iS5 gets $750K to develop more secure industrial ethernet products
Cyber security platform and technology will operate in temperatures ranging from -40 to 85 degrees C.
MISSISSAUGA, Ont. — A manufacturer of industrial ethernet products has received $750,000 in funding from FedDev Ontario to develop faster, more secure ethernet switches and other network equipment.
This investment in iS5 Communications Inc. in Mississauga, Ont. is expected to nearly double the company’s workforce adding up to 12 skilled jobs.
iS5’s supplies its network equipment, which is resistant to extreme temperatures, signal interference and cyber attacks, to the utilities, defence and transportation sectors. Its cyber security platform and technology will operate in temperatures ranging from -40 to 85 degrees C without being affected by frequency interference from other sources.
“The repayable contribution received from FedDev Ontario will help iS5 Communications commercialize our products, including our latest innovation, ‘Raptor,’ and optimize our supply chain to improve our competitiveness in the global market,” said
Clive Dias, president and CEO of the company.
FedDev Ontario’s funding is expected to attract an addition $1.5 million from accredited members registered with the Canadian Venture Capital Association and the York Angel Investors.