Robotics Leader Recognized Among Top One Percent of Canada's Private Companies
OTTO Motors, a leading provider of autonomous mobile robots (AMRs), today announced that the company has been named as a member of Team True North. Team True North is a proactive, data-based initiative by Communitech that serves to identify the country's highest-potential tech companies and strengthen the entire Canadian tech ecosystem through all phases of the economic cycle. Companies recognized as part of Team True North represent the top one percent of Canada's highest-performing global private companies.
“We’re honored to be named to the Team True North and to be the only robotics company on the list for 2022,” said Matthew Rendall, CEO and Co-Founder of OTTO Motors. “In the past few years, we’ve seen automation transition from a tactical initiative to a strategic one, and this recognition by Communitech speaks to the growing importance of automation. We’re proud to be among this year’s winners and to help keep the economic wheels turning in Canada and around the world.”
"We're thrilled to have identified 26 more world-class tech firms in Canada's innovation economy to add to our 2022 Team True North roster," said Chris Albinson, CEO and president at Communitech. "Our tech ecosystem's ability to weather current economic challenges is due to their impressive growth and an unwavering commitment to Tech For Good, which is a distinct global advantage for Canada."
According to comprehensive data from Silicon Valley Bank, analysis by New York-based data science firm Two Sigma, and the model developed by Communitech for measuring growth potential, each company in the 2022 lineup of Team True North meets one of four criteria:
- $20M-$39M in annual revenue with 60 per cent or more growth rate,
- $40M-$79M in annual revenue with 40 per cent or more growth rate,
- $80M - $99M in annual revenue with at least 20 per cent growth rate, OR
- $100M+ in annual revenue with at least 15 per cent growth rate
For more information on Team True North: Canada’s top-performing tech companies, please visit: communitech.ca/teamtruenorth.
About OTTO Motors
OTTO Motors provides autonomous mobile robots for material handling inside manufacturing facilities and warehouses. With over three million hours of driving experience, OTTO is trusted for mission-critical deliveries in the most demanding of industrial environments. Seventy percent of OTTO’s customers are Fortune 500 companies and include some of the world’s most recognized brands, including GE and Toyota. For more information, visit ottomotors.com.
About Communitech
Established in 1997 in Waterloo Region, Communitech was built by tech founders who saw the need for a community of support to help ensure the future prosperity of Canada. Today, Communitech is Canada’s leading innovation hub, supporting a community of more than 1,200 founders by providing accelerated opportunities to access talent, capital, and sales. For more information, please visit communitech.ca.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221024005812/en/
Contacts
Tim Smith
Element Public Relations
415-350-3019
press@ottomotors.com
