Rithmik Solutions, a Montreal, Canada-based company which specializes in AI-powered analytics for mobile equipment optimization in the mining industry, raised $2M in funding.
Backers included Cycle Momentum, DevCap, angel investors from AngelOne and the Golden Triangle Angel Network and Archangel’s Adrenaline Fund, and previous investors Chrysalix Venture Capital and Ecofuel.
The company intends to use the funds to accelerate its growth, further enhance its product offerings, and expand its reach to help mines around the world maximize the efficiency and lifespan of their mobile equipment.
Rithmik Solutions offers AI-driven analytics for mobile equipment management for the mining industry. Its Asset Health Analyzer (AHA™) technology provides early and actionable detection of equipment issues, insights for maintenance planning, and intelligence to address operational inefficiencies. By integrating with existing systems and offering vendor-independent insights, the company empowers mines to focus on operations and sustainability.
FinSMEs
22/03/2024