exactEarth secures $7.2 million SIF funding

The Cambridge, Ontario-based company exactEarth Ltd. received $7.2 million in federal investment through the Strategic Innovation Fund (SIF). exactEarth uses satellite technology to track ships at sea and to optimize routing for the global shipping industry. The funding will support exactEarth to invest more in R&D and to develop intellectual property that’s made and retained in Canada, as well as to continue collaborating with universities and research institutions in the Marine Environmental Observation, Prediction and Response Network (MEOPAR), a federally-funded Network of Centres of Excellence (NCE). With the help of this investment, exactEarth anticipates creating 67 jobs and plans to become a leader in real-time satellite Automatic Identification System (AIS) services.