Industrial process and quality control equipment maker Dynamic Technology Equipment has raised ~$1.1 million (135m ISK) from venture capital fund Brunnur. This is announced on the website of Einar Gunnar Guðmundsson, who is Chairman of the Board at SER Holding, the Startup Energy Reykjavik investment company.
The company develops specialized industrial equipment aimed at the aluminum smelting industry. The products optimize production processes and help aluminum smelters reduce costs.
DTE has previously received a ~$200K (25m ISK) grant from the TDF and participated in Startup Energy Reykjavik in 2014.
This marks the first announced investment we’ve recorded in Q2 2016, and the first investment by Brunnur in 2016.