Canvass Analytics Inc. (Canvass AI), a Toronto, Ontario, Canada-based provider of an industrial AI software platform, raised $14.23M in Series A extension funding.
The round includes an extension of US $7.73m, led by Yamaha Motors Ventures, and a CDN $5.7m (US $4.43m) repayable loan from the Government of Canada, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).
The company intends to use the funds to expand operations and its business reach.
Led by CEO Humera Malik, Canvass AI is a software provider that leverages AI to enable industrial workforces to solve day-to-day operational problems, such as reducing carbon emissions and waste, improving yields, and optimizing facility operations.
The company’s customers span the oil and gas, chemical and petrochemical, metals and mining, and energy sectors.
FinSMEs
09/08/2022