Nordic Secondary Fund invests in metals analytic leaders DTE
Nordic Secondary Fund has invested in DTE a leading innovator in process and quality control for the metals production and manufacturing industry. We have acquired common shares from a selected group of DTE's initial shareholders for $2.4M. This is the first investment in Iceland, from the first and only fund in the Nordics to exclusively invest in secondaries.
“I am extremely proud and happy for some of our earliest common shareholders to finally be rewarded for supporting DTE, having been with us right from the beginning,” says Karl Matthíasson, CEO and one of the two founders of DTE. “This investment also reflects a profound belief in the mission that DTE is on to revolutionize the metals production industry”.
Peter Sandberg, Founding Partner of Nordic Secondary Fund, states: "We are very proud to join as investors in DTE, as we have been in dialogue with Karl for over two years, waiting for the opportunity to buy Secondaries from existing shareholders seeking liquidity. We believe that the business area DTE operates in is incredibly interesting, and in connection with its latest external funding round this year, the company has strengthened its already strong investor base with names such as Novelis, Metaplanet, and European Innovation Council applicant support, and is thus in a very good position prepared for the onward journey.”
About DTE:
DTE is a leading innovator serving the global metals production and manufacturing industries with powerful real-time and predictive process control intelligence to maximize value, sustainability, safety, and efficiency for all stakeholders.
Composition sampling is critical for process control in metal production and processing. Still, until now, it has been manual and mostly empirical, requiring solid samples to be cast from the melt. DTE replaces these slow, expensive process and quality control methods with our breakthrough contactless in-process solution, which delivers reference-grade elemental analysis directly from the high-temperature molten metal for live process analytics.
- For more information, please visit www.dte.ai