Which Influential Toronto Cannabis Startups are Shaping the Industry in 2023?

Canada has been at the forefront of the burgeoning cannabis industry since its federal legalization of the plant in 2018. Since then, an exciting array of innovative startups has sprouted up across the country, each striving to carve out their niche in this rapidly growing sector. Toronto, which is Canada’s most populous city, has become a hub for cannabis startups. In this article, we will explore fifteen Toronto-based cannabis startups that are making waves in the industry.

These startups span the array of what the cannabis industry has to offer – from medical and recreational cannabis growers to tech enterprises that support the industry’s operations. They are making strides in sectors such as wellness, financial services, brand marketing, and retail. Many of these companies are harnessing the potential of cannabis and adding their unique twist, positioning Canada as a pioneer, innovator, and authority in the global cannabis scene.

So without further ado, let’s get acquainted with Toronto’s top cannabis startups.

RIV Capital

RIV Capital is a cannabis venture capital firm that identifies, supports, and cultivates promising cannabis-based enterprises. Founded by Bruce Linton, Peter Hatziioannou, and Sean McNulty, the company plays a significant role in the growth and development of the cannabis industry in Toronto and beyond.

Thrive Cannabis

Thrive Cannabis co-founded by Art Bluhm, is a licensed ACMPR producer that cultivates high-quality, small-batch craft cannabis. Their approach elevates the cannabis growing game, placing a premium on quality above all else.


GrowerIQ is a Cannabis Management Platform developed by Andrew Wilson. GrowerIQ offers a comprehensive platform that addresses several aspects of the cannabis business, from compliance to supply chain management.

Heavenly Rx

The wellness company Heavenly Rx firmly believes in the power of CBD. Their diverse range of consumer goods focuses on promoting health and wellness through high-quality cannabis-derived products.

Flora Growth

Co-founded by Luis Merchan, Flora Growth leverages natural cultivation practices to produce medical and wellness cannabis products. Their commitment to sustainable agriculture practices sets them apart in the cannabis industry.


Superette, founded by Mimi Lam, is a uniquely charming dispensary that makes the purchase of cannabis as pleasurable as using it. Their approach places a fun twist on the cannabis retail experience.

Mountain Valley MD

Mountain Valley MD is a cannabis manufacturer founded by Jeffrey Dignard and Evan Clifford. They produce, manufacture, and globally distribute high-quality medicinal cannabis.


WEED.APP is a cannabis app designed by Liam Gannon to enhance the cannabis buying experience. It targets passionate cannabis users seeking both information and community.

Bluedot Organics

Bluedot Organics is a biotechnology company that creates plant-based medicines and byproducts using cannabis. They adopt a scientific approach to harness the botanical and medicinal properties of cannabis.


BudTender founded by Jake Crow, is a software platform that focuses on customer feedback and reputation management for cannabis retailers. They provide essential business tools to retailers in the cannabis space.


The team behind BudTender, Jake Crow and Mackenzie Ferguson, also helmNugget. They are building new tech products for the burgeoning cannabis industry.


Hempsana, co-founded by Randy Ko and Sohil Mana, operates as a cannabis extraction and purification company. They produce cannabinoid oils and cannabis-infused products.

Trutrace Technologies

TruTrace Technologies, run by Robert Galarza and Tommy Stephenson, offers technology solutions that power quality assurance standards across various industries, including cannabis, food, and cosmetics.

Hoshi International

Fueled by Michael H, Hoshi International engages in the cultivation, distribution, manufacturing, and processing of cannabis products.

Spinach Pay

Spinach Pay, started by Chad Agate, provides payment solutions for cannabis retailers, making it easier for customers to transact in this dynamic and growing sector.

These startups are a testament to the vigor and diversity of Toronto’s cannabis scene. From cultivation to consumption, tech to retail, our entrepreneurs are seizing opportunities and pushing boundaries. The future potential of the cannabis industry appears promising, and we are excited to see the continued growth and innovation of these startups in the years to come.

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Canada Venture News

CanadaVenture.news is a Canadian venture magazine that covers startups, business, technology, and innovation in Canada. The online publication provides news, insights, and resources for entrepreneurs, investors, and business professionals, featuring articles, interviews, and analysis of the latest trends and developments in the Canadian startup ecosystem.