In February, the company announced that it had raised $5.8 million in funding from the Canadian government.
Now Zenith says it has received another $3.8-million.
The company also has signed a memorandum of understanding with the province of Ontario, which will allow it to sell some of its products in Ontario.
“This is a significant step forward for Zenith,” said Mike Sirota, the vice-president of operations at Zenith.
“We are very happy that we are able to provide Zenith with additional funds that will enable it to scale up and accelerate our delivery capabilities.”
Zenith is one of a number of large, privately held logistics companies that have received funding from Ottawa in recent years.
Zenith’s latest round of funding will give the company more flexibility to work on the supply chain as it grows and expands its operations in the coming years.
“The company has done an excellent job of identifying strategic partners in areas that they believe will be the most important in the near- and long-term future,” said Zenith CEO and co-founder Stephen O’Neill.
The province’s contribution, of course, is not the only thing Zenith has raised from Ottawa.
Ottawa has also been a major investor in logistics companies, including the world’s largest logistics company, Lufthansa, which has also received a round of financing from the federal government.
But it’s the provincial government’s contribution that is most significant to Zenith and other companies that are looking to get into the logistics sector.
“These new investments represent a significant milestone for the company,” said Sirotta.
With this investment, we can build on our momentum, which is already at an incredible pace.” “
There is no doubt that Zenith, as a leading supplier of logistics to the world, is at the forefront of our industry.
With this investment, we can build on our momentum, which is already at an incredible pace.”
As it grows, Zenit is also looking to expand its operations to other provinces and countries.
The provincial government has been encouraging Zenith to take on additional business.
In May, Zeniton said it would start a new partnership with the Quebec government to expand Zenith into other parts of the province.
That’s one of the reasons the company has also invested $4 million in a new factory in Sudbury, Ont.
that will be used to produce the company’s large-capacity containers.
“With this investment we will be providing Zenith more options for exporting to more countries and will be adding another manufacturing facility to Sudbury,” said David Haggarty, the head of logistics for Zenit.
“Our focus will remain on the manufacturing of Zenit’s products in Sudhams factories and will not change.”