Saskatoon-based Rayhawk Technologies has closed a $3-million seed round for its autonomous rail car loading technology.
Rayhawk said the round was led by Emmertech, Conexus Venture Capital’s AgTech fund, and did not disclose any other investors. The company said it will use the funding to further the commercialization of its technology. BetaKit has reached out to Rayhawk for more details on the round but did not hear back by press time.
Rayhawk’s proprietary technology uses sensors on a crane-like structure to automate the opening, inspecting, closing, and sealing of cargo railcar lids. The company says its technology can run all day, every day and prevents people from having to work in the hazardous environment on top of a railcar, averting risks such as falls, crush points, and weather.
Railways carry a large amount of Canada’s raw goods like grains, ores, and food across the country. According to Statistics Canada, railcars carried more than 30.7 million metric tonnes of goods in the country in November 2024, 7.5 million of which were iron ores, concentrates, and coal.
RELATED: Emmertech closes $60 million to grow “dominant” Canadian AgTech companies
The company said it would use its new funding to scale its operations to meet customer demand, with a focus on grain terminals, food processing plants, port facilities, and mining sites.
“We see great potential for Rayhawk to redefine industry standards and, based on my own personal experience flipping rail car lids at a grain terminal, to make a real, positive impact in the industry,” Emmertech managing partner Kyle Scott said in a statement.
Rayhawk revealed it had also previously secured $450,000 in 2022 through Innovation Saskatchewan’s Saskatchewan Advantage Innovation Fund. In a statement, Warren Kaeding, the minister responsible for the provincial agency, said Rayhawk proves that the province can be a leader in developing and producing solutions that transform key industries like agriculture and mining.
Innovation Saskatchewan is also an anchor investor in Rayhawk’s lead investor Emmertech, having contributed $15 million to its AgTech fund. The fund closed in 2021 with the aim of fuelling early-stage investment in the AgTech sector and making Canada a “dominant” player on the global stage. Emmertech has invested in companies such as Kitchener-Waterloo, Ont. farm management software startup IntelliCulture and mushroom-picking robot startup 4AG Robotics.
Feature image courtesy Rayhawk Technologies.