GeologicAI lands $60.5M to fuel critical minerals push

What happened: Calgary-based GeologicAI closed $60.5 million CAD in Series B funding to scale its critical mineral exploration tech as demand ramps up. Blue Earth Capital led the round with backing from Breakthrough Energy Ventures and mining giants BHP Ventures and Rio Tinto.

How it works: GeologicAI’s solution helps miners identify what’s underground and whether the deposits are commercially viable. The system scans rock and core samples using high-res imaging, hyperspectral data and X-ray fluorescence to generate detailed data, replacing manual exploration and logging.

The result: faster decisions, more accurate targeting, and a smaller environmental footprint.

Why it matters: Critical minerals like lithium, copper and rare earths are essential for the energy transition, and demand is only growing as tech giants race to build out data centres and compute power for AI.

But finding and validating deposits remains slow, expensive, and often environmentally disruptive. Tools like GeologicAI can help reduce that risk, minimize disruption for local communities, and accelerate development timelines.

Despite the recent cooling off in funding for Canadian climate tech, the raise shows there’s still investor appetite for technologies enabling the energy transition.

What’s next: With this fresh capital, GeologicAI plans to scale globally, ramping up hiring and expanding into more mining jurisdictions. While the long-term trend for data centres isn’t a sure thing, GeologicAI isn’t betting on a single industry, but plugging into a larger, durable shift in how the energy system.

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