Arolytics Raises Seed Financing Led by BDC Capital

Arolytics founding team, L-R: Emmaline Atherton, Dr. David Risk, Liz O’Connell

Arolytics, ​​an innovative provider of methane software and data analytics solutions for the oil and gas sector, is the inaugural investment in BDC Capital’s new $150M Sustainability Venture Fund. The fund is dedicated to investing in businesses developing technologies that will support Canada and the world to meet sustainability and climate targets. This investment will enable Arolytics to accelerate development and deployment of its cutting-edge integrated methane management software, AroViz, and methane forecasting model, AroFEMP. The products are designed to address critical environmental challenges for the energy industry – specifically methane emissions management.

Additional investment was attracted from Accelerate Fund III managed by Yaletown Partners, Metiquity Ventures, StartupTNT, and a Houston-Based Strategic Investor. Including recently secured government grants awarded from a variety of federal and provincial organizations, the total capital raised exceeded $3.5M. 

“We are thrilled to welcome BDC as the lead investor in our Seed financing round. BDC was of particular interest due to the funds’ alignment with our vision and mission in addition to the network, strategic, and advisory resources that we will be able to leverage beyond capital. We look forward to entering our next phase of growth alongside these partners,” quotes Liz O’Connell, CEO of Arolytics.  

‘’Methane accounts for about 20% of global GHG emissions, and about 30% of global temperature increase. Effective methane emissions management is critical to meeting Canada’s net-zero emissions target, ‘’ Anamika Mukherjee, Partner, Sustainability Venture Fund at BDC Capital. ‘’We are thrilled to support Arolytics in its mission to provide methane emitters with a comprehensive platform to substantially improve the accuracy and forecasting of their emissions data – and help them build ambitious and impactful management strategies.’’

Arolytics was founded in 2018 by a team of methane experts and has leveraged their years of experience in methane research to provide solutions for optimizing methane strategies for the oil and gas sector. Their state-of-the-art platform is designed to allow energy companies to gain valuable insights into methane measurement data, leading to faster emissions reductions at lower costs. By combining sophisticated data modeling and integrating methane measurement data from any sensor or source, Arolytics aims to equip organizations with the tools they need to make informed decisions and drive sustainable emissions reduction practices.

The capital will enable Arolytics to scale quickly with a focus on continued product innovation, U.S. market entry, and team expansion to fully address client needs in this time-sensitive market. With fast expanding methane requirements globally, Arolytics is well positioned to be a market leader in helping oil and gas firms meet methane reduction targets. Since Arolytics’ previous fundraise, the team has more than tripled in size, expanded sales to the U.S., and their product has undergone extensive automation and scalability improvements. 

About Arolytics

Arolytics is a methane analytics and software company formed in 2018 that specializes in enterprise management of methane data for the oil and gas sector. With proprietary algorithms and emissions modelling, Arolytics' products and services optimize energy sector methane strategies by evaluating methane detection technologies and work practices and by providing an integrated methane management platform that derives strategic insights. For more information, visit www.arolytics.com.

About BDC Capital

BDC Capital is the investment arm of BDC, Canada’s bank for entrepreneurs. With over $6 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity as well as ownership transition solutions, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. Visit bdc.ca/capital.

For more information, contact us.