AXL Launches Venture Studio with $15M to Foster 50 AI Companies in Canada

AXL, a Canadian venture studio, has launched with a $15 million fund to build 50 AI companies over five years. Backed by Canadian entities and industry investors, AXL aims to retain Canada's intellectual property and top AI talent to secure its leadership in the global AI race. Founded by seasoned tech entrepreneurs, AXL combines research from the University of Toronto with market insights from Canadian businesses through its AI Catalyst program.

TORONTO, June 17, 2025 - AXL, a new Canadian venture studio, has launched with a $15 million fund to build 50 AI companies over the next five years. The venture studio is backed by a coalition of Canadian entities and industry investors, aiming to retain Canada's intellectual property and top AI talent to secure its leadership in the global AI race.

AXL was founded by seasoned tech entrepreneurs Daniel Wigdor, Tovi Grossman, David Sharma, and Ray Sharma. The venture studio combines AI research from the University of Toronto with market insights from Canadian businesses through its AI Catalyst program. This program partners leading Canadian companies like Dillon Consulting to investigate how AI can reshape their businesses, often becoming the first customer and strategic investor in resulting ventures.

AXL's mission is to bridge cutting-edge research with commercial success, ensuring that Canada's top breakthroughs are built and scaled at home. The venture studio provides capital, mentorship, operations, and the infrastructure necessary to turn ideas into impactful ventures.

“Canada has a long history of pioneering breakthroughs, yet we’ve repeatedly failed to capture the value of our own innovations as our talent and biggest ideas scale somewhere else,” said Daniel Wigdor, Co-Founder and CEO of AXL. “We’re here to change that by connecting Canada’s AI excellence with real market needs and the full-stack support that founders need to win globally.”

AXL's model integrates access to AI research with market insights, creating ventures rooted in validated industry demand and supported by a full-stack team managing prototype and application development, legal, finance, sales, and growth strategies.

“Our corporate partnerships are the engine that transforms lab breakthroughs into ventures with real-world traction,” said David Sharma, Chief Growth Officer at AXL. “By collaborating directly with Canada’s private sector, we ensure that innovation is guided by genuine industry needs and positioned for rapid adoption.”

AXL's launch comes amidst a global AI race, with Canada facing pressure to retain its intellectual property and top talent. Over the past decade, American firms have acquired 70 Canadian AI companies, underscoring the need for initiatives like AXL to keep Canada's innovations at home.

AXL is committed to nurturing a new generation of founders by providing the necessary infrastructure and community to transform innovation into lasting impact. The venture studio's goal is to create a thriving, self-sustaining AI ecosystem that retains talent, intellectual property, and economic prosperity within Canada.

References:
[1] https://www.businesswire.com/news/home/20250617303439/en/AXL-Launches-Venture-Studio-with-%2415M-to-Build-50-AI-Companies-Fuelling-Canadas-Global-Leadership-in-AI-Research-to-Commercialization
[2] https://www.theglobeandmail.com/business/article-toronto-venture-studio-axl-ai-artificial-intelligence-innovation/