Eyeing safer streets, FedDev Ontario provides $187,500 loan to Ottawa’s SmartCone

SmartCone CEO Jason Lee. File photo.

FedDev Ontario is giving a boost to Ottawa’s SmartCone Technologies in hopes of getting its smart city safety device onto streets sooner.

The regional development agency announced this week it is giving the local Internet of Things developer a $187,500 loan to accelerate its entry to market. SmartCone creates a portable device that uses a variety of sensors to track traffic flow and hazards, giving city planners or site supervisors a better sense of the scene near the deployment.

It’s been a good 2019 for SmartCone so far. The Ottawa-based firm recently announced a partnership with IBM Watson to monitor workplace dangers and improve safety conditions at construction sites.

A FedDev release states SmartCone will use the funding to enhance the device’s features, expand to new markets and add eight full-time jobs.