Tidal Metals raised $8.5 million in a Series Seed funding round led by DCVC to develop a commercial pilot plant for extracting magnesium metal from seawater.
Sep 19, 2024•10 months ago
Amount Raised
$8.5 Million
Round Type
seed
Investors
Bidra Innovation VenturesFirst Spark VenturesDcvc
Description
Tidal Metals has completed an $8.5 million Series Seed funding round led by DCVC, with participation from First Spark Ventures and Bidra Innovation Ventures. The funds will be used to develop and construct a commercial pilot plant aimed at demonstrating a breakthrough technology for extracting magnesium metal from seawater.
Funding Insights
Based on industry dataVC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers