VANCOUVER, BC, October 15, 2020, Loop Insights Inc. (MTRX: TSXV OTCQB: RACMF) (the “Company” or “Loop”), a provider of contactless solutions and artificial intelligence (“AI”) to drive real-time insights, enhanced customer engagement, and automated contact tracing to the brick and mortar space, is pleased to announce the Company has been accepted into the TELUS IoT Marketplace (T:TSX; TU: NYSE), which will serve to significantly expand Loop’s sales distribution channels on a national scale.
TELUS launched the TELUS IoT Marketplace to help Canadian businesses accelerate the adoption of Internet of Things (IoT) tech. The marketplace is designed to allow businesses to quickly deploy IoT solutions while acting as a lead generation and sales channel for developers. TELUS has also committed its sales and marketing teams to provide support.
Andrew Turner, TELUS VP Strategic Operations, stated: “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.”
Rob Anson, CEO Of Loop Insights, stated: “To be recognized by TELUS as one of the most advanced IoT solutions in the world for their customers is as good as it gets for third party validation of our 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.”
CANADIAN IoT MARKET TO HIT $21.8 BILLION BY 2023
The TELUS IoT Marketplace distribution channel is both critical and timely to Loop, given the growth of IoT taking place Globally. IoT investment in 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.
Nigel Wallis, Vice President, Internet of Things and Industries at IDC Canada, stated: “In Canada alone, IDC anticipates that the total IoT market will grow to $21.8 billion in 2023. While organizations are investing in hardware, software, and services to support their IoT initiatives, their next challenge is finding solutions that help them manage, process, and analyze the data being generated from all these connected things.”
This Press Release Is Available On The Loop Insights Verified Forum On AGORACOM For Shareholder Discussion And Management Engagement https://agoracom.com/ir/LoopInsights/forums/discussion
About TELUS:
TELUS (TSX: T, NYSE: TU) is a dynamic, world-leading communications and information technology company with $14.6 billion in annual revenue and 14.2 million customer connections spanning wireless, data, IP, voice, television, entertainment, video and security. We leverage our global-leading technology to enable remarkable human outcomes. Our longstanding commitment to putting our customers first fuels every aspect of our business, making us a distinct leader in customer service excellence and loyalty. TELUS Health is Canada’s largest healthcare IT provider, and TELUS International delivers the most innovative business process solutions to some of the world’s most established brands.
Driven by our passionate social purpose to connect all Canadians for good, our deeply meaningful and enduring philosophy to give where we live has inspired our team members and retirees to contribute more than $700 million and 1.3 million days of service since 2000. This unprecedented generosity and unparalleled volunteerism have made TELUS the most giving company in the world.
This news release contains certain statements which constitute forward looking statements or information, including statements regarding Loop’s business and technology; the ability of Loop to engage with industry participants to achieve its goals; the development of Loop’s technology; and the viability of Loop’s business model. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Loop’s control, including the impact of general economic conditions, industry conditions, competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Loop believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Loop does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Loop should be considered highly speculative. There can be no assurance that Loop will be able to achieve all or any of its proposed objectives.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.