FedDev Ontario invests $2.4M in Signifi Solutions
by CM Staff
With FedDev Ontario support, Signifi will expand its capacity to manufacture these self-serve vending kiosks to meet growing domestic and global demand for safer shopping.
MISSISSAUGA — Signifi Solutions Inc., a woman-led developer and provider of automated retail solutions, is receiving a FedDev Ontario repayable contribution of nearly $2.4 million to scale up operations at its Mississauga facility.
As the demand for digital solutions and automated services increase as a result of the pandemic, Signifi is attempting to seize opportunities for growth and providing these alternatives with its automatic dispensing solutions, used by major retailers to offer easier, contactless order pick-up. With FedDev Ontario support, Signifi will expand its capacity to manufacture these self-serve vending kiosks to meet growing domestic and global demand for safer shopping. The company will also implement new vertical automation equipment and adapt lean processes, optimizing its current production space to increase productivity.
Signifi expects to create 47 highly skilled jobs in management, finance, software development, control board assembly and engineering in Mississauga—more than doubling the size of its team. In addition, FedDev Ontario’s investment will leverage an additional $7.1 million in private sector investment and increase spin-off benefits for vendors that are part of the local supply chain.
“Project scale-up has allowed Signifi to move forward on plant upgrades and new hires that are critical for growth. Signifi is now able to execute on opportunities that would have not been possible without this support.” said Shamira Jaffer, Chief Executive Officer, Signifi Solutions Inc.
In 2019, FedDev Ontario invested $100,000 in Signifi Solutions Inc. through the Women Entrepreneurship Fund (WEF) to establish an Enterprise Resource Planning system, a health and safety program, an assembly and tooling area, and to set up new manufacturing and engineering processes as well.