Pender Ventures — a Vancouver-based venture fund for B2B software and healthtech startups on the cusp of commercialization and scale — has released its annual report on healthtech funding and trends in 2024, and what to look for in 2025.

Despite the massive amounts of money invested into the B.C. ecosystem from government sources in 2023 — including the Abcellera, provincial, and federal government collaboration to the tune of $701 million — 2024 proved to be a tougher year for businesses. Early-stage companies (those that are less than five years old and raising a Series A or B) were hit hard in Canada, and even big businesses delisted their companies from stock exchanges to re-evaluate their positions.

That said, the document highlights a number of bright spots on the horizon — particularly in the pharmaceutical industry, where drugs identified in a lab by AI might finally make it through clinical trials, as well spotlighting the upcoming rise of companies that are focused on workflow management. 

We read the full report and pulled out the key takeaways, so you don’t have to.