Amount Financed: >$100k
Type of Facility: SR&ED Financing
Days to Fund: 21
Use of Funds: Investing heavily in R&D is costly and because of the level of innovation, this company took longer than expected to develop the device which is needed by their clients. After receiving feedback from beta sites, additional rework was needed but the funds from the seed investors and government were running out. Venbridge provided a bridge to help this company continue to develop their product and deliver an amazing solution to their client.
Company Background: This provider of advanced measurement solutions for factories – Their tool allows for measurement of wall thickness of plastics with the push of a button.