We were off by a year.
Galatea Technologies, a company on Calgary.tech’s watchlist for 2023, narrowly missed the 2024 list.
Not that Galatea wasn’t successful in 2023—they were—but in 2024, the Calgary-based clean-technology upstart is establishing major traction.
The company this year bolstered its round of seed funding with a $2.7 million extension with capital flowing in from Toronto’s Staircase Ventures, Colorado’s Ascent Energy Ventures, Ottawa’s Natural Gas Innovation Fund.
Galatea launched in 2019 to help commodity producers better manage waste and fluid logistics using modern tech.
Named after the highest peak in the Kananaskis—a mountain range west of the Kananaskis River in Alberta’s Canadian Rockies—Galatea is now eyeing a move south of the border thanks to fresh capital.
“Mounting [regulatory] pressures in the US have created a market need for the same solution that we’ve developed in Canada,” Galatea founder and petroleum engineering technologist Chad Hayden informed BetaKit.
Hayden noted that American regulators are now paying closer attention to how local oil and gas companies are handling waste, with some US states already tightening regulations around the disposal of industrial garbage.
Meanwhile, many of the offending companies currently lack meaningful digitization, creating a ripe opportunity for Alberta’s Galatea to sweep in with slick software solutions.
Prior to Galatea, Hayden was the Sales Manager for Newalta, one of Canada’s largest waste disposal companies, and holds a Petroleum Engineering Diploma from the Southern Alberta Institute of Technology.
His company’s seed extension, which closed earlier this year, brings the startup’s total funding to more than $7M.
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