Moncton-based RtTech Software recently announced a $3 million Series A investment led by McRock Capital, with participation from the New Brunswick Innovation Foundation (NBIF). The company specializes in developing real-time tools for the manufacturing industry to assist them to understand its data to improve efficiencies.
At the time, Pablo Asiron, CEO of RtTech Software, stated, “This funding could not have come at a better time as we look to capitalize on the exploding Industrial Internet markets.”
The good fortune continues for RtTech as it’s been honoured by the CVCA (Canadian Venture Capital & Private Equity Association) as the BDC Innovation Award winner for 2015 for its industrial app development. RtTech’s software has been launched in 14 countries, in operation by 24 blue chip companies within 55 industrial sites.
BDC notes that this award is given to an early-stage Canadian company who “demonstrated the ability to bring innovation to market, while reshaping a sector or industry in new and unexpected ways.”
“RtTech is yet another example of exciting developments in Canada’s startup community where our young companies are driving innovation in ICT that are revolutionizing industry,” says Mike Woollatt, CEO, CVCA. “Canada has a vibrant VC-backed technology sector, and we expect to see many more success stories rise to the surface in the coming years.”