GeologicAI, a global leader in digital rock analysis, has announced the securing of $30 million in funding to deploy its AI-powered robot geologists. The additional $10 million in funding comes from Export Development Canada (EDC) as an extension to GeologicAI’s Series A financing round, which was led by Breakthrough Energy Ventures.
The funding will play a crucial role in accelerating the global deployment of GeologicAI’s fleet of AI-powered robot geologists. These innovative robots will support the exploration and extraction of critical minerals that are essential for the energy transition.
GeologicAI’s technology combines hardware, software, and advanced machine learning to create an integrated digital rock analytics platform. The company’s proprietary core scanning robot employs high-resolution multi-sensor data to analyze rock samples, providing unparalleled accuracy in identifying underground resources. Through advanced machine vision and AI algorithms, scan data is converted into key rock properties, reducing the need for costly and time-consuming laboratory testing and subjective interpretation.
A notable feature of GeologicAI’s offering is its cloud-based digital rock viewing and analysis software. This software provides geologists worldwide with instant access to high-resolution AI-enhanced digital rock twins and automated digital geoscience workflows.
The company has already been working closely with leading mining and exploration companies around the world and is excited to leverage the funding from EDC to expedite its global expansion.
Guillermo Freire, Senior Vice-President at EDC, expressed enthusiasm for supporting GeologicAI’s growth and its transformative impact on the mining industry. He highlighted EDC’s priority of supporting emerging Canadian global champions in sectors crucial for a lower-carbon future. The financing from EDC will contribute to GeologicAI’s ongoing global expansion and the deployment of its groundbreaking technology.
Grant Sanden, the Founder and CEO of GeologicAI, emphasized the global nature of the mining industry and the importance of accessing critical materials from remote corners of the planet. GeologicAI’s platform enables geologists worldwide to collaborate, share knowledge, and accelerate exploration and development by providing access to rock samples from anywhere in the world.
The funding secured by GeologicAI is a significant milestone in its journey to revolutionize the mining industry and drive the energy transition forward. With its AI-powered robot geologists and cutting-edge technology, GeologicAI is poised to make a lasting impact on the exploration and extraction of essential minerals.
