By StartupChi Team | August 5, 2024

Introduction

In a significant boost for the intersection of traditional industries and decentralized finance, Elmnts has successfully raised $2,000,000 in a Pre-Seed funding round. This innovative company is set to transform the oil and gas royalties ecosystem through its on-chain solutions, offering enhanced transparency and efficiency in an industry ripe for disruption. With a pre-money valuation of $18,000,000, Elmnts stands at the forefront of a revolution in how oil and gas royalties are managed and distributed.

Background

Founded by a team of seasoned professionals who recognized the inherent inefficiencies within the oil and gas sector, Elmnts aims to harness the power of blockchain technology to streamline royalty payments. As oil prices fluctuate and market volatility becomes the norm, traditional methods of royalty distribution have proven cumbersome and opaque. Elmnts was conceived to mitigate these issues, leveraging non-fungible tokens (NFTs) and decentralized finance (DeFi) solutions to create a more robust ecosystem for stakeholders in the oil and gas industry.

Funding Details

The recent funding round saw participation from a diverse group of 12 investors, with notable contributions from B+J Studios, Anagram, and blockchain pioneer Anatoly Yakovenko. This round not only provides essential capital for product development but also validates the growing investor confidence in blockchain solutions for traditional sectors. With this funding, Elmnts is poised to accelerate its development and market entry.

Competitive Landscape

In a competitive landscape that includes both traditional oil and gas royalty management firms and emerging blockchain-based solutions, Elmnts distinguishes itself by focusing on on-chain transparency and automated royalty distribution. While competitors often rely on outdated practices, Elmnts leverages blockchain’s immutable ledger to enhance trust and security, positioning itself as a leader in the digital transformation of oil and gas royalties.

Future Plans

The funding will primarily be directed towards advancing product development and expanding the team to meet the growing demand for blockchain solutions. Elmnts plans to enhance its platform with advanced features, and aims to launch strategically in select markets throughout the next year. As the company embarks on this journey, it remains committed to delivering innovative solutions that address the challenges faced by the oil and gas sector.

Elmnts is on the cusp of something big in the world of blockchain and traditional industries. For more information about their mission and developments, visit their website.

Pre Seed Round – Elmnts:

• Organization Name: Elmnts
• Organization Description: Elmnts is an on-chain oil & gas royalties ecosystem
• Website: www.elmnts.io
• Funding Type: Pre-Seed
• Funding Round: Pre Seed Round – Elmnts
• Money Raised: $2,000,000
• Announced Date: Aug 5, 2024
• Funding Stage: Seed
• Pre-Money Valuation: $18,000,000
• Equity-Only Funding: Yes
• Industries: Blockchain, Decentralized Finance (DeFi), Non-Fungible Token (NFT), Oil and Gas
• Revenue: —
• Total Funding: $2,000,000
• Funding Status: Seed
• Number of Funding Rounds: 1
• Lead Investor: ,,
• Investors: ,,,,,,,,,,,, B+J Studios, , Anatoly Yakovenko
• Number of Investors: 12
• Number of Partner Investors: 1