Rithmik Solutions, a Montreal, Canada-based company that provides AI-powered analytics tailored for mobile equipment optimization, secured $2 million in a funding round.
Investors
The investment was spearheaded by a syndicate of new and existing investors. The funding round also saw participation from Cycle Momentum, DevCap, angel investors from AngelOne and the Golden Triangle Angel Network, and Archangel’s Adrenaline Fund, with strong support from previous investors Chrysalix Venture Capital and Ecofuel.
Rithmik Solutions Use of Funds
The company will use the funds to expedite its growth trajectory.
About Rithmik Solutions
Founded by Kevin Urbanski, Amanda Truscott, and Kris Isfeld, Rithmik Solutions is a mining technology company that leverages artificial intelligence (AI) for the predictive maintenance of mobile mining equipment. Their flagship product, the Asset Health Analyzer (AHA™), employs cutting-edge machine learning techniques to provide early warnings of equipment issues, streamline maintenance operations, and offer insights into operational aspects impacting asset performance. By seamlessly integrating with existing systems and providing vendor-independent insights, Rithmik empowers mines to cut through the noise and focus on what matters most: operational excellence and sustainability.
Funding Details
Company: Rithmik Solutions
Raised: $2.0M
Round: Unknown
Lead Investor: Undisclosed
Additional Investors: Cycle Momentum, DevCap, angel investors from AngelOne and the Golden Triangle Angel Network and Archangel’s Adrenaline Fund, Chrysalix Venture Capital, Ecofuel
Company Website: https://rithmik.com/
Software Category: Predictive Maintenance
Source: https://www.businesswire.com/news/home/20240321507090/en/Rithmik-Solutions-Secures-2-Million-in-Funding-to-Revolutionize-Mobile-Mining-Equipment-Management