COMPANY INFO
Mitico, officially known as Mitico, LLC, was founded in 2022 by Clément Cid, Alan Gu, and Leopold Dobelle. The company has about 10 to 15 employees and operates in the Environmental Services industry with a focus on mitigating carbon emissions through innovative and comprehensive solutions, including granulated metal carbonate sorption technology for industrial point-source carbon capture. Their website is https://www.mitico.tech. Mitico aims to play a pivotal role in global climate change efforts by offering services that span the entire carbon capture value chain, initially targeting natural gas power plants to capture carbon dioxide emissions at a lower cost than conventional technologies.
Mitico, officially known as Mitico, LLC, is an environmental services company founded in 2022 by Clément Cid, Alan Gu, and Leopold Dobelle. Headquartered in Los Angeles, Mitico has a team of about 10 to 15 employees and operates globally, with additional offices in Switzerland to support European operations. The company specializes in mitigating carbon emissions through innovative solutions, notably its patented granulated metal carbonate sorption technology. This technology enables efficient point-source carbon capture, initially targeting natural gas power plants to reduce CO2 emissions more cost-effectively than conventional methods.
Since its establishment, Mitico has successfully navigated multiple funding rounds, raising a total of $11.9 million over three rounds. The company's funding strategy has focused on securing capital to fuel both technology development and commercial scaling. Key milestones include their seed round to launch the core technology, followed by substantial Series A investments supporting product development and broader industry deployment. Mitico has steadily attracted notable investors aligned with their mission of advancing decarbonization in industrial sectors.
This Series A round was led by Exergon and AP Ventures and is aimed at scaling Mitico's granulated metal carbonate sorption technology for industrial carbon capture and enabling commercial scaling efforts.
Mitico's second Series A round focused on product development and early-stage growth, providing capital for expanding research, pilot projects, and operational capabilities.
The seed round, led by SOSV and Caltech, provided initial funding to launch Mitico and drive early technology development, laying the groundwork for future commercial applications.
Exergon led Mitico's most recent Series A round, supporting the company’s efforts in scaling and commercial deployment of its breakthrough carbon capture technology.
As a co-lead in the latest Series A round, AP Ventures brings strategic industry expertise and funding to accelerate Mitico's technology rollout and market reach.
SOSV led the seed funding round for Mitico, fueling technology development and early product validation that enabled subsequent larger-scale funding.
Caltech, as both an investor and the academic origin of Mitico's core technology, played a critical role in the seed round, supporting foundational research and the initial company launch.
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