Arolytics founding team, L-R: Emmaline Atherton, David Risk, Liz O’Connell
Arolytics, an emissions software and analytics company, is pleased to announce the close of an oversubscribed $710K CAD seed financing round.
Arolytics has developed software that discloses emissions performance and leverages data to optimize reduction opportunities. Between new regulations and rapidly increasing ESG pressure, emissions management is an increasing concern for the energy sector. With over $1 billion in federal and provincial government funding committed to emissions reduction in 2020, Arolytics is positioned to be a market leader in helping oil and gas firms meet reduction targets.
As the winners of Startup TNT’s inaugural Calgary Investment Summit in November, Arolytics received investment from a pool of Alberta-based investors. Additional financing from Calgary-based M-Tech Innovations and Metiquity Ventures, and a convertible note from Halifax-based Volta Investments Limited Partnership rounded out the total. Representatives from both M-Tech and Metiquity will be joining the Arolytics board, and we look forward to leveraging their substantial expertise.
2020 saw strong growth for the company, with highlights including:
- Launched the AROviz software
- Doubled the team size
- Commercialized products and services that enabled some of Canada’s largest oil and gas producers to significantly cut costs via strategic emissions management
- Graduated from the Creative Destruction Lab – one of Canada’s top accelerators
Moving full speed ahead in 2021, the capital will enable Arolytics to scale quickly and meet client needs in this time-sensitive market. Stay tuned for job postings in the coming month!
With proprietary algorithms and emissions modelling, Arolytics has developed AROviz, a SaaS platform that optimizes energy sector emissions management while unlocking significant cost savings. Aggregating data from any sensor or source, the platform manages greenhouse gas emissions for compliance, disclosure, and ESG purposes, equipping everyone from the field to the board with readily available and verified emissions information. Formed in 2018, Arolytics originated out of one of Canada’s largest emissions research labs. Company operations are located in both Halifax and Calgary.