Calgary-based mining tech startup GeologicAI has secured $20 million in Series A funding from Bill Gates’s Breakthrough Energy Ventures (BEV) to build AI-powered robot geologists. This is according to a report by BetaKit published Tuesday.
“GeologicAI has spent the last few years proving out its technology across a variety of mineral types and geologic environments, with both junior and major mining companies, and throughout the exploration, development, and operating segments of the mining ecosystem,” GeologicAI chief strategy Yannai Segal told BetaKit.
“We’ve now demonstrated success with many customers and are ready to bring this much-needed technology to mining companies across the world.” GeologicA was founded in 2013 to offer “rock analytics for modern mining.” The startup’s goals are to streamline the manual data-entry-heavy core logging process.
“We believe that improved geological understanding is the point of maximum benefit for a more efficient, environmental, and economical mining industry, and that multi-sensor machine vision is the best way to better understand rocks,” Segal said.
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