News Summary

Calgary-based mining tech startup GeologicAI has raised $60.5 million CAD in a Series B funding round to scale its operations globally. The funding was led by Swiss impact investor Blue Earth Capital, with participation from BHP Ventures, Rio Tinto, and Breakthrough Energy Ventures. GeologicAI plans to use the funding to expand its sensing technologies and increase its presence in key mining jurisdictions, including the Middle East, South America, and Asia. The company currently employs around 220 people, with over 80% based in Canada. This funding comes amidst growing demand for critical minerals used in AI, data centres, and renewable energy. GeologicAI’s technology assists mining companies in analyzing rock samples quickly and efficiently, aiming to enhance mineral recovery while minimizing environmental impact.