Phaseshift Technologies, a Toronto-based advanced materials company, has closed a $3 million seed financing round to accelerate the development and commercialization of next-generation alloys and composites using its proprietary AI-powered computational platform, Rapid Alloy Design (RAD). The funding was led by Innospark Ventures, with participation from Draper Associates and follow-on investment from First Star Ventures. Phaseshift's unique approach addresses critical industrial challenges across various sectors, including aerospace, automotive, mining, energy, and advanced manufacturing. According to Fazal Mahmood, Co-Founder and CEO of Phaseshift, the company's AI-powered platform enables rapid development of specialized materials that tackle real-world industrial problems often overlooked by others. Matt Fates, Partner at Innospark Ventures, has joined Phaseshift's Board of Directors, bringing over 25 years of experience helping tech companies grow. Tim Draper, Founder and Managing Partner at Draper Associates, notes that Phaseshift is solving a fundamental bottleneck in industrial innovation by making advanced materials development faster and more accessible.
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