Reykjavík-based DTE, an innovator in decision support for the metals production and manufacturing industry, announced that it has secured $10M in a Series A2 round of funding.
The investment came from aluminium industry leader Novelis, VC firm Metaplanet, and the European Innovation Council (EIC) Fund.
DTE says it will use the funds to further accelerate its innovation and expand its reach.
Founded in 2013, DTE’s aim is to improve the metals sector by contributing to the 1.5-degree challenge and driving its digital transition to Industry 4.0 with next-gen elemental analysis technologies and metal intelligence.
DTE provides real-time and predictive process control knowledge to the metals production and manufacturing sectors in order to maximize value, sustainability, safety, and efficiency for all stakeholders.
According to the firm, composition sampling is crucial for process control in metal manufacturing, processing, and casting. But it has been manual and mostly empirical, requiring the casting of solid samples from the melt.
DTE’s laser-induced breakdown spectroscopy (LP-LIBS) platform improves decision support by replacing slow, expensive, and manual methods for process and quality control.
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