RockMass Technologies raised CAD$2.5M to provide digital solutions to mines
Funds will expand RockMass's global presence, extending its product offerings to engineers around the globe in mining operations.
TORONTO — RockMass Technologies, an industrial tech startup that aims to improve mining through digital data capture solutions, has raised $2.5M CAD of Seed Round financing.
These funds will expand RockMass’s global presence, extend its product offerings to geologists and geotechnical engineers, and integrate RockMass’s tools with major software analytics players.
An environment that is more than one-kilometre underground, 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’ 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 improve operational efficiencies and safety within mining operations.
RockMass’s products are used in underground mining operations around the world, including AEX Gold’s Nalunaq Project in South Greenland. “The Axis Mapper is straightforward and intuitive to use. It allows for rapid and safe data capture and Golder looks forward to using the Axis Mapper in its future projects” says Xander Gwynn, Golder’s Mining Geotechnical Lead in Europe.
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.