A technology company founded by five Waterloo Engineering graduates has received $3.4 million in backing from the federal government to continue its growth.
Nulogy Corporation, which provides software and support for supply chain management, was one of six Toronto-based tech firms announced today for a total of $14.6 million in repayable investments by the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).
“As we have all adapted to the pandemic by moving our lives online, the digital sector has gone into overdrive over the last year - further fueling its growth,” Mélanie Joly, the minister responsible for FedDev Ontario, said in a media release.
Nulogy was literally founded in a living room in 2002 by recent systems design engineering graduates Sean Kirby, Jason Tham, Kevin Wong and Jason Yuen, as well as Tham’s father, Donald Tham, who had earned a master’s degree at Waterloo almost 25 years earlier.
It will use the federal money to further develop its innovative supply chain management software platform, build additional capacity to support its accelerated growth, and focus on export development activities.
“Nulogy’s vision is to drive innovation and resilience in supply chains through cutting-edge technologies in AI and automation, and through the investment made by the federal government, we will be able to significantly innovate on our solutions to help global consumer packaged goods companies and their outsourced suppliers operate with greater agility and sustainability,” CEO Jason Tham said in the release.
Nulogy and its founders were honoured by Waterloo Engineering in 2017 as the winners of the Team Alumni Achievement Medal.