Worximity Technology Inc.

Worximity Technology Inc.

December 02, 2015 09:45 ET

Worximity Technology Inc. Receives $2M in Funding to Continue Exporting its Smart Factory Technologies

MONTREAL, QUEBEC--(Marketwired - Dec. 2, 2015) -

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Worximity Technology Inc. has successfully completed a search for funding, receiving $2M from W Investments and the Fonds de solidarité FTQ. The Montreal-based company specializes in monitoring manufacturing production in real time using its mobile Tileboard application and smart sensors. It will use this capital investment to increase the size of its computer development team to pursue opportunities in the U.S. market and take developing new technologies one step further so factories can become even smarter.

Worximity Leads Industry 4.0

Since its start in 2011, Worximity has been striving to develop connectivity solutions to help factory managers and team members monitor their production in real time. This digitizing of manufacturing production, which began in Germany and has now expanded to manufacturing operations around the world, is known as the fourth industrial revolution. In a manufacturing context, the Industrial Internet of Things collects data and sends it to the Tileboard application, which is an authentic, real-time dashboard, compiling data from a range of industrial equipment. Ongoing production monitoring and alerts created according to the client's standards guarantee that downtimes and decreases in production rates can be addressed immediately. Moreover, the analytical suites created by Worximity keep its clients a step ahead in the marketplace. By bringing tablets into the manufacturing sector, Worximity has enabled teams to work together more effectively and managers to increase productivity in their operations.

This new investment will help the company enhance its connectivity solutions to better serve its current clients and to seek new markets throughout North and South America.

Knowledge is Power

"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," explains Worximity founder Yannick Desmarais.

"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. 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," adds Yannick Desmarais.

"Thanks to its dynamic team, Worximity is a company that knows how to use technology to help manufacturers. 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," says Alain Denis, Senior Vice-President for Innovation at the Fonds de solidarité FTQ.

Special Thanks

Worximity would like to recognize the excellent work of its team, which conceived and created Tileboard, and made it the outstanding tool it has become today. The company would also like to thank its long-standing clients for their trust. Their ever-changing needs are the motor that drives and motivates the firm to excel and come up with innovative and even more efficient solutions.

About Worximity

Worximity is located in the Cité du Multimédia district in Montreal and employs some fifteen people. Its technologies are currently in use on more than 250 production lines in North America. For more information, visit www.worximity.com.

About W Investments

W Investments is a private investment firm that targets businesses with high growth potential. Taking an entrepreneurial approach, the partners guide companies in their development, maximizing their strengths and assets. A springboard for talent, W Investments ensures the next generation of entrepreneurs, guarantees growth and brings added value that makes all the difference. For more information, visit www.winvestments.ca.

About the Fonds de solidarité FTQ

The Fonds de solidarité FTQ helps drive our economy. With net assets of $11.1 billion as of May 31, 2015, the Fonds is a development capital fund that channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and further Québec's development. The Fonds is a partner, either directly or through its network members, in more than 2,550 companies. With 610,605 shareholder-savers, the Fonds helps create, maintain and protect more than 176,000 jobs. For more information, visit www.fondsftq.com.

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