The Ottawa government has granted stimulus funding to two Toronto startups.
Wave Accounting will recieve over $750,000, and Guardly will recieve just under $250,000. Both companie are less than one year old.
“The investments in Guardly and Wave Accounting will help the companies to develop new technologies so they can grow their businesses and create jobs,” Mark Adler, Member of Parliament for York-Centre, said in a prepared statement.
The money will be distributed through the Federal Economic Development Agency for Southern Ontario. Wave will use its funding to double its workface by the end of 2012, and Guardly will use its funding to develop an API for developers. Guardly raised seed funding in April from Toronto's Extreme Venture Partners, Bryker Capital, and angel investors.