DTE Raises $10M in Funding
Summary
DTE, a Reykjavik, Iceland-based company which specializes in in decision support for the metals production and manufacturing industry, raised $10M in Series A2 funding. The round saw participation from Novelis, Metaplanet and the European Innovation Council (EIC) Fund, along with existing investors Chrysalix Venture Capital and Brunnur Ventures. The company intends to use the funds to further accelerate its innovation efforts and expand its reach. Led by Karl Matthiasson, CEO and Founder, DTE provides elemental analysis technology that complements and replaces manual methods for process and quality control. Its proprietary LP-LIBS sensor technology is capable of providing reference-level elemental analysis directly from high-temperature liquid metals in less than 60 seconds of sampling.