May Wrap-up: Success Sprouts in Waterloo

Despite challenging headwinds in the global business landscape, the Waterloo region continued to make significant strides through international investments, strategic partnerships and local wins.  

Here’s a look at our top stories from May that are helping us keep our spirits high as we move into the months ahead. 

Waterloo welcomes HGS and 150 new jobs

Hinduja Global Solutions (HGS) has opened its newest digital customer experience (CX) and Data & Analytics innovation centre in Waterloo. Backed by Invest Ontario and Waterloo EDC, the new centre will drive next-gen, tech-enabled customer engagement for global brands and create 150 new jobs. 

“Waterloo is the ideal city for HGS to expand,” said Savita Jones, SVP – North America Operations, HGS. “This region is home to more than 1,000 technology firms and has proven to be the perfect place to turn innovative ideas into a thriving business.” 

The May 15 launch brought together HGS leadership, government officials and economic development partners to celebrate the company’s Canadian growth. With roles in automation, AI, IT and customer service, the centre aims to drive digital transformation in customer experience.  

A big win for Waterloo’s startup ecosystem

Velocity Fund II (VFII), a new early-stage venture capital fund spun out of the Kitchener-based Velocity incubator, announced a USD $10M first close. The fund targets startups in software, deep tech and health tech.  

“We’re committed to supporting incredible and ambitious founders with the fund we wish had existed when we were starting out,” said Ross Robinson, general partner at VFII. The fund’s backers include Graphite Ventures, the University of Waterloo, AngelList’s Systematic Fund of Funds, and several high-net-worth individuals – many of them Waterloo alumni.  

VFII has already invested in five high-potential companies, including Velocity-backed Voltra Energy and Handshake.

All-new ZEV ecosystem map of Waterloo

Waterloo EDC recently launched Waterloo’s Zero Emission Vehicle (ZEV) ecosystem map. The map highlights key players, startups and commercialization and research hubs shaping the future of clean mobility in our region.  

From battery research to EV assembly and AI-powered design, the Waterloo region ZEV ecosystem spans the entire supply chain. Big names like Toyota, Siemens and Mercedes-Benz investing in Waterloo’s ZEV sector, it is emerging as Canada’s engine for clean next-gen mobility.  

Dr. Linda Nazar receives prestigious fellowship

Waterloo’s renowned battery researcher, co-leader of Ontario Battery and Electrochemistry Research Centre (OBEC) and Canada research chair in Solid State Energy Materials, Dr. Linda Nazar was honoured with the inaugural Killam NRC Paul Corkum Fellowship for 2025.    

The fellowship enables Dr. Nazar to collaborate with National Research Council’s (NRC) researcher Dr. Yaser Abu-Lebdeh to accelerate battery research. “The Fellowship will enhance our ability to deliver critical results to advancing the feasibility and adoption of electric vehicles and other energy storage applications,” says Dr. Nazar.  

EV funding boosts Waterloo innovators

Ontario’s EV sector is getting a major boost with a $56M investment to be shared among 30 small and medium-sized tech companies, including several from the Waterloo region.  

The funding, which combines $39M from private partners and $17M from Ontario Vehicle Innovation Network (OVIN), will go towards developing cutting-edge solutions across EV communications, powertrains, cybersecurity and more.  

Recipients from our community include Dejero, KA Imaging Inc., Palitronica Inc., GeoMate Inc., Clockwork, Audesse Automotive and DFN Freight Exchange. “By investing in homegrown innovation and helping local companies compete in global markets, Ontario is protecting the future of our automotive sector,” said Vic Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade.

UWaterloo and BASF team up for AI research

BASF, a leading chemical company, is partnering with University of Waterloo’s Data and Artificial Intelligence Institute (Waterloo.AI) for a 3-year research partnership to enhance business decision-making and operational efficiency through AI applications.

The partnership aims to create business value through AI innovation to gain real-time insights to empower business users across various functions and open new research opportunities.

“Innovation thrives on collaboration,” said Jürgen Müller, head of BASF’s AI Innovation Center. This partnership will strengthen Waterloo’s position as a leader in AI.

Robot food delivery rolls out in Ontario

Kitchener-based Real Life Robotics has teamed up with Skip to launch Canada’s first municipally approved robot-powered delivery pilot in Markham, Ontario. The three-month pilot will deploy four supervised delivery robots operating within a 2km radius.

The collaboration includes support from Robot.com and Remington Group. The mission behind robot delivery is to find more practical, sustainable and efficient solutions for food delivery, according to the CEO Cameron Waite. If successful, the company plans to roll out 500 robots nationwide within three years.

Steady leadership, strong results for Waterloo EDC

Waterloo EDC’s 2024 Annual Report, released in May, highlights strong results amid challenging global landscape. The organization closed nine deals totaling over $288M, including six foreign direct investments and three local expansions – creating 267 new jobs. Major wins included investments from OVHcloud and Westinghouse and the investment pipeline is now worth $1.48B.  

The report also outlines our strategic direction as we move into year two of our five-year strategic plan, reaffirming Waterloo EDC’s position as a trusted investment partner. Take a look at the full report for details.  

Build your momentum in Waterloo

As May wraps up, we are proud of the momentum of growth and innovation building in Waterloo. From major global investments to industry-academia collaborations, our region continues to prove why it’s one of North America’s most sought-after tech ecosystems.