Bras “smart” could make him lose $ 3 million

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The organization Investissement Québec (IQ) does not know if he will be able to recover its three-million $ invested in the firm in quebec in the instance of bankruptcy OMsignal, who dreamed of breaking into the market bras ” smart “.

“Impossible to answer this at this stage. The company owns several assets, including intellectual property, to be disposed of “, was limited to say the Journal by e-mail to the spokesperson of IQ, Isabelle Fontaine.

Three years ago, Investissement Québec (IQ) has injected $ 3 million into OMsignal in a round of funding of $ 10 million, alongside Real Ventures and Relay Ventures, to market their clothing fitted with electronic sensors.

In addition to its three million $… IQ has granted a loan of $ 267,000 to the SMES in quebec. However, OMsignal is in the instance of bankruptcy since the 25th of January last. Its deficit amounts to about 696 000 $, according to PwC records consulted by The Newspaper.

Good hope

If it is too early to know what will happen to the millions of dollars in public injected into the adventure, Investissement Québec has good hope of seeing the color of money of the loan of $ 267,000 last year.

“Since we have a first-ranking hypothec on the assets of the company, we have good hope to recover our development,” said Ms. Fontaine by e-mail.

Investissement Québec is not the only one to lose her eggs in the adventure. Its chinese supplier, Huami, made his pieces biometric ends up with a bill of over 667 000 $ not paid.

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Finally, OMsignal has also nearly $ 165 000 employees and more than $ 90,000 to Ottawa, via Canada economic Development for Quebec regions (CED).

Remember that Investissement Québec is the largest shareholder of the company (non-controlling). Then come the funds toronto-based Relay Ventures and the New York city-based Bessemer Venture Partners VIII Institutional, according to the Register of companies.

The Newspaper has not been able to contact the company yesterday.

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