Olokun Minerals, a Los Angeles, CA-based provider of critical minerals and metals for various supply chains, raised $1.1M in Pre-Seed funding.
The round was led by Propeller, with participation from Textbook VC, as well as strategic angels.
The company intends to use the funds to accelerate growth, expand operations and its business reach.
Led by CEO Lacey Reddix and CTO Pilanda Watkins-Curry, Olokun Minerals is developing a solution that diverts harmful saline drainage water away from ocean life and marine ecosystems, while also providing critical minerals and metals for various supply chains. As water demand increases and sea levels rise, desalination becomes a more sought-after solution to provide clean water to communities, but it produces a brine waste three times saltier than the ocean that threatens sea life. Olokun Minerals captures that brine stream before it goes into the ocean and produces compounds that can be used in concrete to build infrastructure, fertilizers for agriculture, and batteries for electronics and vehicles.
The company is working with partners in water treatment as well as the energy and mining sectors to identify and recover metals of value from their wastewater.
FinSMEs
06/02/2023