
VerAI
AI-based mineral asset generator which is disrupting mineral exploration by dramatically improving the probability of discovering mineral deposits.
Date | Investors | Amount | Round |
---|---|---|---|
N/A | €0.0 | round | |
investor investor investor investor | €0.0 | round | |
* | $24.0m | Series B | |
Total Funding | 000k |
USD | 2021 | 2022 | 2023 |
---|---|---|---|
Revenues | 0000 | 0000 | 0000 |
% growth | - | 20 % | 67 % |
EBITDA | 0000 | 0000 | 0000 |
Profit | 0000 | 0000 | 0000 |
EV | 0000 | 0000 | 0000 |
EV / revenue | 00.0x | 00.0x | 00.0x |
EV / EBITDA | 00.0x | 00.0x | 00.0x |
R&D budget | 0000 | 0000 | 0000 |
Source: Dealroom estimates
Related Content
VerAI is a pioneering startup operating in the mineral exploration sector, leveraging artificial intelligence (AI) to revolutionize the discovery of mineral deposits. The company's primary focus is on the discovery of critical minerals such as Copper, Cobalt, Nickel, and Lithium, which are essential for the green-energy transition, including electric vehicles, renewable energy, and electricity storage technologies.
The company operates in a market where the demand for these minerals is increasing, but the supply is dwindling due to declining metal production and a lack of new discoveries. VerAI is addressing this supply gap, estimated to be worth trillions of dollars, by improving the efficiency and success rate of mineral exploration.
VerAI's business model revolves around its proprietary AI/ML Discovery Platform, which uses custom datasets to identify the location of concealed mineral deposits with high accuracy. This innovative approach increases the probability of successful discoveries by a significant margin, reduces the targeting time from years to months, and cuts the targeting costs by over 90%.
The company generates AI-based, high-probability target portfolios that are ready for drilling. It then partners with explorers to develop these targets, thereby creating a scalable asset portfolio. This partnership model allows VerAI to monetize its AI technology and expertise in mineral exploration.
In summary, VerAI is a disruptive player in the mineral exploration sector, using AI to unlock a $100B opportunity by changing the way the world discovers concealed mineral deposits.
Keywords: Artificial Intelligence, Mineral Exploration, Green-Energy Transition, Critical Minerals, Supply Gap, Proprietary AI/ML Discovery Platform, High-Probability Target Portfolios, Scalable Asset Portfolio, Partnership Model, Disruptive Innovation.