byMediaBoost

Country comparison

Canada vs Australia: startup funding compared

Since 5 June 2025, startups in Canada raised $4.8B across 114 rounds, about as much as Australia's $4.7B.

CanadavsAustralia
$4.8BCapital raised$4.7B
114Rounds113
$6MMedian round$6.4M
0.7%Share of all capital0.7%
55%Early-stage rounds58%

Capital raised running total by month

$4.8B$2.4B Canada, end of Jun 25: $206MCanada, end of Jul: $392MCanada, end of Aug: $1.1BCanada, end of Sept: $1.1BCanada, end of Oct: $1.2BCanada, end of Nov: $2BCanada, end of Dec: $2BCanada, end of Jan 26: $3.2BCanada, end of Feb: $3.7BCanada, end of Mar: $3.9BCanada, end of Apr: $3.9BCanada, end of May: $4BCanada, end of Jun: $4.5BCanada, end of Jul: $4.5BCanada, end of Aug: $4.7BCanada, end of Sept: $4.7BCanada, end of Nov: $4.8BAustralia, end of Jun 25: $55.3MAustralia, end of Jul: $97.6MAustralia, end of Aug: $208MAustralia, end of Sept: $214MAustralia, end of Oct: $390MAustralia, end of Nov: $779MAustralia, end of Dec: $779MAustralia, end of Jan 26: $1.1BAustralia, end of Feb: $1.3BAustralia, end of Mar: $1.6BAustralia, end of Apr: $2.2BAustralia, end of May: $2.3BAustralia, end of Jun: $2.6BAustralia, end of Jul: $2.6BAustralia, end of Aug: $4.7BAustralia, end of Sept: $4.7BAustralia, end of Nov: $4.7B Jun 25SeptDecMarJunSept
CanadaAustralia
Newsletter Startup rounds, in your inbox.

Free. Unsubscribe anytime.

Where the money goes share of capital by sector

Canada

  • AI43%$2.1B
  • Robotics & Hardware25%$1.2B
  • Other13%$611M
  • Enterprise software8%$372M
  • Fintech4%$190M
  • Health4%$181M

Australia

  • AI70%$3.3B
  • Fintech9%$399M
  • Other5%$236M
  • Climate & Energy5%$218M
  • Enterprise software4%$180M
  • Robotics & Hardware4%$173M

Biggest rounds

Canada

  1. Waabi $750M 1
  2. Clio $500M 2
  3. Cohere $500M 3

Australia

  1. Firmus $2B 1
  2. Firmus Technologies $505M 2
  3. Firmus Technologies $326M 3

Stage mix share of rounds

CanadaAustralia
39%Pre-Seed and Seed39%
16%Series A19%
10%Series B7%
8%Series C and later8%
27%Other or undisclosed27%

Most active investors rounds joined

InvestorCanadaAustralia
Investible·8
Antler·6
BDC Capital6·
EVP·6
Garage Capital6·
Inovia Capital6·
Airtree Ventures·5
Investissement Québec5·
Khosla Ventures5·
OIF Ventures·5
Startmate·5
Airtree·4

Startup hubs rounds and capital by city

Canada

  • Toronto37$2.3B
  • Vancouver15$903M
  • Montreal25$535M
  • Montréal1$302M
  • Calgary9$155M
  • Richmond3$122M

Australia

  • Sydney36$2.4B
  • Melbourne25$336M
  • San Francisco1$320M
  • Launceston1$69.7M
  • Brisbane4$64.3M
  • New York2$56M

Latest rounds

Questions

Which country raised more startup funding, Canada or Australia?

Canada. Since 5 June 2025, startups in Canada raised $4.8B across 114 rounds, against $4.7B across 113 rounds in Australia. That is 0.7% and 0.7% of all the capital FundraiseBase tracked worldwide over the period.

How many startup funding rounds were announced in Canada and Australia?

114 rounds in Canada and 113 rounds in Australia since 5 June 2025, about 7 and 7 a month.

Are startup rounds bigger in Canada or Australia?

The median round is $6M in Canada and $6.4M in Australia, and the average round $42.2M and $41.5M. The median shows the typical round; the average is pulled up by a few very large ones.

What is the biggest startup round in Canada?

The biggest startup rounds in Canada since 5 June 2025 are Waabi ($750M, 30 Jan 2026), Clio ($500M, Series G, 10 Nov 2025) and Cohere ($500M, 14 Aug 2025).

What is the biggest startup round in Australia?

The biggest startup rounds in Australia since 5 June 2025 are Firmus ($2B, 7 Aug 2026), Firmus Technologies ($505M, Growth, 6 Apr 2026) and Firmus Technologies ($326M, 14 Nov 2025).

Which sectors attract the most startup funding in Canada and Australia?

In Canada, AI ($2.1B, 43% of the capital), Robotics & Hardware ($1.2B, 25%) and Enterprise software ($372M, 8%) lead. In Australia, AI ($3.3B, 70% of the capital), Fintech ($399M, 9%) and Climate & Energy ($218M, 5%) lead.

Is Canada or Australia better for early-stage startups?

Early-stage rounds (Pre-Seed, Seed and Series A) make up 55% of rounds in Canada and 58% in Australia. Canada recorded 45 Pre-Seed or Seed rounds and Australia 44 Pre-Seed or Seed rounds, with a median of $3.3M and $1.9M.

How much growth funding (Series B and later) goes to Canada and Australia?

Startups in Canada raised $1.9B in 20 Series B or later rounds, 39% of the country's capital. In Australia, $1B in 17 rounds, 22% of the capital.

Who are the most active startup investors in Canada?

BDC Capital (6 rounds, 2 led), Inovia Capital (6 rounds, 1 led) and Garage Capital (6 rounds, 1 led) are the most active investors in Canada.

Who are the most active startup investors in Australia?

Investible (8 rounds, 2 led), EVP (6 rounds, 2 led) and Antler (6 rounds, 2 led) are the most active investors in Australia.

Which investors back startups in both Canada and Australia?

7 investors joined rounds in both countries. The most active: Gaingels (2 in Canada, 1 in Australia), NVIDIA (1 in Canada, 2 in Australia), At One Ventures (1 in Canada, 1 in Australia), Accel (1 in Canada, 1 in Australia) and TCV (1 in Canada, 1 in Australia).

Which cities lead startup funding in Canada and Australia?

Toronto leads Canada with $2.3B across 37 rounds, ahead of Vancouver ($903M). Sydney leads Australia with $2.4B across 36 rounds, ahead of Melbourne ($336M).

Which month brought the most startup funding?

In Canada, January 2026 ($1.2B). In Australia, August 2026 ($2.1B).

How much did startups in Canada and Australia raise in the last 90 days?

In the 90 days to 10 Nov 2026, startups in Canada raised $274M across 9 rounds and in Australia $94.1M across 6 rounds.

Where does this data come from?

FundraiseBase lists startup funding rounds from public announcements: press releases, company posts and news coverage, checked and updated every day. Amounts are in US dollars. Some rounds are never announced, so the figures show what was made public, not every round. Corrections are welcome.

More comparisons

Canada

Australia

All country comparisons →