Phaseshift Technologies, a Toronto, Canada-based advanced materials company specializing in the development and commercialization of alloys and composites, raised US$3M in Seed funding.
The round was led by Innospark Ventures, with participation from Draper Associates and follow-on investment from First Star Ventures, which had previously contributed to Phaseshift’s pre-seed round. As part of the funding round, Matt Fates, Partner at Innospark Ventures, has joined Phaseshift’s Board of Directors.
The company intends to use the funds to accelerate the development and commercialization of new materials addressing critical industrial challenges across a wide range of sectors, including aerospace, automotive, mining, energy, and advanced manufacturing.
Phaseshift Technologies is a materials company developing new engineering materials using AI. Utilizing its Rapid Alloy Design (RAD)™ platform, it accelerates the creation of new metallic alloys and composites tailored to solve specific industrial problems often overlooked by others. By focusing on practical applications across diverse sectors, the company makes advanced material solutions more accessible, helping industries overcome limitations related to efficiency and sustainability.
The company was co-founded by:
- Fazal Mahmood, Chief Executive Officer
- Dr. Gurjot Dhaliwal, Chief Technology Officer
- Dr. Abu Anand, Chief Scientific Officer
FinSMEs
21/10/2024