Tech company Worximity obtains $14M in financing

Worximity, a Quebec-based technology company, recently closed a new $14 million dollar financing round. The company obtained the amount from Investissement Québec, Fonds de solidarité FTQ and Marel.

Manufacturing companies face major challenges, including labour shortages, rapid inflation and rising raw material prices.

Worximity reduces the impact of these manufacturing challenges with their algorithm and digital technologies that measure performance in real time to identify, quantify and prioritize improvement opportunities often hidden in production data.

“Manufacturers are currently caught between unprecedented cost increases, staff shortage headaches to support orders and retailers who refuse to accept any price increase. With our technologies, we allow companies to produce more with the same equipment and the same staff. This impacts directly profitability, competitiveness and the ability to deliver orders on time. I am very proud of our teams, who are creating technologies, which help the Quebec economy face the major challenges of today and tomorrow,” said Yannick Desmarais, founder and CEO, Worximity.

This investment will support Worximity’s growth, as well as fund research and development to keep improving the technology and the products for Worximity’s customers.