Fig 8. Total Funding Amount in Canada 1 ($M) (3Q Moving Avg) (Log Scale)
Comparing this macro picture with how funding in the US peers changed over the same period, we see that US peers increased funding rather more evenly across stages than did Canada. As a result, the gap between seed and Series A has narrowed slightly in the US over the same period, whereas in Canada, it has widened:
Figure 9: Total Funding Amount in US ($M) (3Q Moving Averages)(Log Scale)
3.5. Seed round sizes are smaller in Canada The charts above (in 3.2 and 3.3) illustrate a gap in terms of total seed funding. The attrition funnel analysis (in 3.1) suggests that this is at least partly due to lower seed
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