Hitachi invests in Rithmik Solutions

Hitachi Construction Machinery Co. Ltd. has made an investment Rithmik Solutions, a supplier of AI-powered performance analytics for mobile mining equipment, as part of Rithmik’s latest financing round.

The minority investment was said to mark a milestone in the collaboration between Rithmik and Hitachi Construction Machinery. Together, the companies said they aim to advance the next generation of smart mining by combining Rithmik’s real-time fleet and asset-level insights with Hitachi Construction Machinery’s global presence and commitment to digital transformation.

“This investment marks an important step towards Hitachi Construction Machinery’s goal of building open digital platforms with various partners,” said Eiji Fukunishi, vice president and executive officer, president of the Mining Business Unit at Hitachi Construction Machinery. “Combining Rithmik’s advanced, AI-powered data analysis technology with Hitachi Construction Machinery’s insight will help us provide more flexible solutions to our customers as well as contribute to increased productivity and reduced environmental impact at mining sites.”

Rithmik’s AI-powered analytics turn complex fleet data into results for open-pit operations. (Photo: Rithmik via Business Wire)

Rithmik offers technology that is OEM-agnostic, supports mixed fleets and provides high-resolution analytics across all major mining equipment brands. Hitachi Construction Machinery recognizes that mining customers increasingly require site-wide solutions capable of supporting their entire fleet, regardless of manufacturer. The companies see this alignment as a key advantage for customers seeking interoperability, flexibility, and the ability to scale digital solutions across complex operations.

The Series A round also includes participation from Chrysalix Venture Capital, Sprout Fund, Fonds Ecofuel, Phoenix Fire, and Developer Capital. This investment is expected to allow the Based in Montréal, Quebec, Canada-based Rithmik to scale more quickly, support a growing customer base, and continue expanding its product suite for mining fleets.

“We’re honored to collaborate with Hitachi Construction Machinery, a company that shares our dedication to innovation, operational excellence, and collaboration,” said Ross Barichievy, CEO of Rithmik Solutions. “By leveraging Hitachi Construction Machinery’s global presence with Rithmik’s expertise in mining analytics, we aim to deliver unprecedented performance, reliability, and sustainability to customers worldwide.”

Rithmik said its technology aligns operations and maintenance of mobile equipment around high-impact priorities. Its analytics go beyond predictive maintenance, turning complex equipment data into clear, actionable guidance that improves fleet performance, prevents failures earlier, and drives measurable gains in production efficiency and maintenance effectiveness. The financing will accelerate Rithmik’s global expansion, product development, and integration into additional digital mining ecosystems.

“This partnership strengthens our ability to support miners who are navigating rising production pressures, decarbonization commitments, and increasingly complex operational environments,” said Barichievy. “By working with partners like Hitachi Construction Machinery, we can help the industry transition toward more sustainable, data-driven operations.”

Rithmik Solutions was founded in 2017 by Kevin Urbanski, Amanda Truscott and Kris Isfeld. Hitachi Construction Machinery first invested in the company in 2020.