Sask. software technology company gets $1.8M in federal funding

A Saskatchewan company that builds software for electronic chips used in devices like smartphones has received $1.8 million from the federal government.

The funding for Solido Design Automation Inc. was announced at the software technologycompany's new headquarters in Saskatoon's Innovation Place on Friday morning.

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The money will go towards developing and commercializing the company's "machine learning-based" software, which is used in electronic chips.

The money was provided as part of the federal government's Western Innovation Initiative.

Small Business and Tourism Minister Bardish Chagger travelled to Saskatoon to make the funding announcement.

She said Solido also received $1.25 million from the same initiative for another project in 2014.

"Solido's success today is evident in the new workspace they have opened to the public today, in the faces of their expanding workforce, and most of all, in their success with international clients in the highly competitive software industry," said Chagger.