News

Vancouver-based Natural Resources Tech Start-up Jetti Closes $24 Million Series-A Financing

Published on Friday, October 20, 2017

Jetti Resources

Vancouver, BC, October 20, 2017–(T-Net)–Vancouver-based Jetti Resources has closed a major $24 million Series A financing according to various sources, including the BC Innovation Council.

Jetti Resources is a technology-driven natural resources company that has developed a novel hydrometallurgical technology to extract metals of value from mineral ores that the mining industry has struggled to process.

The company has been pretty under the radar in Vancouver and has not released much detail on this Series-A financing, but here is what we know currently.

The company previously received some funding from BC Innovation Council under their BCIC Ignite Program (approx $300,000 in 2016).

The investors in this new larger Series-A round of financing were not publicly disclosed but may likely include Silicon Valley-based heavyweight venture capital firm Kleiner Perkins Caufield & Byers and also DNS Capital (who are both listed as investors on the company website).

DNS CAPITAL is the investment office for the business enterprise of Gigi Pritzker, Michael Pucker and their immediate family, and Kleiner Perkins is known by – well – just about everybody, and have funded many of the best known major technology companies in existence.

The Jetti technology is especially advantaged for extracting copper from low-grade primary sulfides, the world’s most abundant copper resource. The catalytic technology seamlessly integrates with existing heap leaching methods and downstream processing operations.

In addition to Jetti’s innovation around copper sulfide leaching, the technology can improve zinc and nickel sulfide extraction, as well as other forms of mineral processing.

Andrew Perlman, Chairman of the Board, Jetti Resources

Jetti Resources also has a seriously heavyweight Chair (Andrew Perlman). For those of you unfamiliar with him, Andrew sold a company called Cignal Global Communications for approx $200 million (at age 25), and then went on to found nine other major companies in six industries.

Andrew was profiled by the Wall Street Journal as one of its leading entrepreneurs “on the move,” chosen by the MIT Technology Review as one of its 2009 “35 Innovators Under 35,” and selected by Crain’s Chicago Business as one of its 40 leaders under 40. You can find out more details on his background here on Wikipedia or on LinkedIn.

 

Mike Outwin, Co-Founder and CEO, Jetti Resources

Jetti’s Co-Founder and CEO is Mike Outwin who was previously an Entrepreneur-In-Residence, Associate Partner, and Strategic Advisor at GreatPoint Ventures and is currently based in Vancouver, BC.

About Jetti Resources

Jetti Resources is a technology-driven natural resources company that has developed a novel hydrometallurgical technology to extract metals of value from mineral ores that the mining industry has struggled to process. The Jetti technology is especially advantaged for extracting copper from low-grade primary sulfides, the world’s most abundant copper resource. The catalytic technology seamlessly integrates with existing heap leaching methods and downstream processing operations. In addition to Jetti’s innovation around copper sulfide leaching, the technology can improve zinc and nickel sulfide extraction, as well as other forms of mineral processing.