Awarded $500,000 in investment from Paspalis Innovation Investment Fund (PIIF) as the winner of Croc Pitch 2022, Singapore based startup, Atomionics‘ vision is to essentially build a complete model of the Earth’s Crust using their Gravimeter.
The company builds quantum sensors for Navigation and Resource Exploration. The core of what they are building is called cold atom interferometry, where they cool down atoms to microkelvin temperatures by shooting lasers at them. This allows them to precisely measure the forces acting on them. The technology measures gravity, acceleration, and rotation to build a complete map of the underground, and help pinpoint underground structures, like bunkers and tunnels, predict earthquakes, provide precise navigation, and build a universal positioning system that works everywhere – underground, underwater, and even in space.
Their purpose is to “Do more with less” by minimising environmental externality and maximising resource efficiency.
Atomionics plans to use their funds for paid trials in mine sites across the Territory by employing 1 FTE technical officer in the NT, relocate a Gravimeter to the NT for deployment and setting up a base in Australia. They hope to achieve this in 12 months beyond investment. With the vast desert land in the NT, their mobile tools will be used to explore and collect data to establish any resources such as battery metals – copper, lithium, nickel, and other minerals like uranium and gold. Thus, accelerating the resource economy for renewable energy by the discovery of resources.
Sahil Tapiawala, Co-Founder and CEO at Atomionics said, “We are very excited to bring the cold atom interferometry technology to the Northern Territory and ensure that the birthplace of the renewable energy revolution is in the Territory. Our technology will provide huge impacts for some of the biggest industries in the NT such as, mining, oil and gas and carbon sequestration. Thanks so much to the panel, Croc Pitch has been a fantastic experience.”
Harley Paroulakis – CEO Paspalis says, “We like Atomionics for a number of reasons, an exciting technology that has enormous potential for exploration application in north Australia, particularly in some of the rich mineral provinces we have around Darwin. We think the strength in the company lies in its international partnerships that they are already in contract discussions with. We feel the technology has the potential to be massively commercialised on a global basis, which is exciting in terms of the company’s valuation and future revenue model.”
Croc Pitch 2022 was an exciting showcase of the best innovations and business ideas for the NT. Hosted by the Darwin Innovation Hub on the 26th of October as part of the Spark Festival and October Business Month’s Innovation week, Croc Pitch 2022 continues to be an event not-to-be missed by entrepreneurs, start-ups, SMEs and investors. With up to $1 million in Venture Capital investment on the line, the DIH opened its doors (and screens) to competitors from Australia and the world. The criteria simple… the winning pitch must have an economic benefit for the Northern Territory.
Atomionics’ application was selected to continue through to the semi-finals with sixteen other high-quality applicants and after a series of semi-finals at Croc Camp, Sahil was one of the eight finalists to be shortlisted to pitch his innovation to the group of expert panel members.
Due to the large quantity of finalists from Singapore, Michael Png, the Northern Territory Business Development Director, based at Austrade in Singapore, dialled in to the competition,
“I am glad that DIH itself is thinking out of the box, going global in its outlook, and recognises the vibrant and innovative tech ecosystem in Singapore, and are tapping into the vast and amazing entrepreneurial talent pool and investment opportunities that Singapore and Southeast Asia offers.”
If you think you could be the next Croc Pitch winner, follow the Darwin Innovation Hub for more on Croc Pitch 2023 scheduled to take place in Darwin as part of the Developing Northern Australia conference in July of 2023.
(All investments are subject to due diligence)