Montreal Startup Companies: 10 to Watch

  • By: mvadmin
  • Date: July 11, 2019
  • Time to read: 4 min.

Betakit, a media company that follows Canadian start-ups and tech innovations, recently released a list of 10 Montreal startup companies to watch in 2019.

“This year, BetaKit reached out to the Montreal tech community, asking for recommendations on the companies we should be keeping an eye on. Along with some of our own suggestions, here are the companies — in no particular order — that we think are worth watching this year,” Betakit said.

Here is the list of Montreal startup companies worth watching out for this year.

RenoRun

RenoRun is an app and a way of getting last-minute construction materials delivered to construction job sites. Whether it’s lumber, drywall, screws or any other building materials, RenoRun claims it will bring it straight to the job site within 2 hours.

Virtual contractor RenoRun got off to a strong start this year with a CAD 3 million seed round, in late February, led by Real Ventures with participation from ScaleUp Ventures, Betakit said.

The company allows general contractors to order the building materials, as well as get them delivered to the job site within two hours. The platform sources materials from multiple partner stores and the idea are to build the Instacart of the construction industry. However, RenoRun’s founder has even bigger plans – scheduled deliveries timed with the beginning of projects, which, the company claimed, could bring in deals worth $10,000 or more.

Lightspeed

Lightspeed provides small and medium-sized retail and restaurant businesses with a point of sale solutions. According to reports, businesses are using Lightspeed in over 100 countries

“It’s no surprise to find Lightspeed on this list. The company began trading on the TSX on March 8 for $16 per share, aiming to raise CAD 240 million in its initial public offering. As of publication, LSPD was sitting at 20.80 per share. The IPO followed months of new personnel announcements and a $207 million Series D funding round,” Betakit said.

Element AI

Element AI is artificial intelligence company and one of the software companies in Montreal who is the most awaited launches of the year.

“Montreal’s best known, and probably most secretive, artificial intelligence company is coming out of its “stealth phase” this year, launching its products in the first and second quarters of 2019. Its first announcement, in late February, was a partnership with the National Bank of Canada for AI-powered software helping the bank improve its cybersecurity.” according to Betakit.

Sonder

Sonder’s apartments-as-hotel rooms business puts it in direct competition with Airbnb, which acquired last-minute hotel booking app, HotelTonight, earlier this month. While Airbnb is undoubtedly the incumbent, Sonder may be able to give it a run for its money. The company, which has already expanded to 17 cities in four countries, has positioned its apartment offerings as more stable versions of the hospitality giant’s.

HumanFirst AI

HumanFirst is an intelligent add-on for live chat tools. It makes chat support better.

The company makes life easier for human chat agents by using artificial intelligence to predict and automate the response shortcuts they need, when they need them. It is on this list since experts have predicted the success of its technology.

AON3D

This company was founded by a group of McGill University materials engineers in 2015 and has shaken up the industrial 3D printing space with a more affordable, high-quality printer than other options on the market. The company, one Y Combinator’s Winter 2017 cohort, has more than 100 customers, is close to installing nearly 200 machine units, and has done more than 10,000 prints on its AON-M2 printer. It’s also drawing in venture capital. Worth watching out for as 3D printing becomes more accessible.

Breathe Life

Breathe Life aims to improve the insurance industry with digital products and analytics. Earlier this year it got a $4.5 million seed round to help with its expansion into the US, making it already one of several successful Montreal startups.

Vention

The company’s online platform allows manufacturing professionals to create their custom equipment on the company’s website, using Vention-designed modular pieces. Once the customer has finished making their equipment, they purchase all the parts involved and can receive them in as little as three days.

MIMS

My Intelligent Machines (MIMS), made it onto last year’s list and with good reason. The company’s MIMsOmic SaaS platform for the life sciences industry uses artificial intelligence to review data uploaded by scientists and run algorithms that would bring out trends and insights.

Arctic Fox AI

According to Betakit Arctic Fox, AI might be flying under the radar, but this tech startups is one to watch this year. The start-up uses deep-learning to diagnose neurodegenerative diseases like Alzheimer’s and dementia and identify the best treatment for patients based on several factors.