Best IoT Applications Companies in Toronto, Canada
The 39 best IoT Applications companies in Toronto, Canada in 2026, ranked by funding and momentum. Funding, investors, founders, valuation, tech stack and live signals. Top: Encycle.
Ranked: Best IoT Applications companies in Toronto
| # | Company | Disclosed funding | Last round | Stage | Founder | Founded | Tech stack | Patents & IP focus | Recent signals |
|---|---|---|---|---|---|---|---|---|---|
| 1 | 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 | 63 mo ago | Series C | Robert Chiste Chairman and CEO | 2005 | — | 18 patents HVAC fault detection and smart thermostat orchestration for energy-efficient building control | 2 job openings |
| 2 | 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 | 26 mo ago | Series B | Brian MacLeod Co-Founder | 2018 | — | — | 1 expansion |
| 3 | Xandar Kardian Provider of radar-based sensors for detecting human presence | $24M | 56 mo ago | Series A | Sung Cho Co-Founder | 2005 | WordPressMySQLPHP+31 | — | — |
| 4 | ThoughtWire Provider of IoT predictive maintenance platform | $22M | 74 mo ago | Series A | Dale Hall Executive VP & Co-Founder | 2009 | — | 32 patents Enterprise software interoperability platform enabling semantic data sharing and unified view generation. | — |
| 5 | 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 | 49 mo ago | Series A | Humera Malik Founder & CEO | 2016 | — | — | — |
| 6 | Ukko Agro Provider of an analytic platform for the agriculture industry | $6M | 56 mo ago | Seed | Avi Bhargava Co-Founder & CTO | 2017 | — | — | — |
| 7 | 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 | 17 mo ago | Seed | Sheida Shahi Co-Founder & CEO | 2022 | WixSentryBootstrap+12 | — | — |
| 8 | 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 | 20 mo ago | Seed | Mostafa Salehi Co-Founder | 2016 | WordPressMySQLRedis+20 | — | 1 launch |
| 9 | 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 | 8 mo ago | Seed | Noaman Makki Co-Founder | 2019 | — | — | — |
| 10 | Daily Blends Provider of automated refrigerator offering chef-curated meals | $2M | 42 mo ago | Seed | Purva Gupta Co-Founder & CTO | 2014 | — | — | — |
| 11 | Aislelabs Personalized retail analytics and marketing | $2M | 149 mo ago | Seed | Garrett Schemmel CEO | 2013 | WordPressMySQLPHP+28 | — | — |
| 12 | SensorSuite Cloud-based building energy management solution | $550K | 106 mo ago | Series A | — | 2012 | — | — | — |
| 13 | Jibestream Indoor mapping and navigation technologies | $500K | 163 mo ago | Acqui-Hired | — | 2009 | — | 3 patents Interactive digital wayfinding and targeted messaging systems for indoor navigation | — |
Top 12 IoT Applications companies in Toronto
#1
Seed · Toronto, Ontario · founded 2019 · 6 employees$3Mraised▾
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.
- Dec 2025Grant (prize money)$1M
- Aug 2025Seed$2M
#2
Seed · Toronto, Ontario · founded 2022 · 19 employees$5.5Mraised▾
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.
- Apr 2025Seed$4M
- Jun 2024Seed$5.5M
- Jan 2023Seed$1.5M
- Sep 2022Seed—
#3
Series B · Toronto, Ontario · founded 2018 · 23 employees$35.7Mraised▾
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.
- Jun 2024Series B$19M
- Oct 2023Conventional Debt$4M
- Oct 2022Series B$8M
- Dec 2020Series A$5M
#4
Seed · Toronto, Ontario · founded 2016 · 22 employees$3.7Mraised▾
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.
- Jan 2025Seed$2.5M
- Dec 2024Seed$1.2M
#5
Series C · Toronto, Ontario · founded 2005 · 30 employees$45.7Mraised▾
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.
- May 2021Series C$7.5M
- Dec 2020Series C$2.2M
- Oct 2018Series C$4.9M
- Dec 2016Series C$11.5M
#6
Series A · Toronto, Ontario · founded 2016 · 41 employees$19.2Mraised▾
Developer of AI platform that transforms scattered information into actionable insights. The platform offers real-time insights, eliminating data hunting for knowledge workers. It provides purpose-built AI assistants for various industries, including manufacturing, healthcare, finance, and government. The platform retrieves, analyzes, and flags discrepancies between systems and documents. It delivers validated information and integrates with existing enterprise ecosystems.
- Aug 2022Series A$7.7M
- Aug 2022Conventional Debt$4.4M
- Apr 2022Grant (prize money)$5.7M
- Oct 2020Series A$6.4M
#7
Series A · Toronto, Ontario · founded 2005 · 36 employees$23.6Mraised▾
Provider of radar-based sensors for detecting human presence. The platform provides a radar system that detects the micro-vibrations created by humans during breathing. The features of the product include vital sign monitoring, fall detection, image processing, privacy protection, security and service optimization, energy-saving, and more.
- Dec 2021Series A$10M
- Dec 2019Seed$3M
- Apr 2018Seed$650K
#8
Series A · Toronto, Ontario · founded 2009 · 64 employees$22Mraised▾
ThoughtWire is the provider of Ambiant IIoT, a platform that provides real-time guidance to users enabling them to predict and resolve issues. It is applied to develop self-optimizing production lines for reducing downtime and preventing machine failures. Applications are in the areas of smart buildings, cities, and hospitals. Clientele and industry partners include Hamilton Health Sciences, IBM, McKesson, Ontario Shores, OXFORD, Plan Group, South Lake, William Osler Health System, Hitachi among others.
- Jun 2020Conventional Debt$8.5M
- Mar 2018Conventional Debt—
- Mar 2018Series A$20M
- Sep 2017Grant (prize money)$955K
#9
Seed · Toronto, Ontario · founded 2017 · 18 employees$6.5Mraised▾
Provider of an analytic platform for the agriculture industry. The platform provides weather, soil, and crop data from fields for crop input applications. The offering of the product includes crop growth, irrigation, disease risk for plants, and also a few upcoming offerings include nutrient deficiency, yield forecasting, and insect detection.
- Dec 2021Seed$4M
#10
Seed · Toronto, Ontario · founded 2014 · 15 employees$2Mraised▾
Provider of automated refrigerators offering chef-curated meals. Customers can browse the menu, grab a meal, and make contactless payments on their smartphones. The company's service provides meals such as salads, bowls, and snacks. The company offers an application to find a fridge nearby to order blends and pick up meals or snacks.
- Mar 2023Seed$2M
#11
Seed · Toronto, Ontario · founded 2013 · 43 employees$1.5Mraised▾
Aislelabs is a technology company assisting retailers to increase sales through the use of big data analytics. Uses a combination of GPS, Wi-Fi, and Beacons to gather precise in-store consumer data. Aislelabs uses machine learning to power two platforms for retailers, AislelabsFlow and AislelabsEngage. Flow delivers retailers insight on shopper behavior, while Engage delivers real-time messages and emails to customers, personalized based on observed data. Has announced integration with Gimbals Location and Proximity Engagement Platform. The Dubai Mall, Toronto Pearson, Cadillac Fairview, Oxford, Al-Futtaim, Aroma, etc are few of the customers.
- Mar 2014Seed$1.5M
#12
Public · Toronto, Ontario · founded 2014 · 42 employees$17.4Kraised▾
Provider of IoT-based water monitoring and leak detection systems. It is a provider of leak protection and water conservation solutions for residential and commercial applications. Its portfolio comprises a smart water meter that can be installed directly on the water main for providing users with real-time readings of water consumption, leak detection, and remotely shuts off the flow of water into the property to prevent damages. Its water sensor can be placed at every water source in the home for notifying in case of detecting any flow. It provides a retrofittable non-intrusive technology, essentially a LoRa enabled electronic component, which when combined with a water valve enables remote and automatic shutoff of the same. These products interface with a companion application that allows the user to monitor water usage, track changes, remotely shut off the water and make informed decisions to help protect and conserve the same.
- Jun 2024Post IPO$17.4K
Funding & investor landscape
Notable founders
Market landscape — 10 sub-themes by coverage
Share of IoT Applications coverage by sub-theme.
Regulatory-risk over time rising
Funding & growth over time
funding rising · growth rising
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.