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A Toronto-based startup, called Skymeter, is developing this technology using what it calls 'financial-grade GPS' data.
Skymeter recently received a $500,000 loan from the Ontario Ministry of Research and Innovation and is a tenant in Toronto's MaRS Centre. In 2007, at the Canadian Venture Forum held in Toronto, Skymeter was selected as "the best angel company" and attracted investment interest from a group of US-based investors in the transportation field. According to the company's website, they are currently seeking funding from professional/strategic investors in the >$5million range.