GeologicAI, a Calgary, Canada-based company which specializes in digital rock analysis, raised $10M in additional funding.
The round, which brought the total amount to $30M, was led by Export Development Canada.
Led by Founder and CEO Grant Sanden and President David Henderson, GeologicAI provides resource exploration by developing AI-driven core scanning robots and software. Its cloud-based digital rock viewing and analysis software gives geologists worldwide instant access to AI-enhanced digital rock twins and automated digital geoscience workflows. GeologicAI’s technology combines hardware, software, and advanced machine learning into an integrated digital rock analytics platform. A proprietary core scanning robot uses a blend of high-resolution multi-sensor data to analyze rock samples, providing accuracy in identifying resources hidden beneath the Earth’s surface. Advanced machine vision and AI algorithms convert scan data to key rock properties, reducing the need for laboratory testing and reliance on subjective manual interpretation.
The company intends to use the funds to accelerate global deployment of its fleet of AI-powered robot geologists.
FinSMEs
25/09/2023