Daily News: July 31, 2019

CIBC Innovation Provides $3.5MM Facility for Invixium


CIBC Innovation Banking provided $3.5M in debt financing for Invixium, a provider of modern biometric solutions for access control and workforce digitalization.

The company will use the financing to support its growth plans.

Invixium builds internet-ready biometric security solutions utilizing face, finger vein and fingerprint recognition for access control, workforce management and smart building automation.

“Partnering with CIBC Innovation Banking is a huge vote of confidence for our growth trajectory,” said Shiraz Kapadia, CEO & President, Invixium. “Invixium has established a leading position in the fast-growing physical security and workforce management markets and we are well positioned to capitalize on the global trend towards utilizing biometric authentication for increasing enterprise security and productivity, once dominated by manual and antiquated means of access like keys, cards, fobs, PIN codes and punch cards.”

Founded in 2012, Invixium is headquartered in Markham, ONwith an office in India. The company is backed by McRock Capital, BDC Capital and Connecticut Innovations.