The Canadian Business Growth Fund led the round, with new investors Pender Fund and Export Development Canada, bringing the company’s total funding to over $55 million. Librestream plans to use the funds to increase its workforce by 50 per cent over the next two years and enhance the capabilities of its augmented reality work platform. (BetaKit)
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The Canadian Business Growth Fund led the round, with new investors Pender Fund and Export Development Canada, bringing the company’s total funding to over $55 million. Librestream plans to use the funds to increase its workforce by 50 per cent over the next two years and enhance the capabilities of its augmented reality work platform. (BetaKit)
Talking point: Librestream offers a “remote expert assistance system” that helps workers remotely test and inspect equipment in places like oil rigs, where internet connectivity is limited. Since March, the company has noted a 433 per cent increase in the usage of its platform globally due to COVID-19 restrictions and more people working from home. Librestream hopes to bring its technology to workers in the Asia-Pacific region, Latin America and Africa and expand into the retail and telehealth space.
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