Worximity Technology, a Montreal, Canada-based company focusing on Industry 4.0, raised $6.25M in Series A funding.
The round included:
– a $5m investment from Marel, a global provider of advanced food processing equipment, systems, software and services to the poultry, meat and fish industries, and
– an additional $1.25m from W Investments and the Fonds de solidarité FTQ.
The company intends to use the funds to increase development of technological innovations and accelerate growth on international markets.
Founded in 2011 and led by Yannick Desmarais, CEO, Worximity Technologies provides technologies that enable automatic data collection, real-time monitoring, analytical views, predictive insights, machine learning and artificial intelligence by connecting all equipment and employees in processing facilities. Since its launch, The company has collaborated with customers from around the world, including Barry Callebaut, BIC, Grupo Nutec, Daunat, Dessaint Traiteur, Fleury Michon, Royal Canin and Ozpak.
Worximity’s team is comprised of 25 knowledge-based employees, and includes software developers, engineers, data scientists, business analysts and specialists in artificial intelligence. The company plans to double its workforce by the end of 2020.
Marel developed Innova, a food production management software that provides full traceability throughout the production process and helps food producers improve performance and enhance productivity, and is compatible with the Worximity TileboardTM technology. The company employs more than 6,000 employees in more than 30 countries and invests approximately 6% of revenues in innovation every year.