Giatec Receives $5 Million from BDC Capital’s Cleantech Practice to Bolster Concrete Testing Tech

Copyright of Giatec Scientific Inc.

Ottawa-based Giatec, which provides concrete testing technologies, has secured a $5 million CAD investment from BDC Capital’s Cleantech Practice.

Giatec announced the financing last week, months after HeidelbergCement made a minority investment in the company in May. The funding amount for that investment was not disclosed.

In previous funding, Giatec received a cumulative $6.2 million investment from Sustainable Development Technology Canada (SDTC) last year. In 2018, Giatec also secured $2.4 million from SDTC and $800,000 in financing from the National Research Council of Canada Industrial Research Assistance Program.

A spokesperson for Giatec told BetaKit that the company has raised $25 million in total funding to date, spanning both private and government funding. They declined to disclose the breakdown of Giatec’s various investors and financing rounds beyond what has already been made public.

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