Tech Company Financing Transactions
VerAI Discoveries Funding Round
T. Rowe Price, Blumberg Capital and Chrysalix Venture Capital participated in a $12 million Series A capital raise for VerAI Discoveries. The funding round was recorded on 3/2/2023.
Transaction Overview
Company Name
Announced On
3/2/2023
Transaction Type
Venture Equity
Amount
$12,000,000
Round
Series A
Investors
Proceeds Purpose
This funding comes amidst exponentially increasing global demand for many metals that are critical to global electrification, including copper, cobalt, lithium, and nickel. Operable across the vast under-explored areas of covered terrain, VerAI's targeting capabilities evolve the deposit identification success rates by two orders of magnitude while being more than 20x less expensive than traditional, human-centric techniques, and delivering a 20x faster generation in mineral targets.
Company Information
Company Status
Private & Independent
Industry
Artificial Intelligence
Mailing Address
75 2nd Ave 605
Needham, MA 02494
USA
Needham, MA 02494
USA
Phone
Undisclosed
Website
Email Address
Overview
VerAI is committed to accelerating the global zero-carbon transformation by discovering the minerals essential for our sustainable future. We are disrupting the Mineral Exploration Industry by deploying a revolutionary Artificial Intelligence Platform that detects concealed mineral deposits in the underexplored blue-ocean of covered terrain.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Yair Frastai
Chief Technical Officer
Uri Merhav
Co-Founder
Amitai Axelrod
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We report on every notable VC transaction. VC investment data records reported here are sourced from publicly available VC deal announcements. The data comes to us via our partnership with VentureDeal.com, an affiliated venture.
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