Ottawa-ON, July 2, 2024
The support of businesses as they evolve, expand, and contribute to the development of futuristic AI solutions, is integral to Canada’s economic growth. This support is not just about the present but also about building a strong foundation for the future workforce. Businesses, like Larus Technologies, that are focusing on technological innovation, inclusivity, and growth, are key players in shaping the future workforce.
On June 24, 2024, the Honourable Jenna Sudds, Minister of Families, Children and Social Development and Member of Parliament for Kanata–Carleton, along with Yasir Naqvi, Parliamentary Secretary to the Minister of Health and Member of Parliament for Ottawa Centre, announced a repayable investment of $1.5 million to Larus Technologies. This repayable Government of Canada investment, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), will help Laurus create jobs and expand its software development capacity through the development of a Software as a Service (SaaS) product, which the company will market and scale in the retail, e-commerce, and supply chain business-to-business (B2B) markets.
Headquartered in Ottawa, Larus Technologies is a leading AI software company delivering business performance solutions for multi-industry customers through AI/Machine Learning (ML) solutions. This investment will support the company’s improvements and scale its end-user experience. As a result, Larus Technologies will develop Intellectual Properties (IP) that will make it a stronger Ontarian and Canadian company, enabling it to compete globally.
The Government of Canada is unwavering in its commitment to bolstering businesses and organizations, fostering resilience, enhancing competitiveness, and generating jobs to cultivate a more inclusive economy. This commitment extends to investing in advanced and more dependable technologies, a testament to the government’s dedication to delivering superior digital services to Canadians.
Quotes
“Ottawa tech companies, including Larus Technologies, are leaders in the industry, supporting Canada’s place in growing the critical AI sector and helping to keep our place at the forefront of the world’s advanced economies. Together we are taking the necessary steps to enhance our digital solutions and create skilled jobs for Canadians.”
– The Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario
“Ottawa is one of the largest tech hubs in Canada, largely due to our competitive and cutting-edge businesses. With today’s investment we are capitalizing on our bright minds and skilled hands and improving the way Canadians and their families live, work and do business.”
– The Honourable Jenna Sudds, Minister of Families, Children and Social Development and Member of Parliament for Kanata–Carleton
“This investment from the Government of Canada will allow Larus to accelerate the development of our AI SaaS platform for the CPG retail industry. This project will leverage highly skilled Canadian talent to help Larus become a global market leader in enterprise software optimizing the modern workplace.”
– George Di Nardo, President and CEO, Larus Technologies
About Larus Technologies
Based in Ottawa, Canada, Larus Technologies (https://larus.com) is a Canadian software company specializing in Artificial Intelligence (AI), Machine Learning (ML), Big Data Analytics, and Decision Support Systems (DSS). Larus is comprised of three core business areas: Data Fusion and Analytics Solutions, including the patented Total::Insight™ DSS, the Total::Perception™ Systems Simulation Engine (SSE) and the Total::Vision™ Video Analytics Solution (VAS), Data Science and Engineering Consulting, primarily in the areas of Public Security, Defense and Retail/Supply Chain and Research and Engineering, focusing on innovations in advanced AI/ML for various sectors. Larus Technologies is renowned for its expertise in developing mission-critical advanced solutions requiring multi-sensor data collection, aggregation, exploitation, fusion, and analytics.
About FedDev Ontario
For 15 years, the Government of Canada, through FedDev Ontario, has worked to advance and diversify the southern Ontario economy through funding opportunities and business services that support innovation, growth and job creation in Canada’s most populous region. The Agency has delivered impressive results, which can be seen in southern Ontario businesses that are creating innovative technologies, improving productivity, growing revenues, creating jobs, and in the economic advancement of communities across the region. Learn more about the impacts the Agency is having in southern Ontario by exploring our investment profiles, our Southern Ontario Spotlight, and FedDev Ontario’s Twitter, Facebook, Instagram and LinkedIn.
