|
||
 |
TrueContext
closes Canarie financing By Ottawa Business Journal Staff Mon, May 12, 2003 11:00 AM EST Ottawa's TrueContext Corp. clinched a $1.5-million financing deal with federal agency Canarie Inc. on Monday. The financing, first reported by the Otttawa Business Journal a month ago, will help keep the company operating as it pursues the roughly $15 million that it needs to bring for full-scale commercial rollout. Canarie Inc., a not-for-profit Internet development corporation funded by the federal government, selected TrueContext to be one of its e-business portfolio companies. Canarie's selection includes the new funding. TrueContext develops software for mobile computing devices. The company aims to provide the back-end enterprise software support for financial institutions' services and mobile service providers' product lines. At last month's Go North VC fair in Montreal, president and CEO Alvaro Pombo said the company's strength is that mobile users can move content to and from their wireless devices and manipulate it on the fly more easily than current methods. All this is done without the content provider having to build this new functionality into its own network. As an example, Pombo said an executive could make changes to a document
from his or her mobile device using TrueContext's technology and send
the updated copy to his or her colleagues instantly. |