Nexus Robotics: An Example of SR&ED Tax Credits Reinvestment

Nexus

January 23, 2022 / Sarah Lesperance / Customer Stories

Robots-as-a-service disrupt traditional approaches to crop health, and fill a growing market need.

Nexus robots navigate and remove weeds autonomously. They use cameras and a neural network to differentiate between weeds and crops, remove weeds from many different crop types, and operate 24 hours a day. The robots constantly collect data about the crops and growing conditions, which helps farmers make more educated decisions about soil fertility and disease remediation.

Like every company that prioritizes innovation, Nexus Robotics places a premium on being fiscally responsible so it can continue to invest in innovation and grow faster. Boast has partnered with the company to maximize their tax credit funding available through Canada’s governmental Scientific Research and Experimental Design (SR&ED) program, which rewards innovation investment with tax credits.

“The Nexus Robotics team is compounding their return on the SR&ED program by utilizing our funding solutions,” said John Can Karayel, Boast Head of Investments. “Accessing SR&ED-eligible funds quarterly will dramatically speed up their innovation investment, time-to-market, growth, and valuation.”

Read More

Boast