DTE Concludes a Total Investment Round of $16M in 2023
DTE has successfully managed to close a $16M Series A round in 2023
Series A2 boosted by additional $6M from Eyrir Vöxtur and EIC Fund.
DTE has successfully extended its current investment round with participation from growth investor Eyrir Vöxtur, alongside existing backers, the European Innovation Council (EIC) Fund.
This latest operation completes the Series A2 financing round initiated earlier this year, in which the Icelandic deep tech innovator secured a $10M 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.
The infusion of capital, following partnerships with industry leaders like Novelis, will fuel DTE's expansion in production and delivery, bolster its global sales network, and widen the focus to a variety of manufacturers using cast parts, such as the automotive and construction industry, where quality is crucial.
“We're thrilled to successfully close a meaningful series A2 round of $16M this year in a challenging funding environment”, stated Karl Matthiasson, CEO and Cofounder of DTE. "This milestone powerfully endorses our innovative technology's impact in optimizing and streamlining metal industry operations.“
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