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Worximity Technology Raises $6.25 Million From Investors and Signs a Partnership with Marel, a Global Leader in High-Tech Food ProcessingMONTREAL, Aug. 28, 2019 /CNW Telbec/ - Worximity Technology, a Montreal-based company focusing on Industry 4.0, announces a major new investment of $5 million by Marel, a leading global provider of advanced food processing equipment, systems, software and services to the poultry, meat and fish industries, and a renewed vote of confidence from its current investors in the form of an additional $1.25 million investment. 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, Yannick Desmarais, CEO and founder of Worximity, 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. 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 TileboardTM technology. Marel employs more than 6,000 employees in more than 30 countries and invests approximately 6% of revenues in innovation every year. A proven technology that is simple, scalable and reliable 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. Quotes "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. 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." - Arni Sigurdsson, Executive Vice President of Strategy & Development, Marel. "Worximity fits perfectly into our strategy of supporting start-ups that help Quebec businesses increase their productivity. In fact, many of our partners are already using their products. This investment will further accelerate the marketing of Worximity products and strengthen its position in the Industry 4.0 market." - Charles Sylvestre, Vice-President, Investments - Information Technology and Telecommunications, Fonds de solidarité FTQ. "We have been proud to support Worximity's growth for several years now, and are once again demonstrating our confidence by participating in this major financing round. This new partnership with Marel enables the company to accelerate its technological development and strategic positioning in the international Industry 4.0 market." - Nicolas Bélanger, Managing Partner, W Investments. About Worximity Technology Inc. About Marel About W Investments About the Fonds de solidarité FTQ View original content to download multimedia:http://www.prnewswire.com/news-releases/worximity-technology-raises-6-25-million-from-investors-and-signs-a-partnership-with-marel-a-global-leader-in-high-tech-food-processing-300908360.html SOURCE Worximity Technology Inc. |