Daedal Systems has announced a US$4.035 million round led by OMERS Ventures, with participation from Garage Capital, Panache Ventures, Ripple Ventures, MaRS Investment Accelerator Fund, and a group of angel investors. The Toronto company builds standardized plasma measurement systems for the fusion industry.
Founder and CEO Henry Gould previously built and deployed diagnostics at General Fusion, where he saw fusion companies across the sector recreating similar measurement systems in-house, even though diagnostics are not core fusion machine IP. Daedal instead delivers measurement as a service. Its platform can adapt to different machines and independently validate technical milestones for investors and partners, without waiting on peer-review timelines.
The round will fund Daedal's first three diagnostic systems and prototype deployments under contract with pilot customers. The company also has a research partnership with the University of Wisconsin-Madison.
Read more in our interview with Henry Gould from earlier this month.
