Vancouver’s VRIFY, a leader in AI-driven mineral exploration, has secured $12.5 million in Series B funding to accelerate the adoption of its AI-Assisted Mineral Discovery Platform, DORA.
The investment round was led by New York-based venture capital firm LGVP, with continued backing from Series A investors RCF Innovation and Beedie Capital, bringing VRIFY’s total funding to over $30 million.
DORA, which VRIFY describes as the world’s first AI-assisted mineral discovery platform, is designed to provide geologists and geoscientists with advanced AI-powered insights to improve mineral exploration efficiency. The platform will be officially unveiled at the 2025 Prospectors & Developers Association of Canada (PDAC) Convention on March 3, 2025, at the Metro Toronto Convention Centre.
“The urgency to discover new precious metal and critical mineral deposits has never been greater,” said Steve de Jong, Founder & CEO of VRIFY. “As capital begins flowing back into the sector, 2025 is set to be the year of AI-assisted mineral discoveries, and we’re playing a pivotal role in making this happen.”
Since its initial beta launch, 26 companies, including Canterra Resources, RUA Gold, and Southern Cross Gold, have partnered with VRIFY. In September 2024, DORA played a key role in identifying a high-grade gold discovery at Southern Cross’s Sunday Creek project, validating its potential to transform the sector.
DORA leverages deep-learning models and proprietary geological datasets to analyze vast amounts of exploration data, helping mining companies pinpoint new deposits faster. Unlike traditional methods, VRIFY emphasizes transparency, ensuring geologists receive clear, geoscientific explanations rather than black-box algorithmic outputs.
The Series B funding will support further development of DORA, enhancing its AI capabilities and expanding its reach. With AI rapidly reshaping the mineral exploration industry, VRIFY’s latest investment signals a major shift toward technology-driven discoveries.
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