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A London-based tech company will more than double in size, following a federal government cash injection announced on Friday.

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Factory Bucket, a software company that helps businesses and industry monitor and improve efficiency and productivity, is one of three companies in the region to share $ 5.6 million in loans from FedDev Ontario , adding 115 jobs to the regional economy.

Factory Bucket will receive $ 500,000 over two years and add 20 workers to the 15 it currently has, CEO David Uram said.

“The current market trend in manufacturing is to automate systems and we are part of the wave. We streamline processes and workflows.

Factory Bucket creates software that helps manufacturers replace paperwork by digitizing supply chain management, planning, paper forms, spreadsheets and whiteboards. This is called codeless technology in the tech industry.

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Factory Bucket technology allows companies to install this technology, “cutting out the middleman” and speeding up efficiency while saving money, Uram said.

” Its very important. We work with all kinds of stores, large and small. We cover the whole gamut.

Davids Uram, left, managing director of Factory Bucket, said the London-based software company is working with many companies to streamline processes and workflows.  Uram is flanked by Jason Bates, VP of Business Development, at the Best Defense conference in this file photo.
Davids Uram, left, managing director of Factory Bucket, said the London-based software company is working with many companies to streamline processes and workflows. Uram is flanked by Jason Bates, VP of Business Development, at the Best Defense conference in this file photo.

FedDev Ontario announced on Friday that the loans were intended to support growth and expansion plans during the COVID-19 pandemic.

“There is no doubt that we have to be very supportive of companies that are trying to develop and grow. It is my pleasure to announce these repayable loans to you. It helps all of these businesses, ”said Kate Young, Member of Parliament for London West and Parliamentary Secretary to the Minister of Economic Development and Official Languages.

“Southwestern Ontario has a strong manufacturing base,” Young said. “FedDev Ontario is here for small businesses, to help them survive and prosper.

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The other beneficiaries of the loan are:

  • $ 4.1 million to Titan Trailers to build a new facility in Delhi, rebuild their facility in Tillsonburg and purchase new equipment. It will add 75 jobs.
  • $ 1 million to Oxford Pallet and Recyclers in Norwich for new equipment at its new 48,000 square foot facility. This technology will allow Oxford Pallet to increase its productivity and recycle waste pallets without any waste. It will add 20 jobs.

The loans are offered over two years and repayment begins in 2023 over five years without interest.

“When we look at the tech sector in southwestern Ontario, there are companies that are doing amazing things. This is a significant investment in technology, ”said David Billson, one of the founders of HR Accelerator which helps grow technology companies.

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Factory Bucket has taken 1,600 square feet in the Western Fair District for office space, although its staff are still working from home due to COVID-19.

Kapil Lakhotia, managing director of the London Economic Development Corp., applauded the funding to support businesses in the event of a pandemic.

“The evolution of manufacturing in southwestern Ontario includes an intensive application of (technology). There are industry-wide changes in traditional manufacturing and that’s where Factory Bucket grows, ”he said.

“It allows businesses to become more productive.

Titan Trailers designs and builds custom aluminum trailers for bulk cargo and shipping in the areas of waste management, recycling, agriculture, forestry and construction. Titan has increased its annual production capacity from 600 to 1,500 trailers and employs 75 people between Tillsonburg and Delhi.

Oxford Pallet operates a wood pallet recycling business and employs 68 people. Its products include new pallets, remanufactured pallets, wood material handling bins, crates, flower racks and mulch used for biofuel and livestock bedding.

FedDev Ontario is a federal agency that provides funds to businesses, industry and organizations in southern Ontario to support economic growth. Since 2015, FedDev Ontario has invested more than $ 86 million in approximately 130 projects in the Middlesex, Oxford and Norfolk areas.

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