FedDev Ontario invests nearly $4 million in iS5 Communications Inc. and Crypto4A Technologies Inc. to scale-up operation; create 45 new skilled jobs; and maintain more than 90 jobs.
January 19, 2022 – Mississauga, Ontario
Access to safe and secure digital infrastructure is critical to keeping the engine of our economy running. The COVID-19 pandemic has further highlighted this need, and the Government of Canada is ensuring Canadian businesses have the tools to develop innovative solutions and technologies to keep us working smarter, safer and more effectively, now and into the future.
Today, the Honourable Helena Jaczek, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced a combined investment of nearly $4 million to support the scale-up and growth of two businesses: iS5 Communications Inc. and Crypto4A Technologies Inc. This combined investment will create 45 jobs and maintain more than 90 jobs, as well as leverage nearly $14 million in private sector support to the region.
Crypto4A Technologies Inc. (Crypto4A), an Ottawa-based cybersecurity firm, is receiving a repayable contribution of more than $2 million to accelerate commercialization of its QxEDGE™ quantum-safe cybersecurity platform, designed to keep user information secure while protecting the privacy and integrity of data. With this investment, Crypto4A will launch the next iteration of the platform, QxEDGE II™.
Mississauga-based iS5 Communications Inc. (iS5) is receiving a repayable contribution of $1.9 million to refine its RAPTOR® suite of products that securely monitor critical infrastructure and information for military, government and industry purposes. This investment will generate local supply chain benefits as iS5 Communications sources more than 60 percent of its parts locally and works with more than 20 suppliers and manufacturers across southern Ontario.
The Government of Canada is committed to supporting businesses and job creation in communities recovering from the COVID-19 pandemic. This includes investing in growing unique companies that combine advanced manufacturing and technology to build a more sustainable, innovative and safer digital economy for the future.