Digital mining solutions provider MineSense in December announced that it had secured $42-million in Series E funding, which would be used to accelerate the commercial deployment of its solutions, driving growth and profitability.

The financing – led by J.P.Morgan Asset Management’s Sustainable Growth Equity team, with participation from new investor sustainability venture fund Evok Innovations and existing investors including Prelude Ventures, BDC Industrial Innovation Venture Fund, Cycle Capital and Chrysalix Venture Capital – will support MineSense’s contributions to the low-carbon transition, which will require abundant access to sustainably-mined minerals critical for electrification, energy generation and storage components.

MineSense is “pioneering data-driven solutions” that improve ore grade control, operational profitability and carbon intensity across the metals mining industry, with an initial focus on copper – a critical component for supporting the transition to a low-carbon economy.

Mining companies are increasingly choosing MineSense’s technologies to maximise ore recovery, minimise dilution and enhance operational sustainability.

Further, as industries seek to mitigate Scope 1, 2 and 3 emissions, the need for supply chains to become more sustainable – including mining operations – will grow. The global mining industry is faced with the challenge of meeting increasing demand while shifting towards more sustainable practices.

MineSense stated that it addresses both needs with its market-leading technology that enables miners to more efficiently mine valuable ore, reduce waste and improve downstream processing.

Its product ShovelSense provides precise ore-waste definition and unlocks unique, previously inaccessible datasets at the mine’s extraction face.

This real-time data enables removal of waste from ore and recovers valuable ore from waste by making smart routing decisions. This reduces the amount of waste processed, production of tailings, and energy, water and reagent consumption.

Metal recovery is increased materially, with production from operating mines increasing by 5% to 25% on existing infrastructure.

MineSense currently serves mines across Canada, Chile and Peru. The fundraising will allow the company to expand its coverage globally and extend into other critical metals such as nickel, cobalt, zinc and iron.

“We are pleased to partner with J.P. Morgan Sustainable Growth Equity and Evok to scale our ore grade data mining solutions. This funding and strategic support will allow us to continue executing on our strategy of delivering profit-enhancement, operational efficiency and carbon intensity reduction to critical mining operations,” says MineSense CEO Jeff More.

“MineSense is a distinctive example of how innovative climate technology companies are meeting the challenge of transforming industry to support the low carbon transition. We look forward to partnering with MineSense and adding value through J.P. Morgan’s global client network, best-in-class research and data capabilities and substantial sustainability resources,” says co-managing partner of sustainable growth equity Osei Van Horne who joined the MineSense board

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“We are excited to invest in a technology platform that offers a data-driven decarbonisation pathway for mining, which builds on the strategy of our Sustainable Growth Equity team beginning earlier this year. Alongside Evok and existing investors, we will provide strategic support to MineSense as the company continues to deliver a win-win solution to customers that drives positive economic and climate outcomes,” says co-managing partner of sustainable growth equity Tanya Barnes.



With a growing number of commercial customer relationships, MineSense is enhancing its product, technical and sales capabilities to facilitate a number of new deployments and expand its product roadmap.

MineSense chief data officer Frank Hoogendoorn, MineSense regional manager for Europe, the Middle East and Africa (EMEA) Brett O’Leary, MineSense EMEA account manager Hantumba Chilala and MineSense EMEA mining solutions specialist Johannes Kruger will be attending this year’s Investing in African Mining Indaba.