Toronto, ON – December 16, 2025
Assetflo announced it has raised $2 million USD in a seed financing round led by GreenSky Ventures, with participation from Mega Innovation Ltd., Geotab Inc., and other angel investors. The proceeds will be used to expand deployments with enterprise customers and advance the company’s patented mesh network technology for asset tracking.
Industries such as logistics, warehousing, and manufacturing face significant inefficiencies and rising costs from lost, misplaced, or poorly monitored assets. Assetflo has developed an IoT-based tracking system that enables real-time and low-cost location monitoring in both indoor and outdoor environments. The system uses a software-based ad hoc mesh network that integrates active and passive sensors. This reduces installation requirements by limiting the number of connected nodes and by leveraging existing hardware where available.
Assetflo’s technology has been deployed through the support of various integration partners at several Fortune 500 companies. Use cases have included pallet and cage tracking at fulfillment centres, machine and equipment tracking in industrial manufacturing facilities, and parcel tracking.
“Assetflo has established customer adoption with Fortune 500 customers and has advanced its technology to support scale. The company’s platform addresses a clear need for accurate and cost-efficient asset tracking, and we look forward to supporting its next phase of growth.” said Valdis Martinsons, Chief Technologist at GreenSky Ventures.
With this additional funding, Assetflo will rapidly scale its go-to-market strategy and expand its research and sales teams. “This funding will allow Assetflo to continue to scale its best-in-class asset tracking technology through increased deployment with some of the world’s largest companies. We would like to thank GreenSky for leading this round, and we can’t wait to see what we will accomplish together.” said Elie Makhoul, Chief Technology Officer at Assetflo.
About Assetflo
Assetflo is a developer of mobile IoT solutions for monitoring the precise location and condition of assets, inventory, and equipment in both indoor and outdoor environments. Its patented technology provides solutions for logistics, transportation, and construction companies using Assetflo for mass asset tracking. Based in Toronto, Canada, Assetflo was founded in 2019 and is led by a team of industry veterans and technology leaders. Learn more at assetflo.com.
About GreenSky Ventures
GreenSky Ventures is a venture capital firm that invests in early-stage Canadian technology startups. Through its six affiliated GreenSky Accelerator Funds I–VI, the firm provides capital and strategic guidance to high-growth potential companies. Learn more at greensky.vc.
