Edmonton, Canada-based engineering firm specializing in the design, production and operation of amphibious robots, Copperstone Technologies, raised USD 5.8 million in recent funding. The company announced the fundraise on December 14, 2022.
Boston-based investment firm focused on energy innovation and sustainability, WindSail Capital Group led the financing for the firm. The VC firm provided USD 3.5 million as capital for Copperstone Technologies. Meanwhile, Alberta Jobs & Growth Program and the Mining Innovation Commercialization Accelerator contributed USD 2.3 million of money for the firm.
Purpose of financing for Copperstone Technologies
With the latest capital injection, the company intends to invest in expanded production to reach new customers.
Copperstone Technologies aims to further facilitate a greater volume of equipment sales. Besides, it seeks the development of new models capable of tackling more demanding and specialized projects.
What the CEO of the company has to say
Craig Milne, CEO of Copperstone Technologies, said, “We are driven by the impact that our robots can have on human safety and for the good of our planet by reaching a net-zero world. Our partnership with WindSail Capital is an investment in a better future, and we’re so excited to be building a common vision with them.”
What the investor has to say
Matthew O’Rourke, Managing Director at WindSail Capital Group, further added, “We are excited to partner with Craig and the team at Copperstone to transform the way in which industrial customers utilize robotics and technology to drive changes in safety, sustainability and efficiency. Copperstone is an innovative technology and engineering platform using a unique set of solutions to solve complex problems in heavy industry, and we believe they are poised for significant growth.”
About the company
Jamie Yuen, Nicolas Olmedo and Stephen Dwyer launched the company in 2014. Copperstone Technologies is an engineering firm specializing in the design, production and operation of HELIX, an amphibious robot developed for environmental monitoring. The company primarily operated in North America through its Robotics-as-a-Service (“RaaS”) segment. It performed autonomous and unmanned monitoring and sampling projects critical to the mitigation of environmental and safety risks posed by mine waste tailings facilities. Copperstone Technologies’ HELIX robots address customers’ urgent and rapidly growing needs in tailings management without placing workers at risk. It is on a mission to develop innovative tools and experimental methods for earth’s most challenging environments.
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