Impossible Metals Analysis: $2M Raised
What is Impossible Metals?
Impossible Metals builds underwater robotics that selectively collect polymetallic nodules from the seabed. The company says its system uses AI and hovering autonomous vehicles to avoid disturbing marine life and sediment. It identifies itself as a YC W22 company and a Certified B Corp.
Location
2265 E Foothill Blvd, San Jose, California 95126, United States
Employees
11-50
Founded
2020
Product Features & Capabilities
- Robotic Collection System, Eureka I Autonomous Underwater Vehicle, Eureka II Autonomous Underwater Vehicle, Eureka III Test for seabed harvesting, Hovering Selective Harvesting Robot
How much Impossible Metals raised
Funding Round - $2M
September 2021Lead Investor: Not specified in the sources.
Who are the founders of Impossible Metals
Business Model
Partners with companies for deep-sea mineral exploration and sells refined metals.
Market Focus
Impossible Metals primarily focuses on the market of critical minerals, specifically through responsible seabed harvesting to support a green, circular economy.
Investors
- New Venture Order
- Noveus Capital
- Park Capital
- Palrecha Capital
- Pareta Ventures
- Quiet Ventures
- Rebel Fund
- Soma Capital Fund
Competitors Overview
Impossible Metals operates in the seabed harvesting and critical minerals market, focusing on sustainable practices. Its main competitors include:
- Cobalt Seabed Resources: Engaged in deep-sea mining, focusing on cobalt extraction, which is crucial for battery production.
- Adepth: Specializes in deep-sea mining technologies and methodologies, aiming to minimize environmental impact.
- Scandinavian Ocean Minerals: Focuses on sustainable extraction of minerals from the seabed, emphasizing ecological responsibility.
- China Ocean Mineral Resources Research and Development Association (COMRA): A state-backed entity with significant resources and government support, focusing on deep-sea mineral exploration.
- Global Sea Mineral Resources (GSR): Engages in deep-sea exploration and exploitation, utilizing advanced marine technology.
- The Metals Company (TMC): Recognized as a leader in deep-sea mining, TMC has strong funding and regulatory positioning, giving it a competitive edge.
- Transocean: Known for its offshore drilling expertise, it brings significant operational experience to the deep-sea mining sector.
- KoBold Metals: Utilizes AI and data aggregation for mineral exploration, focusing on critical minerals for clean energy technologies.
- American Battery Technology Company (ABTC): Dedicated to sustainable sourcing of battery materials, aligning closely with Impossible Metals' goals.
- Nth Cycle: Focuses on innovative metal processing technologies for recovering critical minerals.
- GreenMet: Develops infrastructure for sustainable supply chains for rare earth and critical minerals.
Notable differences include TMC's advanced funding, COMRA's government backing, and KoBold's use of AI, which provide these competitors with distinct advantages in the market.
See something that needs updating? Suggest edits to this profile.