Keep an Eye on These 12 Canadian Companies in 2024

Digital Marketing / December 21, 2023

It’s that time again—time to dive into the heartbeat of Canadian innovation in 2024. If you’ve been following along from 2019 to 2022, you know the drill. We’re back with our annual tradition of spotlighting awesome game-changers in the business world.

Read our previous editions: 2019, 2020, 2021, 2022

The following companies represent the true Canadian entrepreneurial spirit. And you’ll definitely want to keep an eye on them in 2024. Without further ado, let’s get into it.

01. Mid-Day Squares

Anyone working a 9 to 5 job will tell you, a midday snack is absolutely essential. And our team of Bloomers is no exception. Mid-Day Squares are a fan favourite, hitting the sweet spot with their delicious flavour and energizing goodness. They keep the team fueled and inspired all day long!

With a focus on high-quality ingredients and a commitment to balancing taste and health, Mid-Day Squares offers a range of delicious and satisfying snacks that cater to various dietary preferences. Midday Squares’ impressive growth is undeniable, already considered the “Hershey Co.” of its generation–Mid-Day Squares is on track to generate $36 million next year.

02. Inkbox

Inkbox is a company that has rapidly ascended in the world of temporary tattoos, redefining self-expression through innovative and customizable designs. With a commitment to providing a unique and personalized tattoo experience, Inkbox’s growth in the last few years has been nothing short of impressive, as its trendsetting approach resonates with a diverse and enthusiastic community of individuals looking for temporary ink that reflects their style.

Inkbox made such a huge impact on its industry, they caught the attention of a giant–BIC (french pen company), who purchased the company in 2022 for the considerable amount of $65 million. While Inkbox takes the next natural steps to grow globally, the founders still plan to keep managing the main part of their business in Toronto, where it all began.

03. 7shifts

7shifts is a groundbreaking team management platform revolutionizing the restaurant industry! With 7shifts, you can standardize shift duties, optimize labour costs, ensure compliance with labour regulations, and even handle your team’s tips and wages seamlessly.

Elevate your operational efficiency with 7shifts as we redefine how you approach employee management. Simplify intricate tasks such as scheduling, team communication, and time-off requests, all within one innovative platform.  Embrace innovation, streamline your processes, and stay ahead in the competitive landscape with 7shifts!

7shifts was also featured in The Globe and Mail’s Best Workplaces in Canada 2023 list. Shifties are given unlimited vacation time, encouraged to take at least four weeks off per year, and the first week of July off to unplug and recharge. Talk about being innovative!

04. ChargeLab

ChargeLab’s mission is to build EV charging solutions that scale. This means making EV charger deployment fast and affordable. And making charging easy and reliable for every EV driver. ChargeLab is building for scale because our planet needs millions more EVs, and consumers want millions more EVs. Automobiles have been powered by petrol since 1892. The switch to electric vehicles is a once-per-century economic and cultural shift. They are pioneers of the new era of transportation and energy.

In 2023, ChargeLab announced the addition of $15 million in new financing to their Series A, doubling funds previously raised and bringing the round’s total to $30 million. With this new investment, ChargeLab aims to be the Android of EV charging.

05. Londre Swimwear

Renowned for its eco-friendly swimwear and clothing, Londre has repurposed more than 1 million plastic bottles to craft its trendy and inclusive designs. The brand has successfully cleared 4,500 pounds of waste from BC’s coastline, replacing it with the growth of 450 baby corals. 

As mentioned in Forbes, LONDRE’s pieces are crafted with the intention of empowering women of all shapes, colours, and sizes. They’ve been growing really fast since they started, getting really good at staying flexible while sticking to the values that attract their loyal customers.

06. Three Ships Beauty

Three Ships Beauty is on a mission to show that when you use simple, naturally-effective skincare, you won’t need a 12-step routine or convoy of complicated products.

Three Ships Beauty, a beauty brand that was once a startup, has had an exceptional year. Starting with the announcement of its B Corp Certification in January (a distinction held by only 102 skincare brands), followed by the acquisition of five beauty awards and the introduction of five new products, there’s no indication that this dynamic brand is losing momentum. This summer, the brand announced its expansion into Whole Foods across North America, including 489 doors in 42 out of 50 states across North America, as well as 14 in Canada.

“As a purpose-driven brand ourselves, we’ve always admired Whole Foods’ commitment to sustainability and natural products, making this retail partnership more fitting for our products and consumers.” said Connie Lo, co-founder of Three Ships Beauty.

07. Alvéole

Founded in 2013, Alvéole helps companies, schools, and organizations meet their engagement and sustainability goals. As of today, they have successfully installed nature-based solutions such as honey bee hives, wild bee homes, and bee-friendly gardens, in more than 40 cities worldwide. By installing nature-based amenities in cities across the world and fostering environmental awareness, they encourage companies to take concrete action to protect all pollinators and build more bee-friendly cities.

Last year, Alvéole closed $8.1 million CAD in Series A funding from Round13 Capital’s EarthTech Fund. This total includes $150,000 in seed funding from Edō Capital. In addition to this incredible milestone for the Montreal-based company, Alvéole announced their partnership with Fifth + Broadway and AllianceBernstein (AB) to set up a beehive on the green deck of the 501 Commerce building.

08. Oraki

Designed by women, for women, ORAKI clothing is sustainable, made from recycled and natural fibers, ethically produced in Canada, and respectful of all. For example, the manufacturing of ORAKI leggings consumes 85% less energy, 20% less water and generates 75% less CO2 emissions than conventional leggings. 

Constantly on the lookout for new technologies and sustainable innovations, they offer 100% vegan clothing. This means that 100% of the fibers used in the manufacturing of their clothes and 100% of the finishing techniques do not contain any animal by-products. They are also aware that sustainable fashion involves production and supply chains. To curb overproduction, all their collections are produced in limited quantities only.

This year only, Oraki has earned an honourable mention in both Forbes and Elle Canada. Let’s keep an eye out for this one because something tells us it’s only the beginning for this impressive brand.

09. The Pretty Ugly Company

Witnessing the staggering amount of discarded food in the restaurant industry, the founders of Pretty Ugly decided to channel their expertise into a noble cause. Their mission? To transform surplus, fresh tomatoes—often overlooked and labelled as “ugly” by conventional standards—into a delectable range of salsas, giving unsold produce a second chance to shine.

In April this year, the company made waves on Radio-Canada’s Dans l’oeil du dragon. They pitched for a $50,000 investment in exchange for a 10% stake in the business. Guess what? They didn’t just leave with a deal—they walked away with an even better one. Thanks to David Côté, Nicolas Duvernois, and Georges Karam, they secured $50,000 for a 15% share of the company. Talk about a win-win!

10. Fabrik8

Fabrik8 is dedicated to crafting workspaces that prioritize productivity, employee wellness, and company culture. Their focus on creating environments that support businesses and entrepreneurs aligns with the vision of shaping the next generation of offices, emphasizing health, productivity, and a unique company culture. Fabrik8 is not just providing spaces but fostering an ecosystem where teams can thrive and succeed.

In the beginning of this year, Fabrik8 set to raise the bar in the ever-escalating quest to add leisure attractions that appeal to returning-to-work office tenants with a fully maintained and refrigerated outdoor ice rink on the roof.

“Our aim is to get clients to want to come to the office. In this market, you need to offer more to get clients to want to come and this is having an impact,” said Vanessa Brochu, director of the Fabrik8 building.

11. Sampler

Sampler is now a big name in product sampling and digital marketing. They’ve grown a lot in the past few years because their platform is great at connecting brands with the right people through personalized sampling campaigns. They focus on using data and making sure customers have a good experience, making them a go-to partner for brands trying to connect with customers in the digital world.

In July of this year, Sampler announced it had acquired fellow Toronto tech startup AdMass. Sampler plans to add AdMass’s AI and UGC capabilities to its offering–a strong strategic effort to accelerate the company’s growth. To date, Sampler has secured a total of $13 million CAD in venture capital from a list of backers that includes BDC’s Women in Technology Fund, StandUp Ventures, MaRS IAF, and EDC.

12. Sheertex

Sheertex is changing the game in the world of hosiery, making legwear that’s super durable and comfy. In just a few years, they’ve become the go-to for unbreakable sheer pantyhose, setting a new standard for style and practicality. Sheertex is all about top-notch quality and new ideas, perfect for anyone who wants hosiery that looks great and can handle everyday wear like a champ.

The brand also known as the unbreakable pantyhose maker raised $101-million led by retail giant H&M to expand business last year. And if that weren’t enough to convince you these tights are legit, Taylor Swift herself wore them to dinner in New York City. That’s right!

Final Words

Capturing the impressive accomplishments of these companies in a concise summary was quite the challenge. For aspiring startup enthusiasts, learn about the journey each of these companies went through. Let their stories be the spark that ignites your inspiration!

Now, which of these companies made a lasting impression on you this year? We want to know what you think!