Connect with us

Technology

SCALE AI announces a major financing round with more than $96M in investments supporting 22 AI projects

Published

on

MONTREAL, June 4, 2024 /CNW/ – SCALE AI, Canada’s AI Global Innovation Cluster, is announcing a major financing round with $96 million in total investments to support 22 artificial intelligence (AI) projects in key sectors such as life sciences, retail, manufacturing, transportation and logistics, and agriculture. Each initiative announced today aims to enhance efficiency, safety, and operational excellence thanks to AI-powered services and solutions, further advancing applied AI expertise in the country, to the benefit of the entire Canadian economy.

In a concerted effort to elevate national productivity and tackle Canada’s most pressing societal and economic challenges, AI emerges as a powerful tool to enhance our resource management. The projects selected by the SCALE AI team have been chosen for their potential to deliver concrete economic and human benefits and intellectual property advancements for the players involved and for the Canadian AI ecosystem. From improving supply chain logistics to advancing healthcare outcomes, the technological advances resulting from these projects are set to redefine industry standards and create tangible benefits for businesses and consumers alike.

This is one more step towards the creation of products by Canada’s leading AI providers to accelerate the adoption of AI products here and internationally. By focusing on SMEs, SCALE AI addresses the importance of stimulating domestic AI demand and reinforcing Canadian AI sovereignty amidst international competition.

The Honourable François-Philippe Champagne, Canada’s Minister of Innovation, Science and Industry, says: “Artificial intelligence is one of the greatest technological transformations of our age, and the variety of projects being announced today demonstrates why the Canadian AI ecosystem is among the best in the world. These projects are providing Canadians with the tools they need to harness the power of AI, while ensuring the technology is safe and secure.”

Julien Billot, CEO, SCALE AI, explains: “The Scale AI team has diligently crafted a suite of promising use cases within our AI ecosystem, fortifying our prowess and propelling Canada to the forefront of the global AI arena. Our initiatives not only showcase our innovative spirit but also signal a future rich with potential, as we continue to unlock groundbreaking opportunities in artificial intelligence.” 

Hélène Desmarais, Co-Chair of the Board of Directors, SCALE AI, adds: “The projects supported by SCALE AI are not just about technological advancement; they’re a catalyst for job creation and economic growth, opening up new opportunities for skilled employment in the Canadian AI sector. We are proud to be the best ally for accelerating the adoption of AI by both large and small Canadian companies, and we envision a future where artificial intelligence not only drives economic growth but also fosters an inclusive and innovative society.”

22 new projects representing investments of $96 million

To learn more about the projects, click here.

→ NavTrax: AI-enabled forklift automation and collision avoidance

Partners: Foxfire Labs, Johnston Heavy Machinery, Qaskail Systems, Liftow, Royal Canadian Steel, The Design Quantum

SCALE AI investment: $3.5 million

Total investment: $8.8 million

→ AI Enabled Control Tower for End-To-End Supply Chain Visibility and Support

Partners: Cavendish Farms, Deloitte, Nuvoola AI

SCALE AI investment: $3 million

Total investment: $7.8 million

→ Optimized de-icing operations

Partners: Aeromag 2000, Vooban, Air Canada

SCALE AI investment: $3 million

Total investment: $7.6 million

→ Pricing and room assignment optimization – cruise and hospitality industries

Partners: Plusgrade, IVADO Labs, MSC Cruises, InnVest Hotels

SCALE AI investment: $2.5 million

Total investment: $6.4 million

→ Leveraging AI for Patient Segmentation and Medication Adherence Forecasting

Partners: Bayshore HealthCare, Deloitte, Manifold Data Mining, Architech Solutions Consulting Services

SCALE AI investment: $1.9 million

Total investment: $6.3 million

→ Smart Replenishment and Smart Capacity

Partners: LFL Group, InDro Robotics, Lemay.AI

SCALE AI investment: $1.9 million

Total investment: $5 million

→ Bottleneck recognition analytics for manufacturing

Partners: Pacefactory, Woodbridge, Magna International, FunnelCloud, DSS + Dupont Sustainable Solutions

SCALE AI investment: $1.9 million

Total investment: $4.8 million

→ NutriVision

Partners: Foxfire Labs, Magellan Systems, 503 Farming, Alokozay Distribution, Al-Nasr Groceries

SCALE AI investment: $1.6 million

Total investment: $4.2 million

→ ADM AI Ramp Fluidity

Partners: Aéroports de Montréal, IVADO Labs, Groupe Infynia

SCALE AI investment: $1.7 million

Total investment: $17.6 million

→ Usage cycle prediction and anomaly detection for electric vehicle fleets

Partners: Cleo, Location Brossard, IVADO Labs

SCALE AI investment: $1.3 million

Total investment: $3.4 million

→ Advanced Planogram Optimization Functionalities

Partners: Canadian Tire, IVADO Labs, Cantactix Solutions

SCALE AI investment: $1.2 million

Total investment: $3.1 million

→ Platform for the North American Supply Chain Business Health and Risk Management

Partners: FreshBooks, Bullet Security, Digital Design, IXICA Communications, Sitter Select, MiSCAN Lab (McMaster University)

SCALE AI investment: $1.2 million

Total investment: $2.9 million

→ Routific II AI-powered Route Optimization

Partners: Routific Solutions, Fresh Prep, Lemay.ai, Leis de Buds, Greenhouse Juice Company

SCALE AI investment: $1 million

Total investment: $3.4 million

→ Improving last mile delivery with AI-generated indoor maps

Partners: Mappedin, Shippie, Rogers, Communitech, UniUni

SCALE AI investment: $0.7 million

Total investment: $2.5 million

→ Project Janus

Partners: NOLK, MOOV AI, Spaceful

SCALE AI investment: $0.9 million

Total investment: $2.3 million

→ WorkSafe AI

Partners: OVA, ArcelorMittal Produits longs Canada, Centre for Development and Research in Digital Intelligence (CDRIN)

SCALE AI investment: $0.7 million

Total investment: $2.2 million

→ AI-Driven Supply Chain

Partners: Logistik Unicorp, Inmind technologies, SimWell, Laboratoire en Intelligence des Données (LID-polymtl), Mondou, POLR

SCALE AI investment: $0.7 million

Total investment: $1.9 million

AI-Automated Inspection and Predictive Maintenance of Wireline Cables

Partners: Tier 1 Energy, Zetane Systems, DeltaTee Enterprises

SCALE AI investment: $0.5 million

Total investment: $1.6 million

→ SOLARIS

Partners: Enovum Data Centers, FirstBlock, Mind in a Box, Société en commandite Lebourgneuf, Énergir

SCALE AI investment: $0.6 million

Total investment: $1.5 million

→ AI-enabled Raw Material Characterization for the Drug Manufacturing Supply Chain

Partners: Katalyze AI, Sanofi Canada

SCALE AI investment: $0.3 million

Total investment: $0.6 million

→ Predicting patient risk of hospitalization and re-optimizing Home Care delivery

Partners: AlayaCare, CIUSSS NIM, Bien Chez Soi, Polytechnique Montréal

SCALE AI investment: $1 million

Total investment: $2.8 million

→ Accelerating Canadian Customs Brokerage with Intelligent Document Processing

Partners: Mely.ai Solutions, W2C, Mantoria

Scale AI investment: $0.2 million

Total investment: $0.3 million

About SCALE AI (scaleai.ca)

As Canada’s AI Global Innovation Cluster, Scale AI acts as an investment and innovation hub that accelerates the rapid adoption and integration of artificial intelligence (AI) and contributes to developing a world-class Canadian AI ecosystem. Based in Montreal and funded by the federal government and the Quebec government, Scale AI works with more than 500 industry partners, research institutes, and other players in the field of AI. The organization develops programs to support investments in companies that implement real-world applications of AI and encourage the emergence of future Canadian flagships in the sector, all while facilitating the development of a highly skilled workforce.

SOURCE Scale AI

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

GrayMatters Health Expands Mental Health Solutions Portfolio with Launch of Prism™ Suite

Published

on

By

Innovative Prism™ Platform Now Includes Protocol for Patients with Depression 

NEW YORK, May 15, 2025 /PRNewswire/ — GrayMatters Health (GMH), the pioneers in mental health treatment through digital brain biomarkers, today announced the launch of Prism™ Suite, a comprehensive, next-generation portfolio of solutions designed to empower providers and enhance patient outcomes. Building on the success of the FDA cleared Prism™ for PTSD, the newly expanded suite now includes a Depression protocol, further broadening GMH’s impact on the mental health landscape.

Powered by the world’s first fMRI-informed digital biomarkers, Prism™ is reshaping how providers guide patients on their mental health journey. The latest innovation within the portfolio is a Depression protocol that guides patients to learn to regulate brain activity associated with their depression using a reward-system biomarker.

“It is exciting to see novel interventions that use fMRI-Informed biomarkers to connect to brain systems,” commented Linda Carpenter, MD, Professor of Psychiatry and Human Behavior at Brown University and Director of the Neuromodulation Research Facility at Butler Hospital. “We anticipate that Prism targeting the reward-system biomarker will provide a personalized and effective care option for patients living with depression syndromes characterized by anhedonia.”

In interactive sessions, patients explore mental strategies to increase the level of the reward-system biomarker and get the animated character in the simulation to go out and do an activity. The results of the Depression pilot study, published in Brain Sciences, demonstrated reduction in depressive symptoms in 78% of participants (HDRS) with a large effect size on anhedonia symptoms (SHAPS-C).

“With the addition of the Depression protocol, we’re opening the door for even more patients to benefit from a personalized experience that can become a skill for daily life,” said Oded Kraft, CEO and co-founder of GrayMatters Health. “By harnessing the power of the brain, we’re giving mental healthcare providers tools to guide their patients to meaningful, measurable progress.”

To complement the patient experience, Prism™ Suite also features a robust set of features for providers to monitor patient progress and provide insights as to the patient experience to improve engagement. The Insights tool delivers data-driven analysis of each patient’s performance as well as suggested topics for discussion to guide their Prism experience.

GMH’s revolutionary technology is built on its proprietary EEG-fMRI-Pattern (EFP) digital biomarkers, developed using advanced machine learning to map high-resolution fMRI data from deep brain regions onto EEG signals. The company’s award-winning, FDA-cleared treatment for PTSD is helping patients learn to self-regulate brain activity associated with PTSD using an amygdala-based biomarker at clinics in California, Connecticut, Florida, Georgia, Illinois, Massachusetts, New York, North Dakota, Pennsylvania, Rhode Island, Texas and Washington.

To learn more about Prism™, visit https://www.graymatters-health.com/.

About GrayMatters Health
GrayMatters Health (GMH)  is a mental health technology company developing and marketing an interventional psychiatry suite of solutions powered by digital fMRI-Informed biomarkers. Prism™ self-neuromodulation empowers patients to develop personal mental strategies to regulate brain activity associated with their disorder in the clinic and in their daily lives.

The company is collaborating with leading mental health institutions to research and evaluate Prism for additional psychiatric disorders. GMH’s core patented technology has been extensively researched and featured across peer-reviewed publications, led by Professor Talma Hendler, MD, PhD and her team at Tel Aviv University.

Learn more by visiting our website https://graymatters-health.com and following us on LinkedIn.

Media Contact:
5W Public Relations
GrayMatters@5wpr.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/graymatters-health-expands-mental-health-solutions-portfolio-with-launch-of-prism-suite-302456552.html

SOURCE GrayMatters Health

Continue Reading

Technology

JX Luxventure Group Soars with 57% Revenue Surge and Sustained Profitability in FY 2024 Results

Published

on

By

HAIKOU, China, May 15, 2025 /PRNewswire/ — JX Luxventure Group Inc. (Nasdaq: JXG) (the “Company”), a company in the wholesale trade sector specializing in duty-free and cross-border consumer goods, as well as  providing integrated solutions in wholesale trade, including logistics, supply chain management, and technology solutions to support the efficient distribution of tourism-related products, today announced financial results for the fiscal year ended December 31, 2024. 

Financial Highlights for the full year ended December 31, 2024:

Revenue: The Company reported revenue of $49,840,288, an increase of $17,999,700 from $31,840,588 in 2023, representing a significant year-over-year growth of 57%.

Profit: Gross profit reached $8,352,316, up $2,895,947 from $5,456,369 in 2023, reflecting a robust year-over-year increase of 53%. Net profit was $3,073,807, a modest increase of $30,028 from $3,043,779 in 2023, marking a year-over-year growth of 1%.

Ms. Sun “Ice” Lei, Chief Executive Officer of the Company commented: “Our 2024 financial results demonstrate the strength and foresight of our three-year turnaround strategy, launched in 2020. This year’s strong performance, driven by significant revenue and gross profit growth, highlights our team’s dedication to operational excellence and strategic market expansion. Achieving a net profit of $3.07 million reflects our ability to sustain profitability while navigating the dynamic wholesale trade and tourism sectors with financial discipline.

Looking ahead, we are poised to capitalize on this momentum, continuing to innovate and expand our global presence. Our team is committed to delivering transformative growth while maintaining profitability, and we are confident in our strategy to drive long-term value for our stakeholders in the years to come.”

About JX Luxventure Group Inc.

Headquartered in Haikou, China, JX Luxventure Group Inc. is a company in the wholesale trade sector specializing in duty-free and cross-border consumer goods, as well as providing integrated solutions in wholesale trade, including logistics, supply chain management, and technology solutions to support the efficient distribution of tourism-related products.  To learn more about the Company, please visit its corporate website at https://www.jxluxventure.com/en/

Safe Harbor Statement

This press release may contain certain “forward-looking statements” relating to the business of JX Luxventure Group Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein, are “forward-looking statements” in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

View original content:https://www.prnewswire.com/news-releases/jx-luxventure-group-soars-with-57-revenue-surge-and-sustained-profitability-in-fy-2024-results-302455234.html

SOURCE JX Luxventure Group INC.

Continue Reading

Technology

MicroTech Secures Major Contract with Government Printing Office to Provide On-Site Federal Print Managed Services

Published

on

By

RESTON, Va., May 15, 2025 /PRNewswire/ — MicroTech, a leading provider of innovative IT solutions, proudly announces its latest achievement: a contract award from the Government Printing Office (GPO) under the esteemed D951-M program. This win authorizes MicroTech to deliver comprehensive managed print services, including printing, scanning, document conversion, mail equipment, fax server solutions, fleet management, and managed print services, to federal agencies both within the Continental United States (CONUS) and Outside the Continental United States (OCONUS).

A Monumental Milestone: Over 200 Task Orders and $400 Million in Awards
This contract expands MicroTech’s federal sector presence and builds on a legacy of success with the 951-M program. With over 200 task orders issued for services such as equipment supply, digitization, personnel management, and maintenance, MicroTech has become a trusted provider for federal agencies. Each task order typically exceeds $2 million, with the program’s cumulative value estimated at over $400 million, a figure that continues to grow.

Proven Federal Excellence
Since 2003, MicroTech has earned a reputation for delivering cost-effective, scalable solutions to both civilian and defense agencies. From print document services to IT asset management and enterprise mail systems, MicroTech consistently meets the unique needs of federal clients. Leveraging a strong network of partners, the company utilizes both leased and procured equipment to maximize efficiency and ensure top-tier service delivery.

The 951-M Program: A Federal Cornerstone
Now in its 19th year, the 951-M Umbrella Contract averages 20 task orders annually, each valued at over $2 million. It remains a vital resource for federal operational efficiency and cost-effectiveness. As the program evolves, MicroTech remains committed to providing innovative, reliable solutions that support the US Government’s mission.

“We are honored to support the mission-critical operations of our federal partners through this significant contract award,” said Tony Jimenez, President & CEO of MicroTech. “This reflects our ongoing commitment to excellence, innovation, and service reliability in managed print services across the public sector.”

About MicroTech
Founded in 2004, MicroTech is a Service-Disabled Veteran-Owned Small Business (SDVOSB) and Minority Business Enterprise (MBE) certified by the SBA and NMSDC. Recognized as a top Hispanic business and award-winning IT Managed Service Provider, MicroTech delivers solutions in Cyber Security, Cloud Computing, Infrastructure Services, Professional Engineering, Network Integration, Leasing/Financial Services, and Unified Communications. The company holds key certifications, including ISO 9001, 20000, 27001, 20243, CMMI Level 3 (Services & Development), and CMMC Level 2, as verified by a Certified Third-Party Assessment Organization (C3PAO), ensuring excellence in IT and advanced technology solutions.

Contact:
Jennifer Berman
jberman@microtech.net 

View original content:https://www.prnewswire.com/news-releases/microtech-secures-major-contract-with-government-printing-office-to-provide-on-site-federal-print-managed-services-302456669.html

SOURCE MicroTech

Continue Reading

Trending