Reykjavik-based DTE raises €16 million to optimize and streamline metal industry operations
Summary
This latest operation completes the Series A2 financing round initiated earlier this year, in which the Icelandic deep tech innovator secured a €10 million first close from aluminum industry leader Novelis, VC firm Metaplanet and the EIC Fund, as well as previous investors Chrysalix Venture Capital and Brunnur Ventures. “We’re thrilled to successfully close a meaningful series A2 round of €16 million this year, in a challenging funding environment,” said Karl Matthiasson, CEO and Cofounder of DTE. “This milestone powerfully endorses our innovative technology’s impact in optimizing and streamlining metal industry operations.“ Founded in 2013, DTE’s breakthrough real-time elemental analysis technology, featured in a recent CBS News documentary, complements and replaces current slow, expensive, and manual methods for process and quality control. Melt composition information from all critical process points – from reduction cells and transport crucibles to furnaces and launders – is fed into DTE’s cloud analytic platform, which transforms these signals into high-value, predictive decision-making insights. This breakthrough capability provides enhanced process control and decision support, empowering manufacturers and metals producers with unprecedented real-time information.