Caisse leads $10mn funding round for Canadian startup Poka

By zaymalz malz

Leading Canadian investment firm Caisse de dépôt et placement du Québec has led a $10mn funding round alongside a number of other leading firms including Bosch for Canadian startup Poka.

Poka is a web and mobile app that provides users with the power to capture and share critical information within a workplace and share it in real time to increase productivity – a tool that is particularly useful within factories and the wider manufacturing industry.

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“Multiple trends including an aging workforce and increased automation are converging right now to cause a skills gap,” said CEO and co-founder Alex Leclerc, “Poka addresses these challenges by accelerating employee onboarding and improving knowledge sharing in the new Smart Factory era.”

Having launched its software just three years ago, Poka has provided its services to a range of leading global brands including Thomas & Betts, ArcelorMittal, WestRock and Danone.

In the aim of advancing this, the funds raised will be used to facilitate the company’s wider expansion outside of Canada, namely across the US and Europe.

“As the industrial sector is undergoing rapid changes, manufacturers must leverage new ideas and technologies to stay competitive,” said Christian Dubé, Caisse's Executive Vice-President, Québec. “Poka's solutions help manufacturers improve their performance and achieve the digital sophistication that is now necessary to stand out.”

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