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DIRECT-C CLOSES $3.9 MILLION SERIES A FROM HENKEL AND GREENSKY
The startup has secured a long-term commercial supply agreement with Henkel to procure and resell its tech—and Henkel’s venture arm has co-led Direct-C’s $3.9 million CAD Series A round, alongside Toronto-based GreenSky Capital.
The company opted to focus on oil and gas to start primarily because the startup is based in Alberta, which is known in part for the size and strength of its energy sector. But Banica sees applications for Direct-C’s tech beyond just oil and gas, including in the pharmaceutical processing industry to detect small, water-based leaks, which Direct-C is currently exploring.
Because its sensors are coating-based, Banica says that they can be deployed “in more unique ways than hard sensors.” According to Banica, the potential applications for Direct-C’s tech “are very broad and quite exciting.”