Lytica Inc
| LOCATION | Ottawa, ON |
| FUNDING RECEIVED | $500,000 |
| JOBS MAINTAINED | 12 FTE |
| FORECASTED JOBS CREATED | 67 FTE (New jobs created from SOFII funding) |
| WEBSITE | www.lytica.com |
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.
SOFII PROJECT SUMMARY
SOFII funding was used for working capital to complete a SaaS conversion of their existing analytics products: price benchmarking reports and cost estimation.
TESTIMONIAL
"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."