- Othersphere, a trailblazing startup, secures $3 million in seed funding to support the launch of a location optimization platform for sustainable commodity infrastructure.
- The platform utilizes a patent-pending technology to pinpoint ideal locations for commodity production assets based on economics, emissions, and compatibility with local environments.
- The funding round was spearheaded by Active Impact Investments and saw contributions from Thin Line Capital, KDX, and Keiki Capital.
Othersphere, a pioneering startup specializing in location optimization for sustainable commodity infrastructure, has announced the successful close of a seed funding round amounting to $3 million CAD. The company has developed a patent-pending platform that helps identify the most favorable locations for commodity production assets, taking into account economic factors, emissions, and suitability with local surroundings.
The platform will initially serve project developers, offtakers, and financiers, starting with hydrogen and gradually expanding to include other physical commodities.
Funding and Support
Active Impact Investments led the funding round, with additional investments from Thin Line Capital, KDX, and Keiki Capital. Othersphere’s innovative technology, which indexes the globe based on commodity, human, and environmental variables, has also received support from Google for Startups, the Industrial Research Assistance Program (IRAP) from the National Research Council of Canada, and Breakthrough Energy’s Fellows program, which is a fellowship focused on accelerating the commercialization of potential breakthrough climate technologies.
Revolutionizing Climate Tech
Othersphere’s Software as a Service (SaaS) product, which is currently in closed beta development, promises multiple advantages, including increased team efficiency, improved project outcomes, stakeholder alignment, transparent methodology, and accelerated decarbonization. The platform aims to enhance the scale of low-emission commodities essential for clean energy transition and to streamline the process of locating climate technology projects.
Notably, Mike Winterfield, Managing Partner at Active Impact Investments, and Ashley Grosh, VP of Breakthrough Energy Fellows, expressed their confidence in Othersphere’s potential to significantly impact the acceleration of decarbonization and aid in solving our collective climate challenge.
A Word from the CEO
Robert Murphy, Othersphere CEO, expressed gratitude to the investors and emphasized the platform’s capacity to reduce project risk, improve stakeholder alignment, and help unlock trillions of dollars needed to deliver sustainable, equitable global prosperity.
For more information about Othersphere and its innovative platform, visit www.othersphere.io.