Vancouver’s MineSense has closed a USD $42 million financing round led by J.P. Morgan Asset Management’s Sustainable Growth Equity team.
MineSense is pioneering data-driven solutions that improve ore grade control, operational profitability and carbon intensity across the metals mining industry, with an initial focus on copper – a critical component for supporting the transition to a low-carbon economy.
Mining companies are increasingly choosing MineSense’s technologies to maximize ore recovery, minimize dilution, and enhance operational sustainability.
The Series E financing round included participation from new investor Evok Innovations, a climate technology and sustainability venture fund, and existing investors including Prelude Ventures, BDC Industrial Innovation Venture Fund, Cycle Capital and Chrysalix Venture Capital.
MineSense has tripled revenue over the last year and was recently recognized as one of the fastest growing companies in North America by Deloitte for revenue growth of 3,154% between 2018 and 2021.
MineSense currently serves mines across Canada, Chile, and Peru. The new financing will allow the company to expand its coverage globally and extend into other critical metals such as nickel, cobalt, zinc and iron.
“We are pleased to partner with J.P. Morgan Sustainable Growth Equity and Evok to scale our ore grade data mining solutions. This funding and strategic support will allow us to continue executing on our strategy of delivering profit-enhancement, operational efficiency, and carbon intensity reduction to critical mining operations,” said Jeff More, CEO of MineSense.