Worximity, a Montreal-based company that focuses on digitalizing manufacturing production through the Internet of Things, has raised $2 million in funding from W Investments and the Fonds de solidarité FTQ.
The company specializes in the “smart factory”: monitoring manufacturing production in real time through its mobile Tileboard application and smart sensors. The new capital will increase Worximity’s computer development team to pursue opportunities in the U.S. market while allowing it to develop new technologies so factories can become even smarter.
“The digital shift, which a number of industry leaders have already embraced, will undoubtedly become more pronounced with the rise of the Industrial Internet of Things,” said CEO Yannick Desmarais. “In the coming years, all manufacturers will be monitoring their operations in real time from anywhere in the world. This investment will allow us to maintain our position as a leader in this field and to better meet the growing demand.”
The company was founded in 2011, but the idea for it came in 2009. That was when the founders noticed that companies had a “real need for intelligent tools to better manage productivity on the ground floor.” There was no tool on the market to connect machines and systems while providing real-time production information, so Worximity set out to transform the industry through mobile tools and productivity innovation.
Worximity’s goal is to provide managers with key data so they can take prompt and effective action. Rather than waiting for Excel or paper reports at week- or month-end, managers can have access to these crucial figures right away. They know what is happening in their facilities at any given time, whether their operations are centralized in Montreal or are spread across separate continents – Yannick Desmarais
Employing 15 people, the company has been able to some big-named clients, such as Weston, Cargill, Interbake Foods and Bimbo Bakeries and even the City of Montreal.
“This is a great example of how more traditional sectors of the economy can benefit from innovation, and how manufacturing firms can improve their productivity and performance,” added Alain Denis, senior VP for innovation at the Fonds de solidarité FTQ.
The company is located in the Cité du Multimédia district in Montreal. Its technologies are being used on more than 250 production lines in North America.