BUSINESS DESCRIPTION
Lytica has developed a SaaS based platform providing electronic component spending analytics for Original Equipment Manufacturers (OEMs) and Contract Manufacturers (CMs). Lytica provides OEMs and CMs with a thorough benchmark assessment (vs. the market) of the electronic components part of their Cost of Goods Sold. The service is nearly real-time and is universally applicable to all OEMs and CMs.
Location | Ottawa, ON |
Funding Raised | $500,000 |
Jobs Maintained | 12 FTE |
Forecasted Job Creation | 67 FTE (new jobs created from SOFII funding) |
Website |
SOFII PROJECT SUMMARY
The SOFII application was straightforward and we found the IRC (Investment Review Committee) members, seasoned, knowledgeable and entrepreneur-centric. Although the evaluation was in-depth, the process was exactly as advertised. We were informed on the presentation day about our funding success. The SOFII capital funded the product development that allowed Lytica to release our first SaaS product in December of 2019.
Mark Tayles
President and CEO
