In addition to a recent influx of public funds, Martello Technologies (TSX-V:MTLO) will also accelerate its product development with a new source of federal funding.
The Ottawa-based communications services firm announced Monday morning it will receive up to $2 million from the National Research Council’s Industrial Research Assistance Program, known more commonly as IRAP. The program is designed to help Canadian enterprises commercialize their products and services.
Martello said in a release that the IRAP funding will help it to hire 11 new employees and “accelerate” the development of its network performance management services.
(Sponsored)
Borden Ladner Gervais LLP and partners lead with generosity
Borden Ladner Gervais LLP (BLG) are no strangers to supporting charities in the nation’s capital. From the Boys & Girls Club of Ottawa to Crohn’s and Colitis Canada to the
SnowBall 2026: A premier networking event with purpose returns to 50 Sussex Dr.
As winter settles in across the capital, one of Ottawa’s most high-profile charitable and business networking events is set to return to its roots: On Wed., March 4, 2026, The
The firm, which went public on the TSX Venture Exchange earlier this month, helps enterprises manage rising bandwidth demands and troubleshoot issues as they occur. The release says that the IRAP funding will go towards automating these management processes, reducing the need for IT intervention.
“As the pace of digital transformation grows, this funding will help our solution reach the market faster, allowing us to capitalize on this significant opportunity,” said Martello CEO John Proctor in a statement.
After less than two weeks on the public markets, Martello’s price has fluctuated. The firm opened trading at $0.50 on Wed., Sept. 12 and rose to $1.17 by the end of its first week, but has since fallen back to around $0.66 in trading on Monday.
