Impossible Mining Closes $10.1 Million in Seed Funding, Announces Key Advisors

Unimaginable Mining not too long ago closed $10.1 million in seed funding and introduced its key advisors. I not too long ago interviewed the CEO of Unimaginable Mining, Oliver Gunasekara, for a two-part interview sequence that may be seen right here and right here.

In keeping with the press launch, the funding was led by Justin Hamilton and had extra participation from a choose group of YC buyers. The purpose is is to develop and check the four-mile deep robotic assortment system and proceed the event of the corporate’s bio-extraction expertise.

Hamilton shared ideas concerning the battery markets being fueled by the expansion in EVs and emphasised the significance of trying to the seabed, because it has the most important international useful resource of battery metals.

“Lithium-ion battery markets will enhance tenfold within the subsequent decade, fueled by development in EVs. The deep seabed incorporates the most important international useful resource of battery metals. The Unimaginable Mining staff has demonstrated its robotics expertise exhibiting the capabilities for selective pickup, rising to the problem of accessing these metals in an environmentally accountable means.”

Oliver Gunasekara, CEO and co-founder of Unimaginable Mining, highlighted the significance of the U.S. having impartial and safe entry to battery metals.

“The US wants impartial, safe entry to important battery metals. We’re excited to speed up the manufacturing of our deep water robots with this injection of capital, and to show to each regulators and stakeholders that we are able to obtain what dredge-based expertise can’t — the preservation of the seafloor atmosphere.”

In my current interview with Oliver, he instructed me that what led him to cofound Unimaginable Mining was an occasion that occurred on land — distant from the deepest components of the oceans the place these important polymetallic nodules lay. Oliver lives within the Bay Space, and in 2020, that space was impacted by the worst wildfires he’d ever skilled.

“The sky went orange and I do know it was fairly well-documented. The air high quality was dreadful. And at that time, I actually type of instructed myself that if I’m going to do one other firm — one other startup — it must be within the local weather tech house as a result of I actually really feel that we don’t have an enormous period of time to make an affect on the local weather disaster.”

Portland, Oregon wildfire smoke. Picture courtesy of Joe Wachunas.

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