DMZ Startups Achieve Inspiring Milestone of $1 Billion in Collective Funding

Eleven years after its inception, Toronto incubator DMZ has reached an incredible milestone. The Ryerson-based non-profit incubator has a portfolio of current and alumni companies that have raised over $1 billion in funding. The $1 billion of funding is the cumulative total of 424 investments in 194 DMZ startups and alumni since 2011. DMZ’s top five most-funded startups (Borrowell, Snapcommerce, Sensibill, Ada Support and Flybits) account for more than half of that $1 billion.
DMZ reaches and surpasses this milestone with strong momentum. DMZ companies raised over $185 million in 2020 alone, and Abdullah Snobar, DMZ’s executive director, said that most of the $1 billion in funding has come within the last five years. Recently, Snapcommerce secured the largest single funding round ever for a DMZ company, raising $107 million. Investments in DMZ companies come from a variety of sources, including equity crowdfunding, government grants, pitch competition awards, and angel and venture capital investments.
Goodmans LLP has been Legal Counsel in Residence, at the DMZ since 2016 providing pro bono legal advice and mentorship to its founders. Goodmans is proud to have played a part in this monumental achievement and to continue to support the DMZ in its mission to boost the Canadian technology ecosystem on the world stage
Author: Jay Piett
Authors
Expertise
Insights
-
Technology
Microsoft $400 Million Investment in Swiss Data Centres
Microsoft recently announced a US$400 million investment in its Swiss data centres to develop cloud computing and AI infrastructure in the country. The money will be used to expand and upgrade four of… -
Technology
Canadian Startup Zown Heads South to Revolutionize the US Real Estate Market
Since 2022, Zown Realty Inc. (“Zown”) has provided Canadians with an easy, fast and comprehensive app to support those looking to buy or sell real estate. Zown recently expanded into the United States… -
Technology
Eli Health Secures C$17M to Bring Hormone Testing to the Home
Eli Science Inc. (“Eli Health”), a Montreal-based startup, has secured C$17 million in Series A funding to launch its at-home hormone monitoring technology. This round of investment was led by… -
Technology
Google Announces Fashion-Forward Partnerships for AR Glasses
At Google’s annual developer conference, dubbed “Google I/O,” the company introduced a partnership with fashion brands Gentle Monster and Warby Parker. The goal of the partnership is to work together… -
Technology
Stablecorp Raises $2.5 million for QCAD Stablecoin
Stablecorp Inc. (“Stablecorp”), a Toronto-based fintech company, has secured C$2.5 million (approximately US$1.8 million) in strategic funding to accelerate the growth and advancement of QCAD, its… -
Technology
Google Grants Amii $5 million to Develop Post-Secondary AI Curricula
Google’s philanthropic wing, Google.org, announced a $5 million grant to the Alberta Machine Intelligence Institute (“Amii”) to develop and integrate artificial intelligence (“AI”) materials into…