What is Worximity?
Founded in 2011, Worximity Technology Inc. is an industrial IoT company specializing in manufacturing analytics. The company provides innovative technologies for automatic data collection, real-time monitoring, and analytical insights powered by machine learning and artificial intelligence. Worximity has a proven track record, having served over 200 customers and contributing to the performance improvement in more than 1,200 projects globally.
How much funding has Worximity raised?
Worximity has raised a total of $20.7M across 4 funding rounds:
Private Equity
$2M
Series A
$6.3M
Debt
$1.5M
Series B
$10.9M
Private Equity (2015): $2M with participation from W Investments and Fonds de solidaritu00e9 FTQ
Series A (2019): $6.3M led by W Investments, Marel, and Fonds de Solidarité FTQ
Debt (2020): $1.5M supported by CIBC
Series B (2022): $10.9M featuring Marel, Fonds de Solidarité FTQ, and Investissement Quebec
Key Investors in Worximity
Marel
Marel, founded in 1977 and headquartered in Iceland, is a key player in providing equipment, systems, and software to the food processing industries, suggesting a strategic interest in operational efficiency and data-driven improvements.
Fonds de Solidarité FTQ
Fonds de Solidarité FTQ, established in 1983, is a Canadian venture capital firm focused on supporting startups and early-stage ventures, indicating a commitment to fostering innovation and growth in technology companies.
Investissement Quebec
Investissement Quebec, founded in 1998, is a provincial entity dedicated to driving investment and economic development in Quebec, supporting businesses with financial solutions to foster growth and job creation.
What's next for Worximity?
The recent major strategic investment in Worximity, following its Series B round, indicates a strong growth trajectory and market confidence. This capital infusion is likely to fuel further expansion of its advanced manufacturing analytics solutions, enhancing its predictive insights and AI capabilities. The company is well-positioned to leverage this backing to deepen its market penetration and continue its global project delivery.
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