VerAI Discoveries Secures $24 Million for AI-Based Mineral Exploration

VerAI Discoveries has secured $24 million in a Series B funding round led by Insight Partners, announced in a press release. The funding will support the expansion of VerAI's AI-driven mineral exploration projects, which aim to identify concealed mineral deposits with high accuracy.

The investment will accelerate the testing and economic development of VerAI's 60+ mineral projects, as well as expand the company's portfolio. VerAI's proprietary AI Discovery Platform is designed to detect hidden mineralization beneath covered terrains, such as dense forests and ice sheets, reducing exploration risks and costs.

Jeff Horing, Co-Founder and Managing Director at Insight Partners, will join VerAI's Board of Directors, highlighting the strategic importance of this partnership. VerAI's approach to mineral exploration represents a significant shift from traditional methods, leveraging AI to unlock value in underexplored areas.