Invixium, a Markham, Ontario-based provider of modern biometric solutions for access control and workforce digitalization, received US$3.5M in debt financing.
CIBC Innovation Banking provided the funds.
The company will use the financing to support its growth plans.
Founded in 2012 and led by Shiraz Kapadia, CEO & President, Invixium builds internet-ready biometric security solutions utilizing face, finger vein and fingerprint recognition for access control, workforce management and smart building automation. The company’s solution incorporates data capture devices and software that provide precise audit trails of access and analytics to enterprises for increased productivity and security.
Invixium’s biometric solutions cater to clients ranging from SMBs to large scale enterprises and industries for indoor and also outdoor deployment in rugged harsh environments. Through channel partners, its product suite is sold into healthcare, corporate offices, utilities, airports, higher education, manufacturing, retail, data centres, banks, hotels and resorts, smart cities and residential end users.
The company, which also has an office in India, is backed by McRock Capital, BDC Capital and Connecticut Innovations.