DT Equipment Closes Series A Financing with Chrysalix Venture Capital

DT Equipment, a developer of next-generation analytics technology for metals production and processing, closed a Series A financing with the new participation of Chrysalix Venture Capital and a follow-on investment from Brunnur Ventures.

“We are delighted to welcome Chrysalix onboard as industry-focused investors who not only bring a wealth of both technical and early-stage business-building experience to the table, but do so with a highly collaborative and collegiate joint-team approach,” Sveinn Gudmundsson, CEO of DT Equipment, said. “We look forward to continuing to working closely together to further advance our world-leading analytics technologies for metal production and processing, and bringing these to market for customers worldwide.”

Chrysalix Venture Capital is a global venture capital fund with a history of commercializing step-change innovation for resource intensive industries. The Chrysalix RoboValley Fund invests in intelligent systems enabled by AI, IoT and sensor technologies to achieve improvements in productivity and business processes. Investors in the fund include Fortune 500 companies, corporations, financial institutions, family offices and universities, and a cluster of metals producers, such as South32, Severstal and Mitsubishi.

“Chrysalix is making metals and mining innovation, with resource productivity and intelligent systems, a major theme of our new fund. Working with our strategic investors and high potential startups, we accelerate new step-change solutions into the mainstream market,” Richard MacKellar, managing partner at Chrysalix Venture Capital, said. “DTE’s technology enables accurate real-time sampling of liquid metal in primary and secondary aluminum production. Compositional information in real-time results in increased production and quality, reduced costs and energy savings for aluminum producers. This is in line with our investment thesis of using intelligent systems to improve the economics, efficiency and environmental sustainability of resource intensive industries, while creating significant value for customers.”

Aura Capital Partners acted as corporate advisor to DT Equipment, which was founded in 2013 and is based in Iceland.

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