Manufacturing AUTOMATION

OTTO Motors featured on Communitech’s Team True North 2022 list

November 9, 2022
By Manufacturing AUTOMATION

OTTO Motors is a member of Communitech’s Team True North for 2022. Team True North is a data-based initiative by Communitech that identifies the country’s highest-potential tech companies.

“We’re honoured to be named to the Team True North and to be the only robotics company on the list for 2022,” said Matthew Rendall, CEO and co-founder of OTTO Motors. “In the past few years, we’ve seen automation transition from a tactical initiative to a strategic one, and this recognition by Communitech speaks to the growing importance of automation. We’re proud to be among this year’s winners and to help keep the economic wheels turning in Canada and around the world.”

According to comprehensive data from Silicon Valley Bank, analysis by New York-based data science firm Two Sigma and the model developed by Communitech for measuring growth potential, each company in the 2022 lineup of Team True North meets one of four criteria:

  • $20M-$39M in annual revenue with 60 percent or more growth rate,
  • $40M-$79M in annual revenue with 40 percent or more growth rate,
  • $80M – $99M in annual revenue with at least 20 percent growth rate, or
  • $100M+ in annual revenue with at least 15 percent growth rate

“We’re thrilled to have identified 26 more world-class tech firms in Canada’s innovation economy to add to our 2022 Team True North roster,” said Chris Albinson, CEO and president at Communitech. “Our tech ecosystem’s ability to weather current economic challenges is due to their impressive growth and an unwavering commitment to Tech For Good, which is a distinct global advantage for Canada.”

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