Worximity Technology, a Montreal-based company focusing on Industry 4.0, announces a major new investment of $5 million by Marel, a global provider of advanced food processing equipment, systems, software and services to the poultry, meat and fish industries.
The announcement comes on the heels of a renewed vote of confidence from Marel’s current investors in the form of an additional $1.25 million investment.
“The strong compatibility of our technologies, as well as the simplicity of installation and use of our products has facilitated the process,” says Yannick Desmarais, found and CEO of Worximity. “Our two companies are well regarded in the food protein processing industry and Marel has a strong understanding of the challenges related to their investments. Their knowledge of international markets will help us accelerate our growth.”
This $6.25 million Series A financing will be used to increase the pace of development of technological innovations and to accelerate the conquest of international markets.
This major partnership with Marel was only natural. Before launching his company, Desmarais was already working in the food processing industry, where he was responsible for the ongoing improvement of several factories and knew the main equipment manufacturers in the food industry quite well.
“With its real-time data collection and analytics cloud solutions, Worximity is a highly relevant partner for food processors looking to optimize their production using digital technologies,” says Arni Sigurdsson, executive VP of strategy and development, Marel. “Worximity’s scalable solutions can be used by a wide range of food processors. It complements Marel’s comprehensive software solution, making the partnership a great opportunity to drive growth as food producers continue to harness the power of data and analytics to improve their operations.”
Marel developed Innova, a food production management software that provides full traceability throughout the production process and helps food producers improve performance and enhance productivity, and is compatible with the Worximity Tileboard technology. Marel employs more than 6,000 employees in more than 30 countries and invests approximately six per cent of revenues in innovation every year.
The technology offered by Worximity plays a key role in the Fourth Industrial Revolution, as it connects all equipment and employees in processing facilities, allowing for real-time performance measurement and constant improvement in profitability allowing users to remain competitive in relevant markets. Since its founding, Worximity has collaborated with customers from around the world, including Barry Callebaut, BIC, Grupo Nutec, Daunat, Dessaint Traiteur, Fleury Michon, Royal Canin and Ozpak.
The Worximity Technology team is comprised of 25 knowledge-based employees, and includes software developers, engineers, data scientists, business analysts and specialists in artificial intelligence. The company plans to double its workforce by the end of 2020.
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