Montreal-based Worximity has raised $6.25 million in series A funding from Marel, a global provider of food processing equipment and systems, and previous investors.
Marel is providing $5 million while the existing investors are chipping in with $1.25 million.
“The strong compatibility of our technologies, as well as the simplicity of installation and use of our products has facilitated the process,” said Worximity CEO Yannick Desmarais. “Our two companies are well regarded in the food protein processing industry and Marel has a strong understanding of the challenges related to their investments. Their knowledge of international markets will help us accelerate our growth.”
Worximity helps factories enable automatic data collection and make actionable decisions by using things like data valorization. Teams can make smarter decisions with role-based, real-time actionable data and insights.
In fact, since its founding in 2011, Worximity has served more than 200 customers and has helped improve the performance of more than 1,000 projects around the world. Along with real-time monitoring, it offers analytical views, predictive insights, machine learning and artificial intelligence. Some of the bigger clients the business has worked with include Barry Callebaut, BIC, Grupo Nutec, Daunat, Dessaint Traiteur, Fleury Michon, Royal Canin and Ozpak.
Meanwhile, Marel is a multi-national food processing company based in Iceland. The company manufactures and provides equipment, systems, software and services to the poultry, meat and fish processing industries. Marel is one of the world’s largest manufacturers of food processing machinery. The company employs approximately 5,500 people in offices and subsidiaries in over 30 countries, across six continents.
“Worximity is a highly relevant partner for food processors looking to optimize their production using digital technologies,” said Marel’s Arni Sigurdsson. “It complements Marel’s comprehensive software solution, making the partnership a great opportunity to drive growth as food producers continue to harness the power of data and analytics to improve their operations.”
Currently the Worximity technology team is at 25 people, including software developers, engineers, data scientists, business analysts and specialists in artificial intelligence. The company plans to double its workforce by the end of 2020.
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