24/7 Space News
EARTH OBSERVATION
Earth AI Closes $20M Series B Round for AI Driven Mineral Exploration
illustration only
Earth AI Closes $20M Series B Round for AI Driven Mineral Exploration
by Clarence Oxford
Los Angeles CA (SPX) Jan 29, 2025

Earth AI, a leader in leveraging artificial intelligence (AI) for clean energy metals exploration, has secured $20 million in Series B funding. The oversubscribed round was spearheaded by Tamarack Global and Cantos Ventures, with additional backing from Overmatch, Alpaca, Sparkwave Capital, and significant participation from existing supporters such as Y Combinator and Scrum Ventures. The new capital will support advancements in AI and drilling technologies and help accelerate the discovery of high-value mineral projects. The company also aims to expand its project pipeline to over 50 sites and increase drilling capacity to 100,000 meters, maintaining a cost-efficient rate of approximately $100 per meter.

Founded in 2017, Earth AI has revolutionized the mining industry with its AI-powered Mineral Targeting Platform (MTP), which identifies mineral resources in untapped areas quickly and at a fraction of traditional costs. Combined with its proprietary mobile low-disturbance (MLD) drilling technology, the company has achieved a discovery success rate of 75%, significantly outperforming the industry average of 0.5%. Exploration costs have also been slashed by up to 80% using this innovative approach.

"Despite the tremendous global need for mineral resources for everything from the energy transition to day-to-day life, new mineral deposit discoveries are notorious for being expensive and time-consuming," said Roman Teslyuk, founder and CEO of Earth AI. "Earth AI is changing this paradigm using its proprietary AI and drilling technology that has already made verified discoveries in greenfield regions. This new round of funding will be critical to expanding our operations and establishing a pipeline of attractive new mining projects for the industry."

Earth AI's strategy revolves around identifying mineral deposits through AI, validating them with drilling, and selling multi-billion-dollar mining rights to large-cap mining companies. Its predictive technology integrates continental-scale datasets with satellite remote sensing, analyzing 400 million pieces of data to identify greenfield prospects. This unique capability differentiates Earth AI from competitors that typically focus on resources near existing mines, positioning the company as a key partner for the mining industry amid the surging demand for critical minerals.

"We are always attracted to companies operating in large addressable markets like critical minerals that have found unique ways to create superior cost structures and defensibility in their approach. Earth AI fits squarely within this target and has already proven industry-leading success rates using their AI engine, the Mineral Targeting Platform, which we believe to be the best-trained model amongst any other players in the space. We are very excited to lead this round and believe the future is very bright for this incredible company," said Jamie Lee, managing partner at Tamarack Global.

Demand for critical minerals is projected to reach $10 trillion by 2050, with current production needing to grow 30-fold to meet that threshold. While many mining companies focus on extraction, discovery and exploration are often outsourced to smaller, less efficient entities. Earth AI's technology positions it as a cornerstone of the industry, driving the organic growth of new mining assets to meet this rapidly escalating demand.

Related Links
Earth AI
Earth Observation News - Suppiliers, Technology and Application

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
EARTH OBSERVATION
Researchers create AI tool for realistic satellite images of climate impacts
Madrid, Spain (SPX) Jan 22, 2025
Researchers from the University of Granada (UGR) have unveiled a major advancement in using artificial intelligence to generate realistic satellite images depicting the impacts of climate change. This innovation holds promise for better communicating the consequences of environmental shifts, such as flooding and reforestation, to policymakers and the public. The project, spearheaded by Natalia Diaz of the Andalusian Inter-University Institute for Data Science and Computational Intelligence (DaSCI) ... read more

EARTH OBSERVATION
Vast and SpaceX Call for Research Proposals to Advance Space Habitation

Satellite technology paves way for space traffic management

SpaceX mission to return US astronauts to happen 'soon': Trump

NASA Opens New Challenge to Inspire Climate Solutions

EARTH OBSERVATION
General Atomics tests advanced nuclear thermal propulsion fuel at NASA Marshall Space Flight Center

Rocket Lab to launch wildfire detection satellites for OroraTech

Sierra Space Dream Chaser Spaceplane Passes Key NASA Test in Preparation for ISS Resupply Mission

UK Government backs UK orbital launch with 20 million pound investment

EARTH OBSERVATION
Approaching the Red Planet from the Kitchen

ORBIMARS: A proposed terminology for Mars orbital operations

Explaining persistent hydrogen in Mars atmosphere

Now That's Ingenuity: First Aircraft Measurement of Winds on Another Planet

EARTH OBSERVATION
Chinese Satellite Companies Expand Global Services with Advanced Networks and Constellations

China launches additional satellites for Spacesail Constellation

Shenzhou XIX crew completes second spacewalk mission

Shenzhou XIX crew completes second spacewalk

EARTH OBSERVATION
Sidus Space Receives FCC Approval for Direct-to-Device Capability

South American Space Programs: No Cooperation, No Gains

SiriusXM's SXM-9 Satellite Begins Full Operation After Successful Testing

Starlink connectivity enhances Oracle Enterprise Communications Platform

EARTH OBSERVATION
Australian innovation detects space phenomena with new technology

Safran DSI achieves milestone with first US-built VISION satellite antenna

NASA 3D-Printed Antenna Takes Additive Manufacturing to New Heights

SoftBank eyes $15-25 bn investment in OpenAI: FT

EARTH OBSERVATION
Astronauts to Collect Microbial Samples from Space Station Exterior

Dwarf planet Ceres has rare organic material delivered by asteroids

A super-Earth laboratory for finding life beyond our solar system

Extreme supersonic winds detected on distant exoplanet

EARTH OBSERVATION
NASA Juno Mission Discovers Record-Breaking Volcanic Activity on Io

SwRI models suggest Pluto and Charon formed similarly to Earth and Moon

Citizen scientists help decipher Jupiter's cloud composition

Capture theory unveils how Pluto and Charon formed as a binary system

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.