Energy Tech Company M1neral Raises $1.6 Million

By Annie Baker ● January 10, 2020
  • Early-stage energy tech company M1neral announced it has raised $1.6 million in funding

M1neral, an early-stage energy tech company transforming the oil and gas minerals industry, announced it has raised a $1.6 million oversubscribed pre-seed financing round. The $1.6 million round was co-led by Amnis Ventures and Pheasant Energy with participation from a handful of select investors and strategic partners.

Launched in Houston, TX and co-founded by Jacob Avery, Kyle Chapman, and Shawn Cutter, M1neral has nearly completed building its platform that aims to modernize an industry that is “stuck in the dark ages.”

“The mineral and royalty market is extensive in value but highly fractionated – over $500 billion in value spread across more than 12 million owners around the country. Add to that a lack of quality information and processes that are mostly manual, and it’s easy to see what makes these transactions a painful and lengthy process,” said Kyle Chapman, Co-Founder and CEO of M1neral. “With M1neral’s cloud-based platform, buyers will be able to research opportunities quickly, engage with sellers and service providers, and utilize artificial intelligence and workflow automation to close deals in a fraction of the time.”

Buying and selling minerals and royalties is similar in nature to a traditional real estate transaction as limited information and lack of technology causes the acquisition process to be exponentially more complex, costly, and time-consuming.

“Amnis Ventures is delighted to co-lead the current round of funding in M1neral. The founders come with deep knowledge of oil and gas, coupled with proven, delivered technology implementations in the energy space,” added Manuel Silva III, President of Amnis Ventures Inc.

Essentially, the M1neral platform is known for bringing age-old upstream oil and gas processes into the technology revolution of the 21st century.

“M1neral has identified, analyzed, and addressed significant issues on the technology side of the mineral and royalty market. Pheasant Energy has always taken a technology-driven approach and a partnership with M1neral was an obvious next step,” stated Ryan Moore, chief executive officer at Pheasant Energy. “The executive team at M1neral is well-versed in the industry and the challenges that both professionals and individual owners face on a daily basis. As the platform develops, everyone will understand the difference in vision with the M1neral team and the efficiencies that will be achieved with their product.”