Calgary-based company GeologicAI has secured an additional $10 million in funding from Export Development Canada (EDC), bringing the total funding in its Series A financing round to $30 million. The funds will be used to support GeologicAI’s mission of expanding globally and deploying its AI-powered robot geologists. The company’s innovative technology combines hardware, software, and advanced machine learning to create an integrated digital rock analytics platform. This platform revolutionizes the exploration and extraction of critical minerals for the global energy transition by providing rapid access to high-resolution, AI-enhanced digital rock data and automated geoscience workflows.
GeologicAI’s digital rock analysis platform is set to transform the mining industry by reducing reliance on costly and time-consuming laboratory testing. The platform utilizes a proprietary core scanning robot equipped with high-resolution multi-sensor data capabilities to analyze rock samples with unprecedented accuracy. Advanced machine vision and AI algorithms convert the scanned data into essential rock properties, allowing geologists and mining professionals to expedite exploration and development processes. Cloud-based software enables collaboration and knowledge sharing among geologists globally.
EDC’s funding support is a testament to GeologicAI’s potential in reshaping mineral exploration and production within the global mining industry. The financing will aid the company’s continued global expansion and deployment of its groundbreaking technology. GeologicAI has already formed partnerships with leading mining and exploration firms and anticipates that the new funds will further accelerate its global reach. The company is already making strides, with a GeologicAI robot en route to Australia and plans to deploy several more to client sites in Finland.
