RtTech Software, a Moncton, Canada-based company that specializes in real time products that turn industrial data into information that can be used to improve efficiencies, raised $3m in Series A financing.
The round was led by McRock iNFund, an Industrial Internet of Things (IIoT) venture capital fund managed by McRock Capital, with participation from existing investor New Brunswick Innovation Foundation. As part of this financing, Scott MacDonald and Whitney Rockley, the co-founders of McRock, have both joined RtTech’s Board of Directors.
The company intends to use the funds to add new features to its apps.
Led by Pablo Asiron, CEO, RtTech develops and markets software apps that provide Operational Intelligence for industrial facilities. The company offers two main solutions:
RtDuet, a real-time software app designed to improve equipment availability and utilization in industrial facilities like manufacturing and power generation, and
RtEMIS, an energy management information system designed to reduce energy consumption.