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Canvass Ai Accelerates Expansion With Completion Of Us $14.23 Million Series A Funding

Aug 09, 2022over 3 years ago

Amount Raised

$14.2 Million

Round Type

series a

DenverMachine Learning

Description

Canvass Analytics Inc. ("Canvass AI"), a leader in industrial AI software, today announced the completion of its previously reported Series A financing with an extension of US $7.73 million, led by Yamaha Motors Ventures and a CDN $5.7 million (US $4.43 million) repayable loan from the Government of Canada, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). The Series A extension will fuel the company's mission to empower industrial workforces to drive impact across their operations with the power of Industrial AI.

Company Information

Company

Canvass AI

Location

Denver, Colorado, United States

About

As previously announced, the FedDev loan will enable the company to expand its diverse and inclusive workforce in Ontario as the company accelerates its growth with industrial companies who are rapidly adopting and scaling AI across their operations."Our 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 Canvass AI platform provides industrial engineers with easy-to-use AI solutions to apply and scale across their operations that address their operational challenges, without requiring coding or data science expertise. Today, leading companies use Canvass AI to reduce carbon emissions and waste, improve yields, optimize facility operations, improve asset reliability and integrity, and optimize energy consumption. About Canvass AI Canvass AI is a leading industrial AI software provider that puts the power of AI in the hands of industrial workforces to solve day-to-day operational problems. Some of the world's largest companies use Canvass AI's patented Industrial AI Platform to reduce carbon emissions and waste, improve yields, and optimize facility operations. Backed by Alphabet and Yamaha Motor Ventures

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