Brisbane mining-tech startup Plotlogic backed by US billionaire in $42m in Series B

Brisbane-based deep-tech mining company Plotlogic has secured US$28 million ($42 million) in Series B funding led by major global climate technology investors, including US billionaire investor and philanthropist Tom Steyer and his investment partner Katie Hall.

In one of thelargest funding rounds for an Australian tech company this year, Steyer and Hall’s climate-focused investment vehicle Galvanize Climate Solutions, and SE Ventures, which is backed by French energy giant Schneider Electric, co-led the round to help drive the company’s ‘ambitious growth agenda’ to reduce carbon emissions for the resources sector.

Founded by Dr Andrew Job five years ago, Plotlogic has become a global leader in ore characterisation, using AI technology to scan terrain and enable miners to have greater precision in the extraction of critical minerals and metals.

The Series B round was also supported by Plotlogic’s existing investors Innovation Endeavors, DCVC, Bentley iTwin Ventures and GRIDS Capital, each of which have doubled down on their Series A investments.

https://www.businessnewsaustralia.com/articles/brisbane-mining-tech-startup-plotlogic-backed-by-us-billionaire-in--42m-in-series-b.html