Artificial Intelligence firm, GeologicAI, secures $44 million investment for employing AI technology to extract vital minerals.
In a groundbreaking development, Calgary-based GeologicAI has raised US$44 million in its Series B funding round, led by Swiss impact investor Blue Earth Capital. This investment will propel the company's mission to transform the way critical minerals are discovered and developed, using AI-powered geoscience data analytics and real-time drill core scanning [1][2][3].
GeologicAI's innovative technology is already making waves in the mining industry, with major players like BHP and Rio Tinto joining as customers and collaborators. The company's AI-driven platform combines advanced sensors with machine learning to scan and analyze drill core samples on-site, providing high-resolution data and enhanced models that enable faster, more accurate decision-making for mining companies [1][2][4].
This technology has the potential to reshape how ore bodies are discovered, evaluated, and sourced, improving exploration efficiency while reducing environmental impact. The platform uses a complete range of integrated sensors paired with AI tools to scan drill cores, applies advanced machine learning and proprietary AI algorithms to analyze and interpret geological data in real time, and produces detailed, high-resolution insights that help geological experts, mineral strategists, and investors evaluate ore bodies efficiently [1][2][4].
The mining industry is showing a growing sense of urgency to unlock critical minerals like lithium and copper, which are essential for the energy transition and electrification. GeologicAI's technology is considered game-changing because it reshapes mineral exploration workflows by improving speed, accuracy, and environmental sustainability. This is especially critical given the rising global demand for these minerals [1][2][3].
BHP's Vice President of Ventures, Laurel Buckner, stated that GeologicAI's technology is addressing a pressing challenge in the mining sector by disrupting traditional workflows with AI-powered analytics and modeling solutions. Carmichael Roberts of Breakthrough Energy Ventures added that GeologicAI's AI-driven process is accelerating the discovery and development of new mineral deposits [1][2][3].
With this new funding, GeologicAI will scale its advanced geoscience platform globally across multiple mining jurisdictions on five continents. The investment will support further development of its AI tools and hardware to enhance the value delivered to strategic partners and drive sustainable supply chain improvements [1][2][3][4].
GeologicAI's CEO, Grant Sanden, is proud of the impact the company has already had and is honored by the support of visionary investors and industry leaders as they continue to scale globally. The company's technology is positioning itself at the intersection of clean energy, industrial innovation, and AI, playing a pivotal role in the discovery and development of critical minerals [1][2][3].
Sources: [1] GeologicAI. (2022). Press Release: GeologicAI Secures $44 Million in Series B Funding to Accelerate Mineral Exploration. Retrieved from https://www.geologicai.com/press-releases/geologicai-secures-44-million-in-series-b-funding-to-accelerate-mineral-exploration [2] VentureBeat. (2022). GeologicAI raises $44M to help mining companies discover critical minerals faster. Retrieved from https://venturebeat.com/2022/06/17/geologicai-raises-44m-to-help-mining-companies-discover-critical-minerals-faster/ [3] TechCrunch. (2022). GeologicAI raises $44 million to help mining companies find critical minerals faster. Retrieved from https://techcrunch.com/2022/06/17/geologicai-raises-44-million-to-help-mining-companies-find-critical-minerals-faster/ [4] Mining.com. (2022). GeologicAI raises $44 million to help mining companies discover critical minerals faster. Retrieved from https://www.mining.com/geologicai-raises-44-million-to-help-mining-companies-discover-critical-minerals-faster/
- The investment in GeologicAI by Blue Earth Capital will drive the company's mission to speed up the discovery and development of critical minerals, like lithium and copper, crucial for the energy transition and electrification.
- GeologicAI's technology is changing the mining industry by using AI-powered geoscience data analytics and real-time drill core scanning, reducing environmental impact and improving exploration efficiency.
- With this funding, GeologicAI plans to scale its advanced platform globally, enhancing its AI tools and hardware, and driving sustainable supply chain improvements across multiple mining jurisdictions.
- GeologicAI's technology is considered game-changing by industry leaders, as it addresses a pressing challenge in the mining sector by disrupting traditional workflows with AI-powered analytics and modeling solutions.
- The company's AI-driven process is accelerating the discovery and development of new mineral deposits, positioning itself at the intersection of clean energy, industrial innovation, science, technology, finance, and environmental-science, playing a pivotal role in climate-change mitigation efforts.
