FedDev Ontario investment supports scale up of Toronto-based tech firm

From: Federal Economic Development Agency for Southern Ontario

News release

$1 million for Toronto firm to expand into new sectors and create 17 new skilled jobs

November 20, 2020 – Toronto, Ontario

Technology is key to developing new products and new business processes. Canada’s tech firms are harnessing the transformative power of digital technology to support skilled jobs and economic growth across industries, allowing our regions to be more resilient in the face of COVID-19.

Unlocking the potential for market growth and job creation

Today, Han Dong, Member of Parliament for Don Valley North, announced a FedDev Ontario investment of $1 million to support the scale-up of Advanced Opto-Mechanical Systems and Technologies Inc. (AOMS Technologies), a leading Canadian technology company based in Toronto. This announcement was made on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).

AOMS Technologies is working to scale-up, commercialize and adapt its patented fiber-optic and digital internet of things (IoT) platforms LumiRem, LumiCon, and LumiAPM, used widely across the environmental remediation sector, as it prepares for expansion into new markets, including the construction sector, with the vision of making smart construction sites a new reality.

The company’s data sensing technology is designed to withstand extreme industrial conditions in addition to being recoverable and reusable for future projects. Its cloud-based IoT solutions have been deployed successfully in a wide range of harsh environments including: corrosive environments; heavy industries; high voltage environments; difficult to access locations; extreme temperatures; and explosion-prone environments. The Lumi platforms are designed for the remote inspection of assets, buildings, civil infrastructures, and machinery equipment, enabling data to be obtained without stepping foot on a work site, which is beneficial in a social distancing environment as a result of COVID-19.

With FedDev Ontario support, AOMS Technologies expects to grow its revenue substantially over the next three years and create 17 skilled jobs across Toronto, primarily in the fields of Science, Technology, Engineering and Math (STEM). This investment supports the global scale up of a Canadian ICT firm in the fast-growing IoT ecosystem. 

Quotes

“AOMS Technology is an exciting local technology company and our Government’s investment is supporting the creation of 17 good jobs right here in Toronto. It is strategic investments like this that will enable businesses across the country to scale-up and grow into the post-pandemic economy.”
- Han Dong, Member of Parliament for Don Valley North

“AOMS Technologies is working hard to strengthen Canada’s position as a leader in Internet of Things solutions, while creating highly skilled jobs. FedDev Ontario’s investment will allow this Canadian, forward-thinking firm to enter new markets and compete in the evolving global Internet of Things movement. Our Government is working hard to implement numerous measures in support of businesses, organizations, communities and all Canadians as we navigate this uncertain time. By helping innovative businesses like AOMS Technologies, we are also helping Canada’s economy bounce back stronger.” 
- The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for the Federal Economic Development Agency for Southern Ontario

“We are very excited and grateful for this incredible financial support that will enable AOMS Technologies to scale up and expand in new markets. This funding will create an opportunity for us to develop innovative IoT products and contribute to the Ontario’s economic growth through hiring local talent.”
- Hamid Alemohammad, CEO, AOMS Technologies

Quick facts

  • AOMS Technologies was established in 2014 after its three founders met in graduate school at the University of Waterloo. Today, the company’s IoT solutions are recognized as the new industry standard in several sectors including construction and the environmental remediation industry.

  • AOMS Technologies’ industrial IoT platforms use patented technologies to help industries collect mission-critical data and generate insightful information to enhance efficiency, reduce operational costs, increase safety, and improve environmental sustainability. 

  • FedDev Ontario’s repayable contribution will leverage an additional $4.3 million in private investment.

  • Since November 2015, FedDev Ontario has invested over $432 million in 723 projects across the Toronto region.

Associated links

Contacts

Catherine Mounier-Desrochers
Press Secretary, Office of the Minister of Economic Development and Official Languages
catherine.mounier-desrochers@canada.ca

Media Relations
FedDev Ontario
fdo.mediarel-relmedias.fdo@canada.ca
Toll Free: 1-866-593-5505

Stay connected

Website: www.FedDevOntario.gc.ca

Subscribe to our news updates and follow us on Twitter @FedDevOntario

Subscribe to our Southern Ontario Spotlight monthly newsletter and follow us on Twitter, Facebook, Instagram and LinkedIn for more information on how we are growing businesses, cultivating partnerships and building strong communities in southern Ontario.

Page details

Date modified: