BEST Funds, a venture capital firm based in Toronto, invested CAD 4 million in Intelligent Mechatronic Systems Inc. (IMS). Based in Waterloo, Ontario, IMS is business focused on solutions for vehicle safety and intelligence. One of their notable projects is technology that enables drivers to get information and online content even while they're behind the wheel. The added capital will be used for research and development.

CEO of BEST Funds John Richardson thinks that IMS is now nearing rapid advancement. "In today's fast-paced economy, consumers are looking for a way to optimize every moment of their day, whether they are at work, home or on the road. We believe that IMS' Connected Car^TM technology is a breakthrough that will enhance people's lives greatly - which is exactly the type of innovation we seek out," he said.

For his part, IMS CEO and President Dr. Otman Basir responded that the investment will help the company achieve its purpose. "Our goal at IMS is to add more purpose to every journey by allowing drivers to safely receive and manage information in a comprehensive and intuitive manner. This investment will greatly aid us to continue to produce award-winning technologies, and to further develop solutions that put people first," he said in a press release.