GeologicAI, a Calgary, Canada-based provider of rock and resource digitization services, raised $20M in Series A funding.
The round was led by Breakthrough Energy Ventures.
The company intends to use the funds to further the development and global scaling of its fleet of AI-powered robot geologists, accelerating resource exploration and extraction.
Led by CEO Grant Sanden, GeologicAI develops AI-driven core scanning robots and software to improve workflows from exploration to extraction. Its proprietary core scanning robot uses a combination of imaging, XRF and hyperspectral data to analyze rock samples, providing accuracy in identifying resources hidden beneath the Earth’s surface.
The company’s digital rock viewing and analysis software gives geologists worldwide instant access to high-resolution, AI-enhanced digital rock twins. This solution streamlines workflows, promotes global collaboration, and offers transparency in exploration and development. These insights equip geologists and energy scientists with tools for efficient, environmentally conscious resource discovery and extraction.
FinSMEs
30/06/2023