Charlottetown-based Tracktile, which brings operational intelligence to food and beverage manufacturers, has closed a $1.25 million seed round that will accelerate plans to offer AI-driven operating systems to clients.

The company issued a press release this week saying the round was led by the BDC Seed Venture Fund and Island Capital Partners, with participation from Toronto-based Graphite Partners, BDC and Island Capital previously invested in the company through its $575,000 pre-seed round, which closed in July 2024.

Founded in 2019 by Chief Executive Jordan Rose and Chief Technology Officer Jarred Kennedy, Tracktile offers a suite of tools for managing operations, such as inventory tracking, traceability of ingredients and smart hardware. With the advent of generative artificial intelligence, the company has recently been launching AI-driven products to help clients become more efficient.

“It’s an evolution really,” said Rose in an interview Tuesday. “The new technology is just improving on what we’ve always done. Our company mission is still what we set out to do which is to bring the best technology to the food and beverage manufacturing industry.”

We first reported on Tracktile in the summer of 2024, when the team won Propel’s Gerry Pond Award, given to the company in Propel’s programs that achieved the greatest success in implementing repeatable sales strategies. As the company has grown (it now has 17 employees) and included AI in its offering, it has maintained its culture of sales and even improved the processes.

In the last year, Tracktile has grown 900 percent year-over-year in terms of recurring revenue. “It’s just a testament to  . . .  improving every metric in the sales process,” said Rose. He added that he’s stepped back from sales duties in the past few months and the account executive who filled the gap has closed more sales than Rose himself did previously.

“At Graphite, we look for founders who intimately understand a customer’s pain point and deliver software that becomes indispensable in their daily operations,” said Graphite Ventures General Partner Craig Leonard in the statement. “Tracktile fits that profile perfectly. The team's deep domain expertise, the mission-critical nature of their platform, and the consistently strong feedback from operators are exactly what we look for in companies. With strong capital efficiency and accelerating momentum, they’re demonstrating the ability to scale with discipline while building a durable business.”

According to the company’s announcement, the new capital will be used to expand product development and scale Tracktile’s AI capabilities, which are designed to provide manufacturers with real-time operational data. The company says its system can automate data capture, identify production issues earlier and generate predictive insights aimed at improving yield, traceability and plant efficiency.

Tracktile’s platform digitizes production runs, traces materials in real time and streamlines internal documentation such as audits and recall procedures. The company reports that customers using its software have recorded improvements including more accurate inventory tracking, faster onboarding for new staff and reduced waste through quicker decision-making on the production floor.

The seed round will also support the expansion of the company’s sales efforts and its growth in North American markets. Though Tracktile has focused on small and mid-sized food and beverage producers, the company said it plans to extend its technology into other manufacturing sectors with similar operational challenges.

Said Rose: “This is really just an inflection point for us. We have goals for growth of 5x over 2026 in terms of total revenue. It’s just a matter of heads down and getting it done.”