The Details
Following our Series A raise in May of 2023, we’re excited to announce that we have secured $12.5M in Series B funding led by LGVP, a New York–based venture capital firm, with continued support from Series A funders RCF Innovation and Beedie Capital.
This validates the impact we’ve made — and will continue to make — since the beta launch of our AI-Assisted Mineral Discovery Platform in 2024. Today, the platform is being used by 26 forward-thinking clients, like Canterra Minerals, RUA GOLD, Southern Cross Gold, and more, who are our partners in changing how mineral exploration is done. With growing adoption, we’re expanding our proprietary database and continually training our mineral system–specific models to be smarter and more precise, facilitating data-driven exploration and driving game-changing discoveries.
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The Plan
Our mission remains steadfast in delivering the first and best purpose-built platform for the mineral exploration industry, backed by geoscientists and AI experts.
“As we grow our in-house geoscience and AI expertise, we have big plans to make our platform even better,” notes JP Paiement, CTO. “We’re not only improving the client-facing, intuitive interface, but we’re also investing in the backend infrastructure to make data collation and indexing more efficient, which in turn will allow DORA, the first of its kind in the world, to make better predictions and even extrapolate beyond explored areas.”
As a highly efficient, breakeven business, this external funding will allow us to accelerate the adoption of our AI-Assisted Mineral platform while diving into exciting initiatives that will continue to solidify our leadership in the AI-Assisted Mineral Discovery category.
The Continued Impact
Combining advanced AI with deep industry expertise, we’re confident that we can support growing demand for critical minerals by providing access to our platform that can help clients discover them more efficiently.
Early adopters have already seen success. Southern Cross Gold, based in Perth, Australia, made a high-grade discovery in late 2024, using our AI-Assisted Mineral Discovery Platform to identify a system of potential mineralization — a target that was independently identified by their exploration team, too. This informed their exploration plans using AI insights that leveraged their own data and geological expertise alongside our advanced algorithms and models.
Read the Southern Cross Gold Case Study
“We’d like to thank these early adopters — our visionary clients — for being such great partners as we launched the world’s first AI-Assisted Mineral Discovery Platform,” Steve de Jong, our CEO and Cofounder stated. “Our goal is to collaborate with explorers and producers to show them that AI doesn’t have to be a black box; to encourage them to push the boundaries of what’s possible. We’ve been able to do this because of the trust of the industry and we look forward to helping existing and new clients make game-changing discoveries to support the growing demand for critical minerals.”
The Next Generation
With so much room for innovation within mineral exploration, we’ve built one of the world’s best teams of geoscientists and AI engineers to continue to lead the industry into the age of AI. As we scale, we remain committed to expanding this expertise.
“Beyond supporting clients in discovery, we’re continuing to assemble a top-tier team to build AI that delivers real results,” explains de Jong. “With exploration at a crossroads, we’re leading the change and this funding allows us to move with speed and purpose, now.”
Visit Us at PDAC
See the world’s first AI-Assisted Mineral Discovery Platform in action at the Prospector and Developers’ Association of Canada (PDAC) Conference in Toronto, Canada, March 1-5. Join us at the VRIFY Lounge (booth 3321) for live demos, exclusive product announcements (Monday, March 3, 12:30-2pm), an industry panel discussion (Tuesday, March 4, 12:30-2pm), and more.
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