- Recipient: Laurus Technologies, Ranovus, Altis Labs
- Region: Southern Ontario
"This investment from the Government of Canada will allow Larus to accelerate the development of our AI SaaS platform for the CPG retail industry. This project will leverage highly skilled Canadian talent to help Larus become a global market leader in enterprise software optimizing the modern workplace."
Artificial intelligence (AI) has the potential to transform how we work and live, and businesses in Canada are using AI technologies to fuel economic growth and create job opportunities across all facets of the Canadian economy. As the adoption of AI solutions continues to grow in critical sectors such as healthcare, agriculture and manufacturing, FedDev Ontario is committed to supporting businesses and organizations in southern Ontario as they develop and bring their groundbreaking products to market and enhance their competitiveness on the global stage. Since 1995, Ottawa-based Larus Technologies Corporation has been at the forefront of developing AI and machine learning (ML) applications for retailers and businesses in the e-commerce, supply chain and business-to-business (B2B) markets. With its advanced Software as a Service (SaaS) solutions, Larus Technologies utilizes AI and ML to help retailers and businesses achieve optimal performance.
In June 2024, Larus Technologies received $1.5-million investment to support the development and implementation of its AI/ML SaaS solutions. With this investment, Larus is expanding its business into global markets, optimizing supply chains and scaling its end-user experience to deliver optimal business performance solutions for multi-industry customers. Supporting businesses like Larus Technologies, which are focusing on technological innovation and growth, is key to Canada's commitment to build a stronger, more sustainable and more secure economy—for everyone.
As the capabilities and scale of deployment of AI increase, its expansion into manufacturing is paving the way for intelligent processes and enhanced competitiveness. Since 2012, Ranovus has been supporting manufacturers with high-performance solutions that help enhance productivity and reduce costs in Canada's rapidly evolving semiconductor manufacturing industry. Semiconductors play an important role in driving technological advancement, enabling the modern smart technologies we depend on in our phones, vehicles and appliances. Ranovus is advancing semiconductor technology with its single-chip ODIN® optical engine which enables faster data transmission and improved connectivity for data centres.
With FedDev Ontario funding of $4.8 million announced in 2024, Ranovus is scaling-up production of its ODIN chip with the addition of a new clean room manufacturing environment, to meet the demands of its growing customer base. With its technological innovations such as the ODIN chip, Ranovus is positioning itself and Canada as a key player in this semiconductor sector.
"Ottawa is one of the largest tech hubs in Canada, largely due to our competitive and cutting-edge businesses. With [this] repayable investment […] we are capitalizing on our bright minds and skilled hands and improving the way Canadians and their families live, work and do business."
The momentum of AI continues with advancements in healthcare technology, driven by companies like Altis Labs, a Toronto-based computational imaging company transforming healthcare technology. The company's Image-based Prognostication (IPRO) AI tool studies the correlation of features from millions of images, and applies this learned information to the screening and monitoring of various diseases, in order to produce more accurate outcome predictions in clinical and patient care environments. A $100,000 investment through the FedDev Ontario-supported Southern Ontario Pharmaceutical and Health Innovation Ecosystem (SOPHIE) helped Altis evaluate and validate its innovative AI solution and plan for future developments in breast cancer screening.
FedDev Ontario is pleased to support southern Ontario AI companies like Larus Technologies, Ranovus Inc., and Altis Labs that are developing and adopting innovative AI solutions to create a better future for Canadians. These companies are fostering technological advancements to improve efficiency across sectors, accelerate scientific discoveries, create more skilled jobs and prioritize clean technology solutions that align with Canada's commitment to a greener economy. The global race to scale up and adopt AI is on, and Canada's role and global leadership in this emerging sector will give innovators more opportunity to unlock economic potential and enhance the lives of Canadians.