MappedIn will receive up to $600,000 from the Federal Economic Development Agency for Southern Ontario (FedDev) to adapt its digital wayfinding and indoor mapping technology.
The repayable contribution, announced at MappedIn’s offices by FedDev Ontario Minister of State Gary Goodyear on Thursday, was unlocked by a $1.2-million infusion from local angel investors and venture capitalists.
Ed Wei (right), Director of Engineering at MappedIn,
demonstrates the company’s technology to
Gary Goodyear, Minister of State for FedDev Ontario (centre),
and Stephen Woodworth, MP for Kitchener Centre.
(Communitech photo: Anthony Reinhart)
The money, part of FedDev’s Investing in Business Innovation initiative, will go towards a project that is expected to add 48 new full-time positions to MappedIn’s current roster of 20.
“I look forward to seeing what MappedIn will achieve in the future,” Goodyear told an audience gathered in the company’s bright, seventh-floor offices at 305 King St. W. in Kitchener. “Their success is a testament to the technological hub that this area has become.”
MappedIn was founded in 2011 and incubated in the UW Velocity Garage in the Tannery, a stone’s throw from its current offices.
The company works with property managers and institutions to help their visitors find their way through their facilities. The technology also helps users to “better manage, deliver and analyze their indoor spatial data,” said Hongwei Liu, MappedIn’s co-founder and CEO.
