Plotlogic
Assembly Line
⛏️ International investors pile into BHP-backed mining tech start-up, Plotlogic
BHP-backed mining tech start-up Plotlogic has banked a $US28 ($43 million) series B funding round, co-led by Galvanise Climate Solutions, a US-based investment firm founded by former Democratic presidential candidate Tom Steyer and SE Ventures, the venture arm of French energy and automation giant Schneider Electric.
Founded in 2018 by ex-mining executive Andrew Job while doing his PhD at the University of Queensland, Plotlogic uses advanced sensors and artificial intelligence to determine the quality of minerals and metals. Mr Job said Plotlogic’s revenue had increased 10-fold over the past 10 months and the technology was being used by the likes of BHP, Brazilian miner Vale, South32 and leading lithium company Pilbara Minerals to help increase output and reduce waste.
Plotlogic’s OreSense technology combines LIDAR (laser-based light detection and ranging, hyper-spectral imaging) and machine-learning algorithms to deliver a more accurate view of an orebody.
Mining technology startup Plotlogic Announces $18M Series A
Deep-tech mining startup Plotlogic, whose mission is to improve mining to make it more sustainable, today announced it has raised an $18 million Series A led by Innovation Endeavors. The round included participation from DCVC, which led Plotlogic’s Seed round. Baidu Ventures and GRIDS Capital reinvested, and new investor Bentley iTwin Ventures also participated. The company plans to use the capital to invest in additional research and development, bolster commercialization, and support Plotlogic’s proprietary OreSense® Technology.
Plotlogic’s first commercial product combines LiDAR, hyperspectral imaging technology and advanced machine learning algorithms to produce real time ore characterization and enhance environmental performance.