Pravala Networks in Kitchener gets nearly $10 million boost from feds
Posted Apr 13, 2016 11:38:30 AM.
Last Updated Apr 14, 2016 07:20:53 AM.
This article is more than 5 years old.
A significant financial boost for a local company.
Federal Minister of Innovation, Science and Economic Development, Navdeep Bains announced Wednesday morning up to $9.7-million in funding for Pravala Networks in Kitchener which focuses on technology for automobiles.
“This is important because auto manufactures are demanding a constant supply of innovative product. This is a demand that we see consistently in order to meet new fuel efficiency standards and also these products are demanded by the consumer.”
Bains adds, the money comes from the Automotive Supplier Innovation Program. “This is a $100 million program that targets Canadian suppliers which by the way are primarily are small businesses.”
The money will help the Frederick Street company develop a platform that provides reliable, uninterrupted network connectivity to vehicles.
