A Sudbury-based technology company serving the mining industry is receiving $250,000 to further develop its automated inventory management system.
FORTAI is the first company to get backing through the Sudbury Catalyst Fund, a $5-million seed capital co-investment fund that was launched earlier this year to help grow scalable tech startups.
The company will use the funds to continue development on ADMMIT, an autonomous mobile inventory system, which tracks, delivers and manages the movement of materials in real time.
Following the onset of COVID-19, the company adapted the technology to create the Sanitation SmartCube, which inventories and sanitizes personal protective equipment.
In a news release, FORTAI president Trang Tran-Valade expressed gratitude for the contribution.
“The investment from the Sudbury Catalyst Fund, combined with matching funds from local angel investors, will allow FORTAI to accelerate our growth and quickly reach new markets,” she said in the Aug. 6 release.
The Sudbury Catalyst Fund is administered by the Nickel Basin Federal Development Corporation, in collaboration with the NORCAT innovation centre, the Greater Sudbury Development Corp., and FedNor.