EARTH AI, the mineral targetting start-up, whose technology can predict the location of new ore bodies far cheaper, faster, and with more precision than previous methods, on 16 August announced a funding round of up to AUS$2.5 million from Gagarin Capital, the VC firm specialising in AI, and Y Cominbator. Previously, EARTH AI raised AUS$1.7 million in two seed rounds from AirTree Ventures and Blackbird Ventures and high-net worth angel investors. The new round will help the company continue to pursue its mission of fundamentally improving the efficiency of mineral exploration with the help of cutting-edge technology.
More specifically, EARTH AI’s technology uses machine learning techniques on global data, including remote sensing, radiometry, geophysical and geochemical datasets, to learn the data signatures related to industrial metal deposits (from gold, copper, and lead to rare earth elements), train a neural network, and predict where high value mineral prospects will be.