Software firm Arvizio is changing its name and adding more than 100 engineers to its staff after receiving a multimillion-dollar investment from an eastern European company. The Ottawa company announced Monday it has officially rebranded to Averian to reflect a “strategic shift” toward developing AI-driven applications and other custom software services. “Having a new brand […]
Software firm Arvizio is changing its name and adding more than 100 engineers to its staff after receiving a multimillion-dollar investment from an eastern European company.
The Ottawa company announced Monday it has officially rebranded to Averian to reflect a “strategic shift” toward developing AI-driven applications and other custom software services.
“Having a new brand kind of just makes it fresh for everybody (and) changes the mindset,” explained CEO Taimoor Nawab, who took over the firm about 10 months ago and pledged to help it scale after it had spent nearly a decade developing AI-fuelled software tools that use augmented reality to train remote workers.
The rebrand comes along with a “significant investment” from Bulgaria-based AUG Global, a holding company that primarily backs tech firms and already owned a stake in Averian.
Nawab would not disclose the dollar value of the investment, saying only it’s “well into the seven figures.” In addition to fresh capital, AUG Global is also helping to finance the hiring of 102 new engineers in Bulgaria, Poland and Portugal who’ve been contractors for AUG and will now join Averian’s team.
Launched in 2016 by serial entrepreneur Alex Berlin and business partners Jonathan Reeves and Borys Vorobyov, Averian specializes in an augmented reality platform that generates three-dimensional “digital twins” of engines, power grids and other infrastructure.
Tapping into AI-powered workflows, the software teaches employees how to assemble or fix the item, guiding them through the process virtually. The system’s AI then checks the work and validates it.
Nawab said Averian will continue to build augmented and virtual reality solutions. But the company has recently begun pivoting more toward developing custom AI-powered solutions for customers in the automotive, telecommunications, industrial, med-tech and Internet of Things sectors.
“We’re not getting out of (the AR and VR) space,” he explained. “What we’re really doing is … going more into customization as opposed to a single product offering.”
For example, the company introduced new visual inspection software earlier this year that scans images of products and uses AI to quickly assess whether they’ve been assembled or manufactured properly.
“That really started taking off,” Nawab said, explaining that potential buyers ranging from automakers to hardwood flooring manufacturers have inquired about the product.
Almost immediately after introducing the new AI validator tool, Averian’s sales pipeline for bespoke AI solutions was five times larger than orders it was receiving for its AR and VR software. Nawab said he knew right away the company would need more money and workers to meet the demand.
“That traction keeps growing, and so that meant we had to grow and continue with a capital injection,” he explained.
When Nawab took the helm last July, Averian had about 15 employees and four customers. Buoyed by the new funding, the firm is now planning to hire an additional 15 engineers in Ottawa this year and another 15 by the end of 2026, which would bring its head count to around 145 – and that’s not even taking into account the need for more sales and marketing experts as Averian continues to tap into new verticals and geographic markets.
“It’s going to be significant growth for us in the next 12-24 months,” Nawab said. “We’ve got a good handle on (scaling), so now it’s delivering and continuing to grow. That’s the main focus.” 
