Halifax-based Volta Labs is tripling in size with a $2.25 million investment from the Nova Scotia government.
Volta will use the funding to increase its space in the Maritime Centre office building from 20,000 to 60,000 square feet. The expansion will include more office space for startups of all stages, and a new event space on the Barrington Street level.
The investment will also support operational costs related to the expansion over the next three years.
Nova Scotia Premier Stephen McNeil announced the investment at Volta today. “Innovation is key to our economic future,” said McNeil. “This funding will give more entrepreneurs in Nova Scotia the support they need to start great companies. It will also help our vibrant startup community continue to grow. Ultimately, that means more jobs and opportunity for young Nova Scotians.”
Since its launch in 2013, Volta Labs has seen over 50 early-stage companies working out of the space, and its companies have raised over $50 million in funding. Seventy percent of its companies are still in business, and Volta companies employ over 290 staff.
“This investment will help us support entrepreneurs and create a home for the technology community in Halifax,” said Jesse Rodgers, CEO of Volta Labs. “As Volta expands and our startup community grows, we will continue to be the place where high-potential founders come together, learn from each other, and build globally competitive companies. This is key to building Halifax’s innovation district.”