Empowering industrial workforces with AI to improve profitability and achieve net-zero carbon targets.
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.
“As demonstrated in Budget 2022, this government believes that protecting our environment and fighting climate change is not only the right thing to do for the planet but also for our economy. The Government of Canada is proud to support tech companies like Canvass AI in the important work they are doing to reduce the environmental impact of major industries as we move toward net-zero emissions.”
– The Honourable Helena Jaczek, Minister responsible for the Federal Economic Development Agency for Southern Ontario
“The Government of Canada and FedDev Ontario are proud to support Toronto-based Canvass AI as it works to reduce the environmental impact of the manufacturing industry within Canada and globally with its innovative AI software. Today’s investment will create 45 new jobs in Toronto, while positioning Canvass AI for long-term success.”
– Julie Dzerowicz, Member of Parliament
“At Canvass AI, our goal is to transform the industrial sector into a tech-driven industry that exceeds its productivity targets while minimizing the environmental impact. This FedDev Ontario support will help Canvass AI to scale up our team in Toronto, advance innovation through our Industrial AI technology roadmap, and accelerate our growth strategy as we enter new markets across the globe.”
– Humera Malik, CEO, Canvass AI