DT Equipment ehf., a Reykjavik, Iceland-based developer of analytics technology for metals production and processing, closed a Series A financing of undisclosed amount.
Backers included Chrysalix Venture Capital and Brunnur Ventures.
Founded in 2013 and led by Sveinn Gudmundsson, CEO, DTE addresses the need to complement and replace current slow, expensive and manual methods for process and quality control with real-time, in-line analysis of trace materials. DTE’s platform combines fully automated elemental analyzers, generating real-time data, reference quality elemental composition direct from liquid metal with a software analytics platform for pro-active and predictive process control.
Real-time process feedback offers substantial opportunities, including improved production efficiency, energy and process cost savings from faster, more frequent measurements and improved operator safety through limiting the need for human intervention.