News Summary

Kitchener-Waterloo-based startup Assetflo has raised $2 million USD in seed funding to advance its IoT-based asset tracking system. The company, co-founded by Elie Makhoul and Noaman Makki, aims to make every physical asset searchable, leveraging its patented mesh network technology. Assetflo’s platform helps track assets both indoors and outdoors, using existing infrastructure to reduce costs. The funding round was led by GreenSky Ventures with contributions from Geotab and Mega Innovation. Assetflo’s solution is poised to enhance asset monitoring for logistics, manufacturing, and other industries by integrating machine learning to optimize connectivity methods. The startup plans to develop digital twins for greater asset visibility, aiming to address challenges in cost-efficiency, productivity, compliance, and security.