Canadian proptech industry adapts with over 530 startups despite funding drop

The Canadian proptech industry is evolving, with over 530 startups now active, despite a 62.5% drop in funding to $300 million in 2024. Companies are focusing on sustainable business models and practical solutions. The industry is evenly divided between residential and commercial sectors, with 16% dedicated to construction. Successful examples include ParkChamp, which increased revenue by $1 million, and EcoPilot, which reduced energy costs by 10%. Most proptech startups are located in five major tech hubs. The shift towards results-driven solutions marks a significant change in the industry’s approach.