Rivercity Innovations (RCI), an Internet of Things (IoT) startup based in Saskatoon, has raised $2 million CAD in funding to expand its cold chain monitoring solutions globally.
The funding round was led by StepChange Capital, with participation from Startup TNT, WestCap’s Golden Opportunities Fund, WTC Ventures, and Wieger Holdings. RCI’s technology helps restaurants, stores, and pharmacies in Europe and the Gulf region, like Dubai and Saudi Arabia, prevent food spoilage by automating temperature tracking.
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Revolutionizing Cold Chain Monitoring with IoT
Founded in 2017 by Jeff Shirley and Lance Pitka, Rivercity Innovations uses long-range radio (LoRa) technology to monitor temperature, moisture, and humidity over vast distances with minimal power usage. This enables businesses to digitize cold chain data, streamlining compliance and providing early warnings for temperature fluctuations. The funds will be used to expand RCI’s sales team and further its growth in Europe and the Gulf region.
Innovative Solutions and Global Expansion
RCI is also set to launch a hybrid IoT-satellite GPS tracking solution in Q1 2025 in partnership with French satellite operator Kineis. This solution will provide low-cost GPS positioning and temperature monitoring for transoceanic freight shipments, using a small sensor with a 10-year battery life.
