The federal government is investing nearly $16.5 million into 13 businesses and organizations across the Greater Toronto Area as it looks to accelerate artificial intelligence adoption and help Canadian companies bring new AI technologies to market faster.
The funding was announced by Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). The investments support projects spanning healthcare, energy management, manufacturing, legal technology, financial services, construction, transportation, and research.
Among the recipients are startups developing AI-powered healthcare platforms, next-generation drug discovery tools, energy optimization software, and solutions designed to improve productivity across industries.
1. Cosm Medical ($1,987,825)
Toronto-based Cosm Medical will use the funding to accelerate the clinical and commercial rollout of its Gynethotics™ platform. The AI-driven system designs and manufactures patient-specific gynecological devices, replacing traditional one-size-fits-all approaches with personalized solutions tailored to individual patients.
Founded in 2017, the company is building a precision platform for pelvic health and women’s healthcare.
2. DMD Building Systems ($1,700,000)
Scarborough-based DMD Building Systems will invest in advanced manufacturing equipment, robotics, and automation technologies while developing an AI software application for engineering teams. The new platform is designed to extract structured information from non-standard formats, improving data organization and streamlining engineering workflows throughout the building design process.
3. Edgecom Energy ($575,000)
Edgecom Energy will use the funding to accelerate development and commercialization of its AI Energy Co-Pilot platform. The Toronto company combines machine learning and real-time operational data to help large energy consumers optimize energy use, improve efficiency, and reduce operating costs.
4. Future Fertility ($555,239)
Future Fertility is commercializing a new AI-powered technology aimed at improving the assessment of endometrial receptivity, an important factor in fertility treatment outcomes. The Toronto company is already recognized globally for its AI-powered fertility technologies, which are used in more than 300 clinics across 35 countries.
5. MarkiTech ($500,000)
Oakville-based MarkiTech will advance its AI-powered healthcare platform, CliniScripts. The solution automates clinical workflows and operational processes, helping healthcare providers improve efficiency while reducing administrative workloads.
6. MinuteBox ($700,000)
MinuteBox will add advanced AI capabilities to its cloud-based entity management and registry services platform. Based in Thornhill, the company serves law firms and in-house legal teams, providing digital compliance, transaction management, and corporate registry solutions.
7. Naryant ($536,403)
Oakville-based Naryant is modernizing its fleet management systems through AI-driven technologies designed to improve operational efficiency, safety, and environmental sustainability. The company develops software and data solutions that help organizations leverage analytics and business intelligence tools to improve decision-making.
8. Private AI (Limina) ($2,000,000)
Private AI, operating as Limina, received one of the largest investments announced. The Toronto company will scale its sensitive data infrastructure platform, helping organizations in highly regulated industries such as healthcare, insurance, and financial services deploy AI solutions while maintaining compliance and protecting sensitive information.
9. ProteinQure ($1,800,000)
ProteinQure will use the funding to commercialize an AI-powered targeted drug delivery platform. The Toronto biotechnology company specializes in AI-driven protein drug discovery and has developed what it describes as the first AI-designed peptide drug currently undergoing Phase I clinical trials.
10. Fiscal.ai ($1,521,327)
Toronto-based Fiscal.ai is developing an AI-powered platform that transforms unstructured corporate filings into structured financial data. The platform aims to make institutional-grade financial insights more accessible to investors, analysts, developers, and financial research teams.
11. Trax ($394,000)
Trax will develop and commercialize an AI-powered digital platform designed to accelerate building permit approvals. The software performs AI-assisted compliance checks against building codes and regulations, helping municipalities and construction professionals streamline the approval process.
12. Vector Institute ($4,000,000)
The largest recipient of the funding announcement, Toronto-based Vector Institute, received $4 million to launch a Data Readiness, Model Development, and Deployment program. The initiative will help startups transform AI concepts into commercial products by improving data quality, developing AI models, and supporting deployment strategies.
13. VisFuture ($200,000)
North York-based VisFuture will develop a natural-language AI platform that helps small and medium-sized businesses access real-time operational data. The solution is designed to provide immediate insights across sales, inventory, and finance systems, enabling faster decision-making while reducing reliance on technical teams. The investments highlight continued government support for Canada’s rapidly growing artificial intelligence sector. While healthcare and life sciences accounted for several projects, the funding also reflects the increasing adoption of AI across industries including manufacturing, construction, legal services, transportation, finance, and energy.
With nearly $16.5 million being deployed across the region, the funding is expected to help companies accelerate commercialization efforts, create high-value jobs, and strengthen Canada’s position as a global AI innovation hub.