CIBC Innovation Banking Boosts Nanoprecise’s Future
CIBC Innovation Banking recently provided $3.5 million in debt financing to Edmonton’s Nanoprecise Sci Corp. The purpose behind securing this funding is to bolster Nanoprecise’s working capital.
Nanoprecise specializes in delivering automated AI-based maintenance solutions, enabling businesses to effectively analyze data and predict the remaining operational life of their machinery and assets. By detecting changes in machine operations early, Nanoprecise contributes significantly to minimizing downtime and preventing production delays.
Sunil Vedula, CEO of Nanoprecise, emphasized the importance of collaborating with a seasoned financial institution that comprehends its vision. Moreover, he expressed excitement about the vast potential for innovative solutions in asset prediction. Nanoprecise is a trusted asset management solution provider with a global presence in Canada, the United States, India, and Europe.
Joe Timlin, Managing Director at CIBC Innovation Banking, shared his enthusiasm for working alongside Nanoprecise as it expands its operations in Canada and internationally. He acknowledged Nanoprecise’s contribution to cost and time savings through its user-friendly product suite driven by cutting-edge technology.
Nouman Usami, Nanoprecise’s VP of Finance, emphasized the importance of a long-term partnership with CIBC Innovation Banking amid rapid growth. He also underscored the bank’s global reach and ability to offer a comprehensive range of products and services tailored to meet Nanoprecise’s unique needs.
This collaboration reflects the commitment of both Nanoprecise and CIBC Innovation Banking to drive progress and success in the sector.
