DTE Secures $10M Funding Anchored by Industry Leader Novelis and the EIC Fund – DTE – Metals Intelligence
Summary
The raise includes a distinguished group of investors, with participation by aluminum industry leader Novelis, venture capital firm Metaplanet and the European Innovation Council (EIC) Fund, along with existing investors Chrysalix Venture Capital and Brunnur Ventures.DTEs first-in-industry, in-line elemental analysis technology complements and replaces current slow, expensive, and manual methods for process and quality control. We are impressed by DTEs unique technology and the potential of their actionable decision support platform to optimize production in the metals industry, said Marcin Nowak from the EIB, leading the investment on behalf of the EIC Fund. The EIC Fund is proud to support DTE to create value opportunities as well as streamline and improve efficiencies within the operations of one of Europes most energy intensive and emissive industries. Founded in Vancouver, Canada in 2001, and with offices also in Delft, Netherlands, Chrysalix has built its reputation on bringing disruptive innovation to the worlds largest industries by focusing on where technology meets physical science. The firms investments include breakthrough technologies like smart mining, power conversion chips, sensors for process automation and control, fast charging electric vehicle infrastructure, battery intelligence, CO2 capture, wastewater management, and fusion energy.