#Canada #Quebec City #Point Laz #i4 Capital #Fonds Impulsion

Point Laz Secures $3 Million in Funding from i4 Capital Fund and Fonds Impulsion

In a significant development for the mining industry, Point Laz Mining Laser Expertise Inc. has successfully closed a $3 million funding round, positioning itself for accelerated growth and innovation in the realm of automated mine shaft inspections. This funding round was led by the i4 Capital Fund, with substantial contributions from Fonds Impulsion, which is managed by Investissement Québec and supported by the Government of Québec.

Point Laz is acclaimed for pioneering smart technologies that enhance the safety and efficiency of mine shaft inspections. With this new injection of capital, the company is set to amplify the production of its state-of-the-art mine shaft scanner and expand the global deployment of its analytics and artificial intelligence (AI) platform. These advancements are anticipated to transform how mining operations approach maintenance by providing predictive and preventative solutions that minimize downtime and associated risks.

In a statement, Alexandre Grenier, the Founder and Chief Executive Officer of Point Laz, emphasized the importance of this funding, stating, "The involvement of strategic partners like i4 Capital Fund and Fonds Impulsion is a strong endorsement of the value of our technology and our team's vision. This new capital will enable us to standardize our operations, enhance our global presence, and better serve our clients and partners."

The technology developed by Point Laz promises not only to streamline maintenance but also to set new benchmarks within the industry. By optimizing shaft maintenance processes, the company aims to significantly reduce downtime and operational risks, thus enhancing overall safety standards. Already, Point Laz has established a solid reputation by inspecting over 50 mine shafts globally, underscoring its position as an innovator in the field.

Jean-François Grenon, a Partner and Co-founder of the i4 Capital Fund, expressed confidence in Point Laz's market potential, stating, "We're proud to support Alexandre Grenier and the Point Laz team once again. Their unique approach to smart monitoring for the mining industry aligns perfectly with our investment strategy, and we believe they are well on their way to becoming a key player in the mining sector."

The significance of this funding also highlights the role of the Fonds Impulsion in nurturing the growth of tech companies within Quebec. Samuel Poulin, Minister for the Economy and Small and Medium Enterprises, noted that this support accelerates the development and commercialization of innovative solutions essential for vital sectors like mining. "Through strategic investments like these, we are building a stronger, forward-looking economy," Poulin remarked.

Furthermore, Alex Laverdière, Vice President of Venture Capital at Investissement Québec, spotlighted the potential of Point Laz to further advance the mining sector through its cutting-edge technology. Laverdière stated that the investment reflects a commitment to synergistic efforts with specialized funds to enhance innovative businesses’ growth while maximizing economic impact within Québec.

About Point Laz
Point Laz is dedicated to revolutionizing safety and performance standards in the mining industry through its automated mine shaft inspections and advanced predictive analytics. The company’s mission is to support both workers and businesses while promoting optimal working conditions across the mining sector. To learn more about their innovative solutions, visit Point Laz.

About i4 Capital Fund
Operating as a Canadian seed-stage venture capital fund, i4 Capital Fund is committed to supporting groundbreaking technologies and exceptional entrepreneurs. The fund aims to navigate funding rounds that facilitate transformative innovations in various sectors. More information can be found at i4 Capital Fund.

About Fonds Impulsion
Fonds Impulsion, managed by Investissement Québec, focuses on supporting innovative startups with high growth potential. It aims to provide strategic capital and tailored support to accelerate their growth, reinforcing the economic fabric of Québec. For further details, visit Investissement Québec.