GeologicAI closes $20-million Series A to develop AI-powered robot geologists

Calgary-based mining tech startup GeologicAI has secured $20 million in Series A funding from Bill Gates’s Breakthrough Energy Ventures (BEV) to help meet the rising demand for critical minerals.

Using proprietary core sample scanning hardware, advanced machine vision, and artificial intelligence (AI), GeologicAI aims to help mining and exploration firms search beneath the ground and gather data more efficiently than traditional core logging methods.

“We’re delighted to have BEV onboard as we globalize this revolutionary technology.”

GeologicAI plans to use this Series A funding to develop and scale its fleet of AI-powered robot geologists and establish a global footprint. “We’re delighted to have BEV onboard as we globalize this revolutionary technology,” GeologicAI CEO Grant Sanden said in a statement.

Founded in 2013, GeologicAI provides “rock analytics for modern mining.” The startup aims to streamline the often tedious, manual data entry-heavy core logging process with its hardware and software solutions, enabling geologists to focus more on analysis.

Leveraging AI, robotics, and advanced sensor tech, GeologicAI uses high-resolution imaging, XRF, and hyperspectral data to analyze rock samples and identify resources below the Earth’s surface. The startup claims its tech is already being used by “some of the world’s leading mining and exploration companies.”

GeologicAI’s Series A financing comes as the world faces a looming critical mineral supply shortage. The World Bank Group has estimated that the production of critical minerals must increase by nearly 500 percent—or three billion tons—by 2050 in order to meet the growing demand for clean energy technologies.

“Without sufficient quantities of key minerals like copper, nickel, cobalt, and lithium, the transition to a clean energy economy simply cannot happen,” Carmichael Roberts, co-lead of BEV’s investment committee, said in a statement. For his part, Roberts believes GeologicAI’s tech has the potential to “significantly accelerate key mineral discovery and recovery.”

Innovative technology. Instant results.

Available anywhere.

Enabling the mining industry, GeologicAI is a technology company that uses proprietary core sample scanning hardware and AI to help geologists eliminate guesswork and improve workflow.

It’s all about discovery.

GeologicAI builds tools for the mining and exploration industry to make the process of analyzing data more time-efficient and accessible. We take out the tedious, manual data entry and replace it with learning software that continuously improves the user experience. These tools are just the beginning of GeologicAI’s goal to discover more about the planet than ever before.

Innovation is the key to our success. We are continually building technology to advance the core scanning landscape and help geologists in their day-to-day workflow. Find out how our scanners and software cut time and costs on any project.

Scanner

Our flagship machine is an innovative collection of robotics, cameras, and scanners that lives onsite at large exploration locations. Robust and self-contained, it can scan up to 650 metres of core a day and uploads data virtually instantaneously, making it available online and accessible anywhere with an internet connection.

Heli-Scanner

A lighter version of our original core scanner but with all of the same capabilities. At approximately 2,000 pounds, the Heli-Scanner has the benefit of being able to be flown in to remote, hard-to-access sites. The robotics and scanning tools can still process the same amount of core as our larger scanner — the option is yours.

Software

Our proprietary software is revolutionizing how core is scanned and, more importantly, how geologists interpret results. By eliminating guesswork and out-dated methods, exploration and mine planning teams save time and money to get the data they need, accessible online from anywhere.

This amazing technology will be a game changer for Iska Iska and allow us to more efficiently track metal and mineral zonation. I look forward to working with GeologicAI in calibrating the AI to better characterize and understand this remarkable mineralized system.

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