TLDR:
- Rithmik Solutions, based in Montreal, Canada, raised $2M in funding for their AI-powered analytics for mobile equipment optimization in the mining industry.
- The funding came from Cycle Momentum, DevCap, angel investors from AngelOne, the Golden Triangle Angel Network, Archangel’s Adrenaline Fund, as well as previous investors Chrysalix Venture Capital and Ecofuel.
Rithmik Solutions, a Montreal-based company specializing in AI-powered analytics for mobile equipment optimization in the mining industry, has raised $2M in funding. The funding came from a variety of sources, including Cycle Momentum, DevCap, angel investors from AngelOne and the Golden Triangle Angel Network, Archangel’s Adrenaline Fund, Chrysalix Venture Capital, and Ecofuel.
The company plans to use the funds to accelerate its growth, improve its product offerings, and expand its reach to help mines globally optimize the efficiency and lifespan of their mobile equipment. Rithmik Solutions offers AI-driven analytics through its Asset Health Analyzer (AHA™) technology, which provides early 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 aims to empower mines to focus on operations and sustainability. This funding will enable Rithmik Solutions to enhance its capabilities and continue to support the mining industry in achieving their goals.
