Worximity Technology is proud to announce a major partnership with Marel, a leading global provider of advanced food processing equipment, systems, software, and services to the poultry, meat, and fish industries. The new partnership includes an investment by Marel of $5 million in Worximity and its innovative platforms that are fundamentally changing the way food manufacturers measure and optimize production.
In addition to Marel’s investment, Worximity has received another $1.25 million of funding from our current investors. The total $6.25 million of Series A financing will be used to increase the pace of development of technological innovations and to accelerate the conquest of international markets.
A Perfect Partnership
Worximity’s partnership with Marel is a natural fit. Before launching Worximity, CEO and founder Yannick Desmarais was already working in the food processing industry. His prior responsibilities included the ongoing improvement of several factories, and he came to know the main equipment manufacturers in the food industry quite well.
Marel is the developer of Innova, a food production management software that provides full traceability through production and helps manufacturers improve performance and enhance productivity. Innova is compatible with Worximity’s TileboardTM technology.
“The strong compatibility of our technologies, as well as the simplicity of installation and use of our products, has facilitated the process,” says Desmarais. “Our two companies are well-regarded in the food protein processing industry, and Marel has a strong understanding of the challenges related to their investments. Their knowledge of international markets will help us accelerate our growth.”
Worximity’s technology plays a key role in Industry 4.0—the fourth industrial revolution—by connecting all equipment and employees in processing facilities. This allows for real-time performance measurement and constant profitability, thus helping users remain competitive in relative markets. Since Worximity’s founding, it has collaborated with customers from around the world, including Barry Callebaut, BIC, Viau Foods, Grupo Nutec, Daunat, Dessaint Traiteur, Fleury Michon, Royal Canin, and Ozpak.
“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,” says Arni Sigurdsson, Marel’s executive vice president of strategy and development. “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.”
A Vote for the Future
The additional funding from Worximity’s current investors signals a renewed vote of confidence in its technology and business strategy. Worximity currently comprises 25 knowledge-based employees—including software developers, engineers, data scientists, business analysts, and specialists in artificial intelligence—and plans to double its workforce by the end of 2020.
“Worximity fits perfectly into our strategy of supporting startups that help Quebec businesses increase their productivity,” says Charles Sylvestre, vice president of investments, information technology, and telecommunications at Fonds de solidarité FTQ. “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.”
Nicolas Bélanger, managing partner at W Investments, says, “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.”
With new partnerships underway and with the added support of our current investors, Worximity is poised for the next exciting steps in its technology and business strategy.