Aurus and ChileGlobal Ventures (through itsCLIN fund) made an undisclosed investment in TIMining, a Chilean intelligent mining platform.
(Contxto) Chilean startup, TIMining, has its eye on the wider world after raising a round lead by Aurus and ChileGlobal Ventures—via its mining tech CLIN fund.
The money will be going towards expansion this year towards those other global raw materials behemoths, Argentina, Brazil, the United States, and Australia.
However, it would seem that TIMining closed the cash for this ambitious growth due to the innovative solutions it holds in store. These are namely a combination of data analyitics, Internet of Things (IoT), and Artificial Intelligence (AI) solutions, all of which together result in “intelligent mining.”
The amalgam of these technologies allows the company to create a digital twin of the mine. This means that the startup can model the systems, activities, cargo and transport operations, and other goings on inside this complex industrial system in order better run its intelligent mines.
Better, faster, deeper, further
The startup-cum-scaleup has an ambitious 2020 ahead of it.
CEO, Nicolás Jubera, explains that next week they will be closing the second round of an investment destined to bankroll their international expansion:
“In mid-2019, we received an initial US$2.5 million and now we’re looking to raise US$1.3 million. It has been a two step process.”
The company will therefore be able to mark some Argentine, Brazilian, Aussie, and US-shaped notches on their bedpost to go alongside their existing operations in 25 mines across Peru, Canada, Colombia, and Chile.
Indeed, Jubera has also announced the fact that they’ve actually gone on to open offices in Argentina already and are currently holding talks with potential clients as I write these very words.