Calgary’s GeologicAI has added $10 million in funding from Export Development Canada to the $20 million Series A financing round announced in June 2023 led by Bill Gates’ Breakthrough Energy Ventures.
This now USD $30 million investment will accelerate global deployment of GeologicAI’s fleet of AI-powered robot geologists to support the exploration and extraction of the critical minerals required for the energy transition.
GeologicAI’s technology combines hardware, software, and advanced machine learning into an integrated digital rock analytics platform.
A proprietary core scanning robot uses a unique blend of high-resolution multi-sensor data to analyze rock samples, providing unparalleled accuracy in identifying resources hidden beneath the Earth’s surface.
Advanced machine vision and AI algorithms convert scan data to key rock properties, reducing the need for costly and time-consuming laboratory testing and reliance on subjective manual interpretation.
The company’s cloud-based digital rock viewing and analysis software gives geologists worldwide instant access to high-resolution AI-enhanced digital rock twins and automated digital geoscience workflows.
“Mining is a global industry and the critical materials needed are going to 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 of their rocks from anywhere in the world, enabling collaboration and knowledge sharing and accelerating exploration and development”.