Worximity receives $14 million in funding to continue expanding its digital technology offerings
May 27, 2022 | By Manufacturing AUTOMATION
Quebec-based technology company Worximity closed a new $14 million dollar financing round. The company obtained the amount from Investissement Quebec. The Fonds de solidarite FTQ and the company’s strategic investor Marel have also participated in this financing round, renewing their trust in Worximity.
This investment will support Worximity’s growth, as well as fund research and development to keep improving the technology and the products for Worximity’s customers.
Worximity’s algorithm and digital technologies offer manufacturers the option to measure performance in real-time to identify, quantify and prioritize improvement opportunities hidden in production data. Its solutions are aimed at helping manufacturers do more with the same number of employees, without using additional energy and equipment.
“Manufacturers are currently caught between unprecedented cost increases, staff shortage headaches to support orders and retailers who refuse to accept any price increase. With our technologies, we allow companies to produce more with the same equipment and the same staff. This impacts directly profitability, competitiveness and the ability to deliver orders on time. I am very proud of our teams, who are creating technologies which help the Quebec economy face the major challenges of today and tomorrow,” said Yannick Desmarais, founder and CEO of Worximity.
Worximity’s technologies are based on automatic data collection, real-time operations monitoring, automated analytical reports, and preventive and predictive advice using machine learning and artificial intelligence. These technologies are part of the Manufacturing 4.0 revolution.
The company’s clients currently include major players in the manufacturing industry across Canada, the United States, Mexico and Europe.
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