Worximity’s $3.5M to Support Digital Development for Manufacturers

The Minister of Economy and Innovation and the Minister in charge of Regional Economic Development, Mr. Pierre Fitzgibbon confirms the allocation through the equity of Investissement Québec and in the form of preferred shares of a financial contribution of US$3.5 million to Worximity Technologies, a Montreal company operating in Industry 4.0, which just completed a $14 million funding round. Goal: To support the growth of this dynamic company and the development and marketing of its innovative digital technologies.

“In addition to improving the productivity of our small and medium-sized enterprises, digital technologies are an effective response to labor shortages. With its cutting-edge solutions, Worximity will strengthen our government’s digital transformation efforts and enable Quebec manufacturers to perform better. ‘, according to Mr Fitzgibbon.

Worximity, founded in 2011, develops technologies based on machine learning and artificial intelligence to improve the efficiency of manufacturing companies. These technologies focus in particular on measuring performance in real time and identifying, through algorithms, opportunities for improvement often hidden in production data, thus allowing responses to production challenges.

“Manufacturers are currently stuck between unprecedented cost increases, the headache of finding staff to support order books, and retailers refusing any price increase. With our technology, we enable them to produce more with the same equipment and the same people. This directly affects their profitability, their competitiveness and their ability to complete orders on time. I am very proud of our teams that are creating technologies that help the economy of Quebec solve the big problems of today and tomorrow! ”, says Mr. Yannick Desmarais, founder and CEO of Worximity.

The technology offered by Worximity can play a key role in a company’s industrialization, as it connects all the equipment and employees of factories, allowing them to measure performance in real time and always improve profitability while remaining competitive in their market. .

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