Micrologic announced it raised $45 million in financing from Québec backers, including $25 million from Fonds de Solidarité FTQ and $20 million from Investissement Québec. The company provides cybersecurity, IT, and data/AI hosting for government and private clients, positioning itself as a Canadian alternative to US cloud providers.
The three largest US cloud firms control 85% of Canada’s market, but the Canada-US trade war has spurred interest in domestic options. CEO Stéphane Garneau said working with Micrologic could bring $2 billion into Québec over five years instead of flowing to US companies.