Published: January 28, 2025 |

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Earth AI has secured $20 million in series B funding. New funding will drive AI and drilling technology development and accelerate project value discovery. The company plans to increase the project pipeline to more than 50 sites and increase drilling capacity to 100,000 meters at an industry beating ~$100/meter cost.

“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,” added Teslyuk.

Founded in 2017, Earth AI is disrupting the mining industry through its AI-powered Mineral Targeting Platform (MTP) that is capable of rapidly identifying mineral resources in previously untapped areas at a fraction of the cost. Combined with proprietary mobile low disturbance, drilling technology (MLD), the company’s approach has achieved an industry-leading discovery success rate of 75 percent (compared to an estimated industry average of 0.5 percent), while reducing exploration costs by up to 80 percent.

Earth AI’s model is focused on identifying mineral deposits using AI, validating them through drilling and then selling the multi-billion-dollar mining rights to large cap mining companies. The company’s predictive technology has been extensively trained using continental scale data sets that combine and contextualize 400 million pieces of disparate information along with satellite remote sensing to identify greenfield prospects — a key differentiator to other exploration technologies that focus on identifying resources near existing mines. This ability makes Earth AI an integral partner for the mining industry as it seeks to meet the exponential growth in demand for critical minerals resulting from the global energy transition.

“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.

Leveraging the latest technology, Earth AI is poised to become the origination engine of the mining industry, providing organic growth of new mining assets to an industry that desperately needs it to meet the coming tidal wave of demand.

Earth AI, founded in 2017, is a predictive explorer and driller for clean energy metals that is disrupting the mineral industry through a novel approach using AI-powered mineral deposit discovery software and proprietary low disturbance drilling technology. The company’s technology has achieved an industry-best 75 percent discovery success rate, while at the same time speeding up the mineral exploration process by 4x and reducing costs by up to 80 percent. The company operates in Sydney, Australia, and Los Angeles, California.

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