SCALE AI: Record-breaking financing round to support 15 AI projects

The Honourable François-Philippe Champagne, Canada’s Minister of Innovation, Science and Industry, as well as a number of business partners, were present at SCALE AI’s offices to announce the most significant financing round to date for the organization since its creation. With $117 million in investments, the 15 projects unveiled today further demonstrate the acceleration of AI adoption in manufacturing, retail and agriculture, as well as in the development of innovative AI solutions for businesses. In addition to 9 new AI projects, this announcement also includes further investments in 6 projects already supported by SCALE AI, to enable them to be deployed on a larger scale for the benefit of the entire AI ecosystem.

Since 2019, SCALE AI has supported more than 90 industry projects, with investments totaling half a billion dollars, 62% of which was funded by the industry. This demonstrates that big and small Canadian companies are increasingly relying on AI to fuel their growth, be more efficient and gain leadership on the global scale.

Additionally, these Canadian companies own 100% of the intellectual property (IP) generated and funded in their SCALE AI projects, which is a crucial step towards growing Canada’s global competitive advantage in AI.

The Honourable François-Philippe Champagne, Canada’s Minister of Innovation, Science and Industry, says: “Investing in innovation, especially in artificial intelligence, is paramount to growing our economy and cementing our position as a global leader.”

“Today’s projects demonstrate how the SCALE AI cluster plays a key role in supporting Canada’s artificial intelligence sector, and ultimately creating highly skilled jobs, a more resilient supply chain and enabling companies to be more efficient and competitive.”

— The Honourable François-Philippe Champagne, Canada’s Minister of Innovation, Science and Industry

Julien Billot, CEO, SCALE AI, explains: “Over the past years, we have seen an increasing number of Canadian companies develop AI practices and reap the benefits. 2022 was a record-breaking year for the organization with a remarkable total investment of $204 million in 33 industry projects.”

“Through each of these funding round, SCALE AI has contributed to further advancing the adoption of AI for a significant number of companies across Canada. Our team is looking forward to pursuing its work to benefit the entire AI ecosystem in the upcoming years.”

— Julien Billot, CEO, Scale AI

Hélène Desmarais, Co-Chair of the Board of Directors, SCALE AI, adds: “This record-breaking financing round demonstrates the AI ecosystem’s momentum in accelerating the adoption and commercialization of AI across key industries in Canada. SCALE AI investments are having a significant impact on AI commercialization in Canada.”

“In its investment portfolio companies, the work of our Canadian AI talents employed by Canadian adopters and suppliers and the IP property they create, is owned here by Canadian companies, generating economic value and highly skilled jobs for the benefit of our country.”

— Hélène Desmarais, Co-Chair of the Board of Directors, SCALE AI

From left to right : Julien Billot (Scale AI), Pape Wade (Airudi), The Honourable François-Philippe Champagne (Canada’s Minister), Alexandre Boulerice (Deputy), Hélène Desmarais (Scale AI), Caroline Morissette (McCain), Louis Têtu (Coveo) and Michel Leblanc (Chamber of Commerce of Metropolitan Montreal). (CNW Group/Scale AI)

9 new projects representing investments of $97 million

McCain Driving Impact (MDI) x AI
Partners: McCain Foods Limited, Boston Consulting Group, Fiddlehead, Lemay.ai, Tribal Scale, Dalhousie University, Gaia Consulting, Beaver Creek Farms Ltd, Riverview Farms, Valley Farms, Killoween Farms
See more

AI-Powered Experience and Profit Optimization
Partners: Coveo, IVADO Labs
See more

Optimization of crane allocation
Partners: GUAY inc., Vooban
See more

Supply Chain AI for Circular Manufacturing Feedstock
Partners: Macrodyne Technologies Inc., ReGen Composites Inc., SimWell, Moov AI, Claude-Guy Quimper from Institute Intelligence and data—Université Laval
See more

Aircraft Parts Affinity Recommendation with AI
Partners: Bombardier, IVADO Labs, Xennial Innovations
See more

AI-Enabled Warehouse Digital Twin
Partners: Routeique, Big Rock Brewery, Alberta Machine Intelligence Institute (Amii)
See more

Intelligent structural steel design and estimating system
Partners: Canam Group Inc., RJC Engineers, McIntosh Perry Consulting Engineers, Moov AI, CICIEM (Concordia University)
See more

AI to enhance capabilities in early issue handling
Partners: BIM One, Nexapp, Moov AI, CIMA+, Clark Builders
See more