YottaYotta receives $7.7M in TPC assistance

Edmonton-based YottaYotta Inc has received $7.7 million from Technology Partnerships Canada to support a $30.1-million R&D project on data sharing and management for the defence, security, aerospace and research sectors. The new software architecture is aimed at enabling multi-site data collaboration, operational continuity and real-time disaster recovery for next-generation storage networking systems. TPC’s investment was instrumental in securing a $21-million financing from venture capital and institutional investors in Canada, the US and Europe. Last year, the privately funded company received $752,000 from Western Economic Diversification for a health care project to store and share magnetic resonance imaging data between Edmonton-based hospitals….