In September, Calgary’s GeologicAI added $10 million in funding from Export Development Canada to a $20 million Series A financing round announced in June 2023 led by Bill Gates’ Breakthrough Energy Ventures.
The global leader in digital rock analysis combines hardware, software, and machine learning into an integrated digital rock analytics platform—reducing a costly and intensive process that could take over a year traditionally to just a week or less.
In 2024, we reported on how the well-funded GeologicAI has major scale-up plans as the company looks to grow from its basecamp in Alberta.
For example: the geo-tech upstart is planning to expand workforce by an order of magnitude over the next two years.
Continuing forward, this week GeologicAI announced the acquisition of Resource Modeling Solutions, an Alberta-based firm which consults on geo-statistics and geo-metallurgy challenges, delivering expert technical work, custom software, and training solutions.
“We are thrilled to welcome RMS to the GeologicAI family,” stated GeologicAI CEO Grant Sanden.
GeologicAI described the strategic move as a “significant milestone in GeologicAI’s growth and commitment to innovation.”
“This integration strengthens our position in the industry and enhances our ability to deliver groundbreaking end-to-end technology solutions to our clients,” Sanden said. “It’s a win-win for all parties involved.”
Resource Modeling Solutions brings technology and talent that “perfectly complement GeologicAI’s mission and values,” according to a statement released by the firms.
As a result, the partnership is expected have a “positive impact on the industry and the community” through the creation of opportunities for collaboration, innovation, and knowledge-sharing.
“We are focused on continuing to expand our capabilities by integrating new and emerging technologies,” stated Sanden.
GeologicAI was founded in 2013.
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