Impossible Mining – Closes $10.1M Seed Funding and Announces Lead Advisors | Company

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SAN JOSE, Calif.–(BUSINESS WIRE)–June 21, 2022–

Mining not possible (YC W22), which is developing responsible seabed mining and refining technology, today announced the closing of an additional $10.1 million in seed funding led by Justin Hamilton with additional participation from ‘a select group of YC investors to develop and test the four-mile-deep robotic collection system and to continue to develop the Bio-Extraction technology.

“Lithium-ion battery markets will grow tenfold over the next decade, fueled by the growth of electric vehicles,” said lead investor Justin Hamilton. “The deep seabed contains the world’s largest resource of battery metals. The Impossible Mining team demonstrated its robotic technology showing the capabilities of selective collection, meeting the challenge of accessing these metals in an environmentally responsible way.

“The United States needs independent and secure access to critical battery metals. We are excited to accelerate production of our deep-sea robots with this capital injection and prove to regulators and stakeholders that we can achieve what dredge-based technology cannot – preservation of the environment. seabed environment,” said Oliver Gunasekara. , CEO and co-founder of Impossible Mining.

The list of investors includes the three former CEOs of ARM Holdings PLC (Mr. Simon Segars, Mr. Warren East and Sir Robin Saxby), existing investors Chalet.vc with the addition of Aureolis Ventures, CapitalX, Climate Collective, Futureland Ventures, Gaingels, Liquid 2 Ventures, Microventures, Newgen Venture, New Venture Order, Noveus Capital, Park Capital, Palrecha Capital, Pareta Ventures, Quiet Ventures, Rebel Fund, Soma Capital Fund, Starlight Ventures, Tango.vc, Y Combinator, Zillionize, plus a number of angel investors.

Impossible Mining also announces its top advisors:

Mr. Bob Galyen, former CTO of CATL

Mr. Dan Lankford, former CEO of AT&T Microelectronics – Europe

Mr. Justin Manley, AUV Design Expert

Mr. Simon Segars, former CEO of ARM and former board member of SoftBank

Mr. Phil Straw, CEO of SoftIron, Underwater Expert

Show source version on businesswire.com:https://www.businesswire.com/news/home/20220621005320/en/

CONTACT: MARCO LARSEN

M: 646.812.4444

[email protected]

KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA CANADA

INDUSTRY KEYWORD: NATURAL RESOURCES ROBOTICS BATTERY TECHNOLOGY MINING/MINING

SOURCE: Mining Not Possible

Copyright BusinessWire 2022.

PUBLISHED: 06/21/2022 06:00 AM / DISK: 06/21/2022 06:02 AM

http://www.businesswire.com/news/home/20220621005320/en

Copyright BusinessWire 2022.

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