GLASSDOME SECURES $8.6M SERIES A FOR MANUFACTURING REGULATORY PLATFORM, WITH EV BATTERY FOCUS
17 May, 2023, 11:11 ET
Recent US and EU regulations have driven demand for improved visibility, efficiency
PORTLAND, Ore., May 17, 2023 /PRNewswire/ -- Glassdome, a software platform for industrial optimization and compliance, announced an $8.6M Series A to help manufacturers, including EV battery makers, improve efficiency and meet changing regulatory requirements. The announcement comes on the heels of the SEC's proposal to enhance GHG disclosures and new EU battery policies that call for stronger sustainability, recycling, and labeling.
A member of the Global Battery Alliance, Glassdome has been working with major Korean EV battery makers and their upstream suppliers to acquire environmental footprint data in their supply chains. Korea accounts for almost one quarter of global EV battery production.
Life cycle assessment (LCA), the method of calculating a product's environmental impact, traditionally relies heavily on tables of estimated industry averages. With its expertise in plant-floor data acquisition, Glassdome improves the real-time visibility and accuracy of LCAs by integrating actual Scope 3 emissions data from suppliers, sharing sensitive partner data securely. This information can be used to create a Digital Product Passport, an increasingly common regulatory requirement that informs consumers of the social and environmental impacts of a product's lifecycle.
"Industrial software hasn't kept pace with consumer and office solutions," said Glassdome COO Joshua Charnin-Aker. "The new SEC proposal is estimated to increase US companies' paperwork burden by $10.2B per year. We want to help decrease that figure."
Glassdome's other industry initiatives include pharmaceutical Data Integrity projects and recordkeeping for Good Manufacturing Practices. It partners with telecom giant LG U+ to power smart-factory solutions for all types of manufacturers.
The Series A was led by Atinum, with participation from Primer Sazze Partners, Dunamu & Partners, Murex, and Korean conglomerate Lotte. Previous investors include Crit Ventures and Elon Musk's Neuralink cofounder Max Hodak.
Glassdome is an industrial software company with expertise in the acquisition and analysis of data from manufacturing equipment. With roots in Silicon Valley and in Korea, Glassdome serves customers across the pharmaceutical, food and beverage, chemical, and EV Battery industries looking to improve efficiency and meet regulatory requirements. The company was founded in 2019 by former Stanford and high-school classmates Simon D. Kim and Joshua Charnin-Aker. Visit www.glassdome.us to learn more.
Joshua Charnin-Aker, Chief Operating Officer
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