RockMass Technologies, a HAX 2017 industrial startup that makes mining faster and safer through digital data capture solutions, announced the close of a $2.5M CAD seed round of financing.
These funds will expand RockMass’ global presence, extend its product offerings to geologists and geotechnical engineers, and integrate RockMass’ tools with major software analytics players.
An environment that is more than one-kilometer underground, in pure darkness, with high humidity levels and dust, is a challenging technological environment. Visual inspection of rockface features continues to be common practice with most engineers handwriting notes from a close range, in person. The process can be time consuming and imprecise which can cost mining companies millions of dollars annually through delayed or inaccurate decision making.
RockMass’ solutions bring cutting-edge technologies such as computer vision and robotics research to create safer and more efficient mining environments. Their flagship product, the Axis Mapper, is the first handheld hardware-software tool able to digitally measure geotechnical data, such as structural orientation, underground within seconds. Access to actionable data at the point of measurement can vastly improve operational efficiencies and safety within mining operations.
“We are excited to be working with some of the largest gold and base metals producers. Our 2020 pilot program is oversubscribed and spans across Canada, USA, Brazil, Peru, and Greenland.” says CEO and Co-Founder, Shelby Yee. “The mining market remains strong, especially within the precious metals sector. Mines have needed to increase their digital footprint as they are tasked with less personnel underground while maintaining production results. We are well positioned to excel in this environment.”
This funding round brings the company’s total funding to date to $3.5M. Participants in the Seed Round include SOSV, BDC, and strategic angel investors from Maple Leaf Angels and the Creative Destruction Lab.
RockMass Founders, Shelby Yee and Matthew Gubasta, were recently selected as Forbes 30 Under 30 in Manufacturing and Industry. They are also alumni of the Creative Destruction Lab, HAX Hardware Accelerator, Next Canada, and the DMZ.