Spotlight on Toronto’s Pioneering Virtual Reality Startups: Canadian Innovation Excellence

January 29, 2024

Canada has not only been leading in technological advancements but has also been home to some of the most innovative startups globally, particularly in the Virtual Reality industry. In the past few years, the VR industry has exploded with creativity, and Toronto, Ontario – the tech hub of Canada, is at the forefront of this technological revolution brimming with startups at the cutting edge of this sphere. This article is part of a series designed to highlight these pioneering startups operating in the VR industry, with special attention to those that were founded in 2020 or later.

The Virtual Reality technology has been hailed as the next big thing in information and communication technology. It’s an immersive technology that provides a computer-generated simulation of an alternate universe or reality. In Toronto, the Virtual Reality scene is on fire, with startups employing this technology to transform multiple sectors, from gaming and real estate to e-commerce and live entertainment.

This discussion presents ten such startups, each leveraging VR technology to introduce novel experiences and solutions to various industry challenges. These startups are not only slotting Toronto as a global leader in VR technology but also pushing the frontiers of what’s possible in the business landscape.


Founded by Dan Merriam and Danila Solovov, ICAREUM operates in industries such as 3D technology, construction, e-commerce platforms, real estate, smart building, smart cities, software and virtual reality. It is a powerful community of programmers, developers, designers, architects, and professionals who believe in the power of technology to bring positive change. They gamify pre-construction and architectural visualization using BIM and digital twin technology. Connect with them on Facebook or LinkedIn.


Founded by Milan Baić, SpaceCard is working on augmenting reality, developing platform, mobile apps, and virtual reality. The startup accelerates buy-in and decision making for remote audiences through interactive mockups, showrooms, and walkthroughs. It’s a faster way of getting everyone ‘in the design’ with a simple popup visor and a downloadable app. Know more about them on their Facebook, LinkedIn or follow them on Twitter.


4vr is a startup that specializes in virtual reality and was founded by Eciane Romeiro. Their mission is to leverage technology to enhance human experiences and transform businesses. Find more about 4vr on their Facebook, LinkedIn or follow them on Twitter.

Noyoko Production

William Rovira founded Noyoko to create media content for the growing virtual live entertainment market taking over Japan, China, and Indonesia. They stream live animation, music, and VR videos on various platforms, creating a community where watchers can share fan artwork and communicate with their celebrity idols without restrictions. Connect with them on their Facebook, Twitter, or LinkedIn.

Zesty Market

Zesty Market, an augmented reality, blockchain, Internet, and virtual reality startup helps users advertise and monetize their creations in the metaverse through marketing and business tools. It provides immersive ads in 2D and VR across metaverse worlds, including WebXR and Decentraland, for web3 and crypto-native customers. Find them on LinkedIn or follow them on Twitter.


Austin Zheng and Shawn Pang founded Matterverse, a 3D technology, blockchain, gaming, software, and virtual reality startup that aims to address metaverse’s main complaints – lack of high-fidelity visuals, confusing creation tools, and hardware restrictions. Matterverse is cloud-rendered, meaning creations can be shared via simple website URLs and experienced through any web browser and device. You can find more about them on their LinkedIn page.


SilicoLabs is a startup engaged in artificial intelligence, augmented reality, market research, neuroscience, software, and virtual reality. They offer a no-code task design software that enables users to create and combine 2D, 3D and real-world tasks, and traditional self-report measures, making it an effective method for testing human behaviour and AI across all platforms. More about them can be found on their LinkedIn or follow them on Twitter.


Metaghiti, founded by Hosein Moazzen with a vision for a virtual reality platform powered by the blockchain. The platform establishes a metaverse where users can claim ownership of virtual land identified by a set of Cartesian coordinates, and the contents can range from static 3D scenes to interactive games.

The VR industry in Toronto is experiencing a level of innovation and growth that is pushing the boundaries of technology. These startups represent a microcosm of the remarkable efforts underway in the VR industry across the city. As these companies continue to use VR tech to transform various industries, the future of Virtual Reality in Toronto and indeed, all of Canada, looks bright and promising.

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