GeologicAI Secures $10M for Global Expansion!
GeologicAI raises an additional $10 million in funding from Export Development Canada, extending their Series A round to $30 million. This investment will expedite the global deployment of GeologicAI’s AI-driven robot geologists. In addition, it’ll help explore and extract essential minerals crucial for the energy transition.
The funding signifies EDC’s support for GeologicAI’s revolutionary approach to transforming mineral exploration and production within the mining industry. Moreover, it aligns with their goal of promoting sustainable practices for a lower-carbon future. GeologicAI’s technology combines hardware, software, and advanced machine learning. Furthermore, it improves rock analysis accuracy via core scanning robots and AI algorithms, decreasing reliance on costly and time-consuming laboratory testing.
“Mining is a global industry, and the critical materials needed will come from increasingly remote corners of the planet,” said GeologicAI founder and CEO Grant Sanden. “Our platform gives our clients’ best geologists access to all their rocks from anywhere in the world, enabling collaboration and knowledge sharing and accelerating exploration and development.”
GeologicAI gives cloud-based software for geologists, enabling instant access to improved digital rock models and streamlined geological workflows. CEO Grant Sanden highlights the need for mining critical materials from remote areas, and GeologicAI’s platform supports global collaboration among geologists for faster exploration and development. Moreover, with EDC funding, the company plans to expand its reach.
GeologicAI is already working with top mining firms globally, and they are actively deploying robots to various locations. Furthermore, it showcases their commitment to advancing Canadian technology globally.
News Source: Business Wire
