Funding to leverage $1.7M private sector investment, create 12 jobs
TORONTO—Canadian tech firm Matter and Form Inc. has launched a project to develop and commercialize a new 3D scanner with funding from the federal government as well as two private investors.
Based in Toronto, the company’s first generation scanner allowed customers to scan small objects and create computer models that could be reproduced with a 3D printer. Now working on the second generation of its technology, Matter and Form will take advantage of an $858,560 contribution from FedDev Ontario to bring its new product to market.
“Canada has the opportunity to establish itself as a powerhouse in 3D and other emerging technologies,” Drew Cox, the company’s CEO, said. “Supporting companies like Matter and Form Inc. shows the government’s commitment to ensuring the success of Canadian businesses that will lead us into the future.”
With the federal assistance in place Sandstone Asset Management and the MaRS Investment Accelerator Fund have also agreed to provide up to $1,717,120 in funding for the project.
The development project is expected to create 12 new jobs.