Element AI, Ritual top Narwhal List of Canadian tech companies on track to reach $1 billion

Element AI CEO Jean-François Gagné and Prime Minister Justin Trudeau meet on the sidelines of the Fortune Global Conference in Toronto. October 15, 2018. Element AI

Element AI, the Montreal artificial-intelligence firm, tops Canada’s annual Narwhal List of technology companies with the potential to reach $1 billion in value. This year’s list includes four mobile, two AI and one blockchain companies in the top 10.

The number of companies on track to reach $1 billion has nearly tripled in the past two years. There are 28 Canada-based tech firms with similar growth rates as unicorns in the U.S., according to the new report from the University of Toronto’s Impact Centre, released exclusively to The Logic. That number is up from 18 companies in 2017 and 10 companies in 2016.

This year’s list—which can be read in full below—includes three blockchain companies, the first time the burgeoning sector has been included.  

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