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.
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