Loop Insights Inc (CVE:MTRX) (OCTMKTS:RACMF) said Thursday it has been accepted into the TELUS Corp IoT (Internet of Things) Marketplace, which will serve to significantly expand Loop's sales distribution channels on a national scale.
TELUS launched the marketplace to help Canadian businesses accelerate the adoption of IoT tech. Loop said the marketplace is designed to allow businesses to quickly deploy IoT solutions while acting as a lead generation and sales channel for developers and TELUS has also committed its sales and marketing teams to provide support.
"By partnering with innovative and leading IoT development companies, such as Loop, we're ensuring that our customers have access to some of the most advanced IoT business solutions in the world," said Andrew Turner, vice president of strategy at TELUS.
Rob Anson, CEO of Loop, praised TELUS for its third-party validation of the Vancouver, British Columbia-based company’s technology.
“More than just words, their sales and marketing support will be invaluable in commercializing and distributing our technology to TELUS customers across Canada, providing us with even greater strength when speaking to potential IoT customers around the world," Anson said.
Loop said the marketplace distribution channel is both critical and timely to the company, given the growth of IoT. Investment in the technology Canada is growing exponentially, requiring companies and organizations to access new services to stay competitive and relevant quickly. Loop's addition to the TELUS marketplace provides marketing exposure and industry validation, making it easier for businesses to access Loop's game-changing technology.
In Canada alone, experts anticipate that the total IoT market will grow to $21.8 billion in 2023.
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