Today the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) announced more than $14 million towards the growth of eight GTA-based companies.
The goal of the funding is to help these companies grow digital and manufacturing solutions, move towards green operations, enhance data in healthcare settings and improve monitoring and tracking software. The funding also aims to create an additional 230 jobs across the GTA.
Today’s announcement was made in Toronto at an event hosted by two of the funding recipients, Cognota Inc. and Mero Technologies Inc..
Founded in 2015, Cognota, is a Toronto-based software company that provides AI-enabled learning applications. The company’s LearnOps platform helps customers manage and process its operational data in efficient and low-cost ways. Cognota Inc. is receiving over $1.9 million through the Jobs and Growth Fund to grow its learning software while also securing new sales and partnership opportunities in Canadian and U.S. markets. Cognota said this project will create 16 jobs.
“Growing a leading software company that is defining a new category is hard work and would be impossible without the support of our people, partners, investors and the contributions received from the Canadian Government,” said Ryan Austin, founder and chief executive officer of Cognota. “This funding will allow us to give back and do our part in growing the economy while creating new jobs. With this funding, Cognota is well positioned to accelerate its business plan and scaling its strategy.”
Established in 2018, Mero Technologies Inc. (Mero), a Toronto-based sensor and analytics company, offers smart cleaning solutions for commercial buildings that help measure building occupancy and cleanliness. Mero is receiving $1.5 million to advance the commercialization of its smart cleaning platform. The project will create 30 skilled jobs, as it plans to expand further into the Canadian and U.S. markets.
“Supporting Canadian innovators as they modernize and develop new processes, technologies and products to improve the way Canadians live and do business is critical,” said The Honourable Filomena Tassi, minister responsible for FedDev Ontario. “Today’s over $14-million investment from the Government of Canada for eight GTA businesses highlights our commitment to creating jobs, investing in clean technologies and growing the economy.”