Toronto CAD firm nabs $500K federal loan
Developer Tri-D Technologies will use the money to scale-up operations for its ExactFlat SolidWorks add-on applications
The loan was awarded by awarded by the Eastern Ontario Community Futures Development Corporation Network Inc. (EOCFDC Network) through the Southern Ontario Fund for Investment in Innovation (SOFII).
“Tri-D Technologies continues to gain momentum and win customers with world-leading technology. Funding from SOFII is helping us accelerate our growth plans and expand the way in which our innovations are brought to market to both local and international customers,” said Eaton Donald, CEO of Tri-D Technologies.
Toronto-based Tri-D will use the cash to launch of a comprehensive sales and marketing campaign, product enhancements and the integration of additional CAD capabilities. Tri-D’s ExactFlat software is an add-in for SolidWorks design software. ExactFlat specializes in automating the CAD design and development of products covered in fabrics or made from composites.
“Our Government recognizes that in order to prosper, we need to be supportive of the potential that southern Ontario’s businesses possess. The loan for Tri-D Technologies via the Eastern Network demonstrates how we are investing in innovative companies that will create products and solutions for consumers all over the world,” said Gary Goodyear, Minister of State for FedDev Ontario
Minister Goodyear and Bernard Trottier, Member of Parliament for Etobicoke-Lakeshore, paid a visit to the offices of Tri-D Technologies and observed a demonstration of the company’s Exact Flat software.
Following the visit, the Minister and MP Trottier spoke to the South Etobicoke Industrial Employers Association, to outline federal funding opportunities available to help support the region’s businesses.
Launched by the Government of Canada in 2012, SOFII provides interest-bearing business loans valued between $150,000 to $500,000 to support innovation and growth in small- and medium-sized businesses across the region.