Plotlogic, a Brisbane-based AI start-up has raised $41 million to make mining companies more efficient, while shrinking their environmental footprint.
BHP-backed mining tech start-up Plotlogic has banked a $US28 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.
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. The founder said Plotlogic initially hadn’t planned to raise capital until later in 2023, but the early conversations with potential investors evolved into an oversubscribed series B raise.
Plotlogic’s OreSense technology combines LIDAR and machine-learning algorithms to deliver a more accurate view of an orebody. Mr Job said the company was in advanced discussions with potential customers in Chile, Africa and North America.
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