April 22, 2022 - Toronto, Ontario
FedDev Ontario invests over $5.7 million in Canvass Analytics Inc. to expand and create 45 jobs
As Canada recovers from the global pandemic, the Government of Canada is investing in innovative technologies and businesses that grow a cleaner economy for the future. Canadian companies are advancing our global leadership in the fast-growing clean technology market and helping to create good jobs for Canadians.
Today, on behalf of the Honourable Helena Jaczek, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), Julie Dzerowicz, Member of Parliament for Davenport, announced an investment of over $5.7 million for woman-led artificial intelligence (AI) company, Canvass Analytics Inc. (Canvass AI).
This investment, through the Jobs and Growth Fund, will allow Canvass AI to expand and accelerate the commercialization of their AI software platform, create 45 new jobs and help position Canvass AI for future growth.
Established by Founder and CEO Humera Malik in 2016, Canvass AI is a leading AI software provider, whose platform is used by large industrial companies in the automotive, chemicals, energy, food and beverage, and metals and mining sectors. The AI software allows manufacturers to monitor and predict future output so that engineers can optimize their processes, reduce water consumption and CO2 emissions.