News Briefs

Arolytics closes seed deal led by BDC Capital’s sustainability fund

Arolytics is a Calgary-based provider of methane software and data analytics solutions for the oil and gas sector.

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  • The round was led by BDC Capital’s new C$150 million sustainability venture capital fund, marking its inaugural investment
  • Accelerate Fund III, managed by Yaletown Partners, Metiquity Ventures, StartupTNT and an unidentified Houston-based strategic investor also participated
  • The funds raised will help Arolytics accelerate development and deployment of its integrated methane management software and methane forecasting model

Arolytics, a Calgary-based provider of methane software and data analytics solutions for the oil and gas sector, has raised undisclosed seed financing.

The round was led by BDC Capital’s new C$150 million sustainability venture capital fund, marking its inaugural investment. Accelerate Fund III, managed by Yaletown Partners, Metiquity Ventures, StartupTNT and an unidentified Houston-based strategic investor also participated.

Arolytics was founded in 2018 by a team of methane experts. The funds raised will help the company accelerate development and deployment of its integrated methane management software, AroViz, and methane forecasting model, AroFEMP. The products are designed to address critical environmental challenges for the energy industry – specifically methane emissions management.

Specifically, the funds raised will be used for product innovation, US market expansion and personnel hiring.

‘’Methane accounts for about 20% of global GHG emissions, and about 30% of global temperature increase. Effective methane emissions management is critical to meeting Canada’s net-zero emissions target, ‘’ Anamika Mukherjee, a partner at BDC’s sustainability venture capital fund, in a statement. ‘’We are thrilled to support Arolytics in its mission to provide methane emitters with a comprehensive platform to substantially improve the accuracy and forecasting of their emissions data – and help them build ambitious and impactful management strategies.’’

BDC Capital is the investment arm of BDC, Canada’s business development bank. The Montreal-based firm has more than C$6 billion under management.