Two Canadian startups and one accelerator program have recently announced new funding to fuel their growth. Here’s the latest on who raised, how much, from whom, and what they’ll be putting the new funds toward.
Zetane receives $350,000 from Quebec government
Pointe-Claire-based startup Zetane Systems has received $350,000 from the Quebec government to support a joint project with defence contractor Rheinmetall.
The funding was provided through Investissement Quebec (IQ), under the Ministry of Economy and Innovation, and is non-refundable financing, contributing to the costs to support the first phase of the project. Rheinmetall is contributing the remainder of the project’s estimated cost of $750,000.
The project aims to establish AI-powered predictive maintenance solutions, allowing Rheinmetall Canada to better serve its clients with more efficient, accurate, and less costly maintenance services and supply more performant transport vehicles.
Incorporated in 2016, Zetane specializes in AI and provides software that integrates into existing AI platforms, while providing a visual and intuitive workspace for building technology products in machine learning.
LodgeLink to receive up to $3 million from OCIF
Calgary-based LodgeLink will receive up to $3 million from the Opportunity Calgary Investment Fund (OCIF). The funding is designed to support LodgeLink in creating 300 tech jobs over five years, including software developers, and systems and data analysts.
In addition to the tech jobs, LodgeLink expects to hire an additional 300 workers in non-tech jobs in Calgary, as well as another 160 workers in various locations.
Founded in 2016, LodgeLink’s digital B2B workplace travel platform connects hotels, remote camps and lodges, ground transportation and airlines, duty of care, and other service providers with businesses seeking crew-transportation solutions. The startup’s platform facilitates workforce logistics management to provide visibility and cost control, with the goal of creating efficiencies for accounts payable technologies and consolidating payments for an organization’s crew travel.
LodgeLink is forecasting it will require almost 50,000 square feet of office space in downtown Calgary to accommodate the expected 600 additional staff. The startup was incubated inside Calgary’s Black Diamond Group.
“LodgeLink is applying innovative technology to transform workforce travel,” said Trevor Haynes, CEO LodgeLink and chairman and CEO of Black Diamond Group. “In partnership with OCIF, we’re recruiting and relocating strong tech-based talent while also developing local expertise in Calgary to further develop and build the capabilities of the LodgeLink platform, which is a key aspect for our rapid growth and continued success.”
Saskatoon-based Co.Labs receiving $2.08 million from feds
Saskatoon-based Co.Labs has received $2.08 million from the federal government to support its digital technology accelerator and incubator programming. The funding is being provided by Western Economic Diversification Canada.
Founded in 2017, Co.Labs has worked to increase venture capital investment to Saskatchewan technology companies since its inception and helps support new companies start up and scale up.
“WD’s initial investment in Co.Labs vastly accelerated the growth of Saskatchewan’s tech ecosystem,” said Jordan Dutchak, executive director of Co.Labs. “The 121 technology start-ups we supported over the last three years have together generated over $15 million in revenues, attracted $9 million in private investment, and created more than 250 new jobs. Building on this progress, the next three years of WD support will not only enable Co.Labs to expand its programming, but also ensure that innovative local tech start-ups are at the heart of our province’s economic recovery.”
Image source LodgeLink via Facebook