: Holds AI/ML patents (G06N-family CPC) Customers: Play-Store rating 4.30★ across 39,875 ratings (2 apps) · Review volume +45% in 6 mo rank vs industry peers · Fliar Intelligence Index 78/100 | $155M | 96 mo ago | 520 | Oksana Lvova Ceo | Amazon WebstoreContentfulApple iCloud Mail+37 | Top 500k | 82 patents Residential smart energy management and integrated home automation (thermostats, lighting, cameras). | — |
| 2 | Untether AI Developer of hardware and software for artificial intelligence inference acceleration | $152M | 59 mo ago | 122 | Chris Walker CEO & President | WordPressMySQLPHP+21 | Top 10M | 78 patents High‑performance computational memory and dataflow architectures for AI acceleration | — |
| 3 | Encycle Provider of wireless energy management solutions 24Funding top 35%Moat top 37%Product top 40%Patents top 49% All 10 signals ▾Fundingtop 35% Moattop 37% Producttop 40% Patentstop 49% Talentbottom 49% Innovationbottom 43% Globalbottom 43% Marketbottom 37% Techbottom 25% Newsbottom 22% Funding: Raised $45.7M across 8 rounds · 8 rounds over 15 yrs (0.5/yr) Moat: Editorial + unicorn rating 7/10 · IP moat: 18 patents rank vs industry peers · Fliar Intelligence Index 24/100 | $46M | 61 mo ago | 30 | Robert Chiste Chairman and CEO | — | — | 18 patents Intelligent HVAC control and fault detection via smart thermostat orchestration | 2 job openings |
| 4 | Muse Provider of brainwave tracking devices and related premium subscription services 62Funding top 26%Tech top 30%Growth top 35%Innovation top 38% All 10 signals ▾Fundingtop 26% Techtop 30% Growthtop 35% Innovationtop 38% Producttop 39% Moattop 39% Customerstop 50% Talentbottom 49% Marketbottom 46% Globalbottom 38% Funding: Raised $41.0M across 11 rounds · 11 rounds over 14 yrs (0.8/yr) Tech: 54 technologies across 5/8 capability areas · Cloud: Cloudflare, Google Cloud rank vs industry peers · Fliar Intelligence Index 62/100 | $41M | 16 mo ago | 62 | Jean Fournier CEO | ShopifyBootstrapRevy+35 | Top 5M | — | 1 award |
| 5 | BIONIK Provider of assistive and rehabilitation hardware and software solutions | $40M | 108 mo ago | 12 | Michal Prywata Co-Founder | — | — | — | — |
| 6 | Parity Platform for reducing energy consumption 48Product top 30%Funding top 32%Innovation top 34%Talent top 38% All 9 signals ▾Producttop 30% Fundingtop 32% Innovationtop 34% Talenttop 38% Moattop 39% Techbottom 45% Marketbottom 36% Globalbottom 36% Newsbottom 21% Product: 6 distinct product lines · Company stage: Series B Funding: Raised $35.7M across 6 rounds · 6 rounds over 7 yrs (0.9/yr) rank vs industry peers · Fliar Intelligence Index 48/100 | $36M | 24 mo ago | 23 | Brian MacLeod Co-Founder | — | — | — | 1 expansion |
| 7 | Nymi Developer of wearable multi-factor authentication solution for passwordless access and security | $30M | 96 mo ago | 43 | — | Wix eCommerceWixSentry+22 | Top 50M | 52 patents Wearable biometric authentication and motion‑based user activity monitoring for secure access | 1 partnership |
| 8 | Xandar Kardian Provider of radar-based sensors for detecting human presence | $24M | 54 mo ago | 36 | Sung Cho Co-Founder | WordPressMySQLPHP+31 | Top 10M | — | — |
| 9 | ThoughtWire Provider of IoT predictive maintenance platform | $22M | 72 mo ago | 64 | Dale Hall Executive VP & Co-Founder | — | — | 32 patents Semantic data integration and sharing platform for enterprise software systems | — |
| 10 | Canvass Developer of AI platform that transforms scattered information into actionable insights 53AI top 20%Innovation top 23%Funding top 37%Product top 43% All 9 signals ▾AItop 20% Innovationtop 23% Fundingtop 37% Producttop 43% Talentbottom 49% Marketbottom 40% Globalbottom 37% Newsbottom 32% Techbottom 15% AI: Classified as an AI company Innovation: 9 product lines · Deep-tech classification: Artificial Intelligence rank vs industry peers · Fliar Intelligence Index 53/100 | $19M | 46 mo ago | 41 | Humera Malik Founder & CEO | — | — | — | — |
| 11 | Base Two Developer of an AI platform for manufacturing process optimization and control 60AI top 20%Talent top 28%Funding top 34%Growth top 35% All 9 signals ▾AItop 20% Talenttop 28% Fundingtop 34% Growthtop 35% Moattop 39% Techtop 46% Globalbottom 39% Marketbottom 29% Newsbottom 18% AI: Classified as an AI company Talent: 4 named leaders on record · 4 C-suite/founder profiles curated rank vs industry peers · Fliar Intelligence Index 60/100 | $17M | 20 mo ago | 20 | Tawfeeq Gaffoor Co-Founder & CTO | WebflowApple iCloud MailGoogle Workspace+25 | Top 10M | — | 1 partnership |
| 12 | Brickeye Provider of construction risk mitigation platform integrating IoT and data analytics 37Funding top 33%Talent top 38%Product top 42%Moat bottom 45% All 6 signals ▾Fundingtop 33% Talenttop 38% Producttop 42% Moatbottom 45% Marketbottom 40% Globalbottom 36% Funding: Raised $10.0M across 2 rounds · 2 rounds over 3 yrs (0.7/yr) Talent: 2 named leaders on record · 2 C-suite/founder profiles curated rank vs industry peers · Fliar Intelligence Index 37/100 | $10M | 5 mo ago | — | Anthony Fernando Co-Founder | — | — | — | — |
| 13 | Ukko Agro Provider of an analytic platform for the agriculture industry | $6M | 54 mo ago | 18 | Avi Bhargava Co-Founder & CTO | — | — | — | — |
| 14 | Deeplite Online platform for software testing and optimization | $6M | 62 mo ago | 30 | — | HubSpot CMS HubAmazon Web ServicesSplide+13 | Top 50M | 31 patents Low-bit quantization and compression techniques for neural network computer vision models. | — |
| 15 | Upchain Product life cycle management solutions for manufacturers | $6M | 99 mo ago | 135 | John Laslavic Founder & CEO | — | — | — | — |
| 16 | Adaptis Provider of AI-powered platform for capital planning and asset decarbonization 32Talent top 38%AI top 45%Tech top 50%Funding bottom 49% All 7 signals ▾Talenttop 38% AItop 45% Techtop 50% Fundingbottom 49% Globalbottom 36% Marketbottom 28% Newsbottom 21% Talent: 2 named leaders on record · 2 C-suite/founder profiles curated AI: Product described with: ai-powered rank vs industry peers · Fliar Intelligence Index 32/100 | $5M | 14 mo ago | 19 | Sheida Shahi Co-Founder & CEO | WixSentryBootstrap+12 | Top 10M | — | — |
| 17 | Synex Medical Developer of non-invasive health monitoring technology using magnetic resonance spectroscopy | $5M | 67 mo ago | 24 | Ben Nashman Founder & CEO | Apple iCloud MailGoogle WorkspaceSalesforce+11 | Top 10M | 30 patents Patents concentrated in health & consumer products | — |
| 18 | AI ML Innovations Provider of an AI and SaaS-based digital health monitoring platform and device for healthcare providers 42Patents top 19%Innovation top 22%AI top 30%Moat top 32% All 12 signals ▾Patentstop 19% Innovationtop 22% AItop 30% Moattop 32% Producttop 35% Fundingtop 37% Partnerstop 37% Newstop 43% Growthtop 45% Globalbottom 37% Techbottom 24% Marketbottom 18% Patents: 48 patents matched (strict assignee match) · 12 filings since 2022 vs 7 in 2017-21 Innovation: 48 patents (top 22% of patent-holders) · 12 filings since 2022 vs 7 in 2017-21 rank vs industry peers · Fliar Intelligence Index 42/100 | $4M | 14 mo ago | 3 | — | WordPressMySQLPHP+10 | Top 50M | 48 patents Patents concentrated in electrical & electronics | — |
| 19 | Pontosense Developer of sensor and AI technology for risk and wellness detection 42Patents top 32%Innovation top 34%Moat top 38%Talent top 38% All 8 signals ▾Patentstop 32% Innovationtop 34% Moattop 38% Talenttop 38% Productbottom 48% Fundingbottom 47% Marketbottom 37% Globalbottom 36% Patents: 17 patents matched (strict assignee match) · 17 filings since 2022 vs 0 in 2017-21 Innovation: 17 patents (top 57% of patent-holders) · 17 filings since 2022 vs 0 in 2017-21 rank vs industry peers · Fliar Intelligence Index 42/100 | $4M | 13 mo ago | — | Yihong Qi Co-Founder | CTO | — | — | 17 patents RF front‑end components: millimeter‑wave antennas, circularly polarized structures, and filter circuits. | 1 launch · 1 partnership |
| 20 | eSight Provider of wearable glasses to help people with low vision to see | $4M | 84 mo ago | 51 | — | WordPressMySQLPHP+31 | Top 5M | 118 patents Advanced wearable near‑eye optics and vision‑augmentation systems for AR/VR displays | 3 launchs |
| 21 | CardioComm Solutions Provides software for electrocardiogram (“ECG”) management and reporting software | $4M | 144 mo ago | 23 | Etienne Grima CEO | Cart FunctionalityWooCommerceWordPress+15 | Top 50M | 2 patents Unlocking and managing OTC biosignal recording devices for health monitoring | — |
| 22 | Edgecom Energy AI-powered energy management software 27Talent top 38%AI top 45%Funding bottom 49%Tech bottom 37% All 6 signals ▾Talenttop 38% AItop 45% Fundingbottom 49% Techbottom 37% Globalbottom 37% Marketbottom 27% Talent: 2 named leaders on record · 2 C-suite/founder profiles curated AI: Product described with: ai-powered rank vs industry peers · Fliar Intelligence Index 27/100 | $4M | 17 mo ago | 22 | Mostafa Salehi Co-Founder | WordPressMySQLRedis+20 | Top 10M | — | 1 launch |
| 23 | Assetflo Provider of cloud-integrated asset viewing platforms 9Talent top 45%Funding top 48%Global bottom 29%Market bottom 12% All 4 signals ▾Talenttop 45% Fundingtop 48% Globalbottom 29% Marketbottom 12% Talent: 2 named leaders on record Funding: Raised $3.0M across 2 rounds · 2 rounds over 1 yrs (2.0/yr) rank vs industry peers · Fliar Intelligence Index 9/100 | $3M | 6 mo ago | 6 | Noaman Makki Co-Founder | — | — | — | — |
| 24 | Nanoleaf Energy efficient lightbulbs | $3M | 123 mo ago | 95 | Tom Rodinger Chief Technology Officer and Cofounder | Cart FunctionalityShopifyRoute+33 | Top 500k | — | — |
| 25 | Kiwi Wearable Technologies Motion Recognition Software | $2M | 129 mo ago | — | Ali Nawab Co-Founder & CEO | — | — | — | — |
| 26 | AioCare Developer of cloud-based SaaS solutions for care coordination and remote patient monitoring | $2M | 178 mo ago | 10 | Michael Gross CEO & Chairman | — | — | — | — |
| 27 | Daily Blends Provider of automated refrigerator offering chef-curated meals | $2M | 39 mo ago | 15 | Purva Gupta Co-Founder & CTO | — | — | — | — |
| 28 | Verto Health Provider of AI-based digital twin platform for population health management | $2M | 69 mo ago | 44 | Michael Millar CEO | — | — | — | — |
| 29 | Aislelabs Personalized retail analytics and marketing | $2M | 147 mo ago | 43 | Garrett Schemmel CEO | WordPressMySQLPHP+28 | Top 500k | — | — |
| 30 | RainStick Provider of smart recirculating showers | $1M | 58 mo ago | 10 | Sean McFetridge Co-Founder | Cart FunctionalityShopifySentry+30 | Top 5M | — | — |
| 31 | The Ubi Voice enabled, WiFi connected computer assistant | $635K | 147 mo ago | — | Leor Grebler Founder | — | — | — | — |
| 32 | SensorSuite Cloud-based building energy management solution | $550K | 103 mo ago | 13 | — | — | — | — | — |
| 33 | Hearshot Voice communication device for water sports | $550K | 123 mo ago | — | Sebastian Koper Co-Founder | — | — | 3 patents Wireless communication integration into helmets for high‑motion activities | — |
| 34 | Jibestream Indoor mapping and navigation technologies | $500K | 160 mo ago | 10 | — | — | — | 3 patents Indoor wayfinding and targeted digital signage systems | — |
| 35 | Smart Nora Developer of a smart device to control snoring | $250K | 31 mo ago | — | Behzad Hariri Co-founder | ShopifyZohoShop Pay+40 | Top 5M | — | — |
| 36 | iMerciv Assistive wearable technology for visually impaired | $150K | 80 mo ago | 2 | Bin Liu Co-Founder & CEO | — | — | 5 patents Object detection hardware and methods for image/video analysis | — |
| 37 | HelpWear Wearable device for cardiac monitoring | $120K | 108 mo ago | 19 | — | — | — | 12 patents Wearable dry‑electrode ECG monitoring devices for single‑arm cardiac sensing | — |
Top 12 Internet of Things - Industry Applications companies in Toronto
#1
Acquired · Toronto, Ontario · founded 2013$10Mraised▾
Acquired · Toronto, Ontario · founded 2013
Provider of construction risk mitigation platform integrating IoT and data analytics. The platform offers real-time monitoring, alerts, and analytics for construction projects. It focuses on mitigating water damage, monitoring concrete, and managing environmental risks. The platform serves general contractors, owners, developers, and insurance providers with risk mitigation solutions.
Fliar Intelligence Index™ 37how this company ranks against its industry peers
Funding
top 33%Talent
top 38%Product
top 42%Moat
bottom 45%Market
bottom 40%Global
bottom 36%Funding: Raised $10.0M across 2 rounds · 2 rounds over 3 yrs (0.7/yr) · Last round Series B (Jan 2026)
Talent: 2 named leaders on record · 2 C-suite/founder profiles curated
Product: 1 published app (91 installs) · Company stage: Acquired
Audience (LinkedIn): 4k LinkedIn followers — 2.2% of this cohort's audience
Funding rounds
- Jan 2026Series B$10M
- Oct 2023Series A$10M
Founders & team
Investors
BDC, Graphite Ventures, GreenSky, Brightspark Ventures, Export Development Canada, MaRS IAF
#2
Series C · Toronto, Ontario · founded 2007 · 62 employees$41Mraised▾
Series C · Toronto, Ontario · founded 2007 · 62 employees
Provider of brainwave tracking devices and related premium subscription services. The company offers devices that measure brain activity, heart rate, breath, and body movement. Data is tracked via application to improve focus, reduce stress, and enhance self-awareness. The devices use sensors to detect brain activity and provide biofeedback to optimize mental performance.
Fliar Intelligence Index™ 62how this company ranks against its industry peers
Funding
top 26%Tech
top 30%Growth
top 35%Innovation
top 38%Product
top 39%Moat
top 39%Funding: Raised $41.0M across 11 rounds · 11 rounds over 14 yrs (0.8/yr) · Last round Series C (Feb 2025)
Tech: 54 technologies across 5/8 capability areas · Cloud: Cloudflare, Google Cloud · Observability: Sentry
Growth: Fresh capital in last 24 mo
Audience (LinkedIn): 12k LinkedIn followers — 7.3% of this cohort's audience
Activity (LinkedIn): 1 awards announced in 12 mo
Funding rounds
- Feb 2025Series C$173.3K
- Nov 2024Series C$201.6K
- Aug 2022Series C$9.5M
- Jan 2018Series B$1.3M
Founders & team
Investors
ff Venture Capital, BDC, Export Development Canada, Phyto Partners, Iter Investments, CHOC
Tech stack
Apple PayBootstrapChargebeeClevertapCloudflareConvert
#3
Seed · Toronto, Ontario · founded 2019 · 6 employees$3Mraised▾
Seed · Toronto, Ontario · founded 2019 · 6 employees
Provider of cloud-integrated asset viewing platforms. Its products include single-sensor fusion tags, edge computing devices, and a real-time 3D viewing platform for assets with actionable metric dashboards for use cases like utilization, efficiencies, and safety. It caters to applications industries like warehousing, manufacturing, oil and gas, aviation, and parking.
Fliar Intelligence Index™ 9how this company ranks against its industry peers
Talent
top 45%Funding
top 48%Global
bottom 29%Market
bottom 12%Talent: 2 named leaders on record
Funding: Raised $3.0M across 2 rounds · 2 rounds over 1 yrs (2.0/yr) · Last round Grant (prize money) (Dec 2025)
Global: Single-market focus (Canada)
Audience (LinkedIn): 403 LinkedIn followers
Funding rounds
- Dec 2025Grant (prize money)$1M
- Aug 2025Seed$2M
Founders & team
Investors
GreenSky, Geotab, DMZ Ventures
#4
Public · Toronto, Ontario · founded 2020 · 3 employees$4.4Mraised▾
Public · Toronto, Ontario · founded 2020 · 3 employees
Provider of an AI and SaaS-based digital health monitoring platform and device for healthcare providers. The company has developed a Health Gauge which assists professionals to monitor patients' health remotely with the help of AI-based technology. The tool has the ability to capture body vitals such as blood pressure, heart rate & HR variability, pulse wave velocity, and more. The AI used in the product can interpret health data on a real-time basis.
Fliar Intelligence Index™ 42how this company ranks against its industry peers
Patents
top 19%Innovation
top 22%AI
top 30%Moat
top 32%Product
top 35%Funding
top 37%Patents: 48 patents matched (strict assignee match) · 12 filings since 2022 vs 7 in 2017-21 · Latest publication 2025
Innovation: 48 patents (top 22% of patent-holders) · 12 filings since 2022 vs 7 in 2017-21 · Deep-tech classification: Artificial Intelligence, Tech Hardware
AI: Classified as an AI company · Product described with: ai-based
Funding rounds
- Apr 2025Post IPO$1.5M
- Dec 2024Post IPO$17.1K
- Nov 2024Post IPO$1.1M
- Jun 2024Post IPO$373.8K
#5
Seed · Toronto, Ontario · founded 2022 · 19 employees$5.5Mraised▾
Seed · Toronto, Ontario · founded 2022 · 19 employees
Provider of AI-powered platform for capital planning and asset decarbonization. The platform uses predictive analytics and real building data to guide capital planning decisions. It aligns decarbonization goals with financial realities across design, retrofit, and development. The platform offers portfolio-wide insights to uncover risks and opportunities. It provides a step-by-step plan, mapping out when to invest in capital projects.
Fliar Intelligence Index™ 32how this company ranks against its industry peers
Talent
top 38%AI
top 45%Tech
top 50%Funding
bottom 49%Global
bottom 36%Market
bottom 28%Talent: 2 named leaders on record · 2 C-suite/founder profiles curated
AI: Product described with: ai-powered
Tech: 15 technologies across 5/8 capability areas · Cloud: Google Cloud, Google Cloud Cdn · Observability: Sentry
Audience (LinkedIn): 4k LinkedIn followers — 2.6% of this cohort's audience
Activity (LinkedIn): 1 awards announced in 12 mo
Funding rounds
- Apr 2025Seed$4M
- Jun 2024Seed$5.5M
- Jan 2023Seed$1.5M
- Sep 2022Seed—
Founders & team
Investors
Accelerator Centre, Building Ventures, MetaProp, 2048 Ventures, Blue Vision Capital, Powerhouse
#6
Series A · Toronto, Ontario · founded 2021$4.4Mraised▾
Series A · Toronto, Ontario · founded 2021
Developer of sensor and AI technology for risk and wellness detection. It offers a single sensor for installation in homes to detect falls. The sensor also monitors inactivity and changes in daily routines. The technology supports families and professional care teams with insight and alerts. It respects privacy by using no cameras, microphones, or wearables.
Fliar Intelligence Index™ 42how this company ranks against its industry peers
Patents
top 32%Innovation
top 34%Moat
top 38%Talent
top 38%Product
bottom 48%Funding
bottom 47%Patents: 17 patents matched (strict assignee match) · 17 filings since 2022 vs 0 in 2017-21 · Latest publication 2026
Innovation: 17 patents (top 57% of patent-holders) · 17 filings since 2022 vs 0 in 2017-21 · Deep-tech classification: Tech Hardware
Moat: Editorial + unicorn rating 4/10 · IP moat: 17 patents
Audience (LinkedIn): 8k LinkedIn followers — 4.6% of this cohort's audience
Activity (LinkedIn): 1 product launches · 1 partnerships (incl. Sourcewell) announced in 12 mo
Funding rounds
- Apr 2025Series A$4.4M
Founders & team
Investors
ventureLAB
#7
Series A · Toronto, Ontario · founded 2022 · 20 employees$17.2Mraised▾
Series A · Toronto, Ontario · founded 2022 · 20 employees
Developer of an AI platform for manufacturing process optimization and control. The platform provides tools for connecting plant and lab databases, preparing data, and building digital twins. It offers recommendations to accelerate scale-up and optimize process quality control. The platform supports process engineers and modelers in streamlining operations and enhancing workflow efficiency.
Fliar Intelligence Index™ 60how this company ranks against its industry peers
AI
top 20%Talent
top 28%Funding
top 34%Growth
top 35%Moat
top 39%Tech
top 46%AI: Classified as an AI company
Talent: 4 named leaders on record · 4 C-suite/founder profiles curated
Funding: Raised $17.2M across 2 rounds · 2 rounds over 4 yrs (0.5/yr) · Last round Series A (Sep 2024)
Audience (LinkedIn): 12k LinkedIn followers — 7.0% of this cohort's audience
Activity (LinkedIn): 1 partnerships (incl. RoviSys Asia) announced in 12 mo
Funding rounds
- Sep 2024Series A$13.4M
- May 2022Seed$3.8M
Founders & team
Investors
Glasswing Ventures, Caffeinated Capital, Graphite Ventures, MaRS IAF, Pareto, Plug and Play Tech Center
Tech stack
CdnjsCloudflareCloudflare Bot ManagementCore-JsGoogle AnalyticsGoogle Tag Manager
#8
Series B · Toronto, Ontario · founded 2018 · 23 employees$35.7Mraised▾
Series B · Toronto, Ontario · founded 2018 · 23 employees
Platform for reducing energy consumption. It monitors the consumption of gas and electricity by connecting to the building via the cloud and optimizes the mechanical systems. It provides real-time energy data and allows tracking of monthly savings through energy reports.
Fliar Intelligence Index™ 48how this company ranks against its industry peers
Product
top 30%Funding
top 32%Innovation
top 34%Talent
top 38%Moat
top 39%Tech
bottom 45%Product: 6 distinct product lines · Company stage: Series B
Funding: Raised $35.7M across 6 rounds · 6 rounds over 7 yrs (0.9/yr) · Last round Series B (Jun 2024)
Innovation: 6 product lines
Audience (LinkedIn): 8k LinkedIn followers — 4.7% of this cohort's audience
Activity (LinkedIn): 1 expansions announced in 12 mo
Funding rounds
- Jun 2024Series B$19M
- Oct 2023Conventional Debt$4M
- Oct 2022Series B$8M
- Dec 2020Series A$5M
Founders & team
Investors
RET Ventures, Wyse, New York State, ArcTern Ventures, SVB, Idealist Capital
Tech stack
Master SliderWordpressMysqlPhpBootstrapAnimate.Css
#9
Seed · Toronto, Ontario · founded 2016 · 22 employees$3.7Mraised▾
Seed · Toronto, Ontario · founded 2016 · 22 employees
AI-powered energy management software. It provides AI-powered energy management software solutions to large energy consumers, enabling them to reduce energy costs and emissions through predictive analytics and IoT-based monitoring.
Fliar Intelligence Index™ 27how this company ranks against its industry peers
Talent
top 38%AI
top 45%Funding
bottom 49%Tech
bottom 37%Global
bottom 37%Market
bottom 27%Talent: 2 named leaders on record · 2 C-suite/founder profiles curated
AI: Product described with: ai-powered
Funding: Raised $3.7M across 2 rounds · 2 rounds over 2 yrs (1.0/yr) · Last round Seed (Jan 2025)
Audience (LinkedIn): 5k LinkedIn followers — 2.9% of this cohort's audience
Activity (LinkedIn): 1 product launches announced in 12 mo
Funding rounds
- Jan 2025Seed$2.5M
- Dec 2024Seed$1.2M
Founders & team
Investors
ABB, GreenSky
Tech stack
Apache Http ServerDebianElementorGoogle CloudGoogle Cloud CdnGoogle Workspace
#10
Acqui-Hired · Toronto, Ontario · founded 2018 · 122 employees$152Mraised▾
Acqui-Hired · Toronto, Ontario · founded 2018 · 122 employees
Developer of hardware and software for artificial intelligence inference acceleration. The company provided integrated circuits designed for faster throughput and greater energy efficiency. Its architecture moved the compute element directly adjacent to memory cells. The company’s products supported model imports from standard frameworks.
Funding rounds
- Jul 2021Series B$125M
- Jul 2020Series A$7M
- Nov 2019Series A$7M
- Apr 2019Series A$13M
Founders & team
Investors
Radical Ventures, Intel Capital, CPP Investments, Tracker Capital Management
#11
Acquired · Toronto, Ontario · founded 2007 · 520 employees$155Mraised▾
Acquired · Toronto, Ontario · founded 2007 · 520 employees
Manufacturer of smart thermostats, sensors, cameras, and security system bundles. The company provides smart thermostats with accessories, air filter subscriptions, and power extender kits. It offers smart sensors for rooms, doors, and windows. The company also manufactures wired smart doorbell cameras and smart cameras with voice control. In addition, the business provides home security bundles and smart security subscriptions.
Fliar Intelligence Index™ 78how this company ranks against its industry peers
AI
top 15%Customers
top 19%Tech
top 23%Patents
top 33%Funding
top 34%Product
top 36%AI: Holds AI/ML patents (G06N-family CPC)
Customers: Play-Store rating 4.30★ across 39,875 ratings (2 apps) · Review volume +45% in 6 mo · Marquee-customer mentions: top 30% of tracked companies
Tech: 63 technologies across 6/8 capability areas · Cloud: Amazon Ses, Amazon Web Services · Devops: Envoy, Nginx
Audience (LinkedIn): 38k LinkedIn followers — 22.4% of this cohort's audience
Hiring (LinkedIn): 1 hiring post in 12 mo (public) · hiring: Staff Product Manager - Energy Devices, Lead Marketing Manager
Funding rounds
- May 2018Series C$36.3M
- Mar 2018Series C$61M
- Dec 2016Series C$267K
- Aug 2016Series C$35M
Founders & team
Investors
Relay Ventures, Energy Impact Partners, Thomvest Ventures, Northleaf, Export Development Canada, AGL
Tech stack
AffirmAmplitudeApple Icloud MailAuraBootstrapCloudflare
#12
Series C · Toronto, Ontario · founded 2005 · 30 employees$45.7Mraised▾
Series C · Toronto, Ontario · founded 2005 · 30 employees
Provider of wireless energy management solutions. It offers enviro grid swarm logic controllers that are attached to electrical loads like air conditioning, heaters, compressors, pumps, humidifiers, dehumidifiers, to communicate and coordinate with each other and to reduce electrical demand for commercial, industrial, institutional, and multi-unit residential facilities.
Fliar Intelligence Index™ 24how this company ranks against its industry peers
Funding
top 35%Moat
top 37%Product
top 40%Patents
top 49%Talent
bottom 49%Innovation
bottom 43%Funding: Raised $45.7M across 8 rounds · 8 rounds over 15 yrs (0.5/yr) · Last round Series C (May 2021)
Moat: Editorial + unicorn rating 7/10 · IP moat: 18 patents · 10 curated direct competitors tracked
Product: 1 published app (80 installs) · Company stage: Series C
Audience (LinkedIn): 4k LinkedIn followers — 2.2% of this cohort's audience
Hiring (LinkedIn): 2 hiring posts in 12 mo (public) · momentum +2 · hiring: Sales Engineer, National Account Director
Funding rounds
- May 2021Series C$7.5M
- Dec 2020Series C$2.2M
- Oct 2018Series C$4.9M
- Dec 2016Series C$11.5M
Founders & team
Investors
BDC, Takeda Ventures, Accel-Rx, NGEN Partners, EnerTech Capital, Export Development Canada
Tech stack
UbuntuApache Http ServerHstsDigicert
Funding & investor landscape
$660.9Mtotal disclosed funding
43companies funded
114disclosed rounds
0rounds last 90 days
Most active investors
Export Development Canada7 rounds
Notable founders
Anthony Fernando
Co-Founder · Brickeye
Richard Liang
Co-Founder & CTO · Brickeye
Jean Fournier
CEO · Muse
Noaman Makki
Co-Founder · Assetflo
Elie Makhoul
Co-Founder · Assetflo
Sheida Shahi
Co-Founder & CEO · Adaptis
Aida Mollaei
Co-Founder · Adaptis
Yihong Qi
Co-Founder | CTO · Pontosense
Jianhua Ma
Co-Founder · Pontosense
Tawfeeq Gaffoor
Co-Founder & CTO · Base Two
Thamjeeth Gaffoor
Chief Operating Officer & Co-founder · Base Two
Brian MacLeod
Co-Founder · Parity
Prism market signals · Canada · country-scoped Prism corpus, 8,538,689 docs
Market landscape — 10 sub-themes by coverage
Share of Internet of Things - Industry Applications coverage by sub-theme.
Regulatory-risk over time rising
Funding & growth over time
funding rising · growth rising
RESEARCH FROM Toronto · institutions
What Toronto researches in iot
Toronto Metropolitan University and University of Toronto lead IoT research focused on edge computing, smart grid security, and privacy-preserving technologies, with a cautiously optimistic tone amid growing security concerns.
37 papersstance +0.4140% breakthrough31% concern
local research themes
IoT and Edge/Fog ComputingSmart Grid Security and ResiliencePrivacy-Preserving Technologies in DataNetwork Security and Intrusion DetectionIndoor and Outdoor Localization TechnologiesEnergy Efficient Wireless Sensor Networks
top institutions
- Toronto Metropolitan University22
- University of Toronto15
Common questions
How many Internet of Things - Industry Applications companies are there in Toronto, Canada?
Radar tracks 128 indexable Internet of Things - Industry Applications companies headquartered in Toronto, Canada that meet our profile-completeness bar.
What is the total funding raised by Internet of Things - Industry Applications companies in Toronto, Canada?
The Internet of Things - Industry Applications companies in Toronto, Canada on this list have raised a combined $660.9M in disclosed equity funding across 43 funded companies.
Which is the highest-funded Internet of Things - Industry Applications company in Toronto, Canada?
ecobee is the highest-funded Internet of Things - Industry Applications company in Toronto, Canada, with $155M in disclosed equity funding.
How many Internet of Things - Industry Applications companies in Toronto, Canada are funded?
43 of the 128 Internet of Things - Industry Applications companies in Toronto, Canada on this list have disclosed at least one equity funding round.
How many Internet of Things - Industry Applications unicorns are there in Toronto, Canada?
None of the Internet of Things - Industry Applications companies in Toronto, Canada on this list currently has a disclosed valuation of $1B or more.
Who are the top investors in Toronto, Canada Internet of Things - Industry Applications companies?
The most active investors in Toronto, Canada Internet of Things - Industry Applications companies on this list include MaRS Discovery District, BDC, MaRS IAF, Export Development Canada, The DMZ.
Rohit KhannaTrends & Stories
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.