About Mining Tech sector in Canada
The Mining Tech sector in Canada comprises 116 companies, including 41 funded companies having collectively raised $943M in venture capital money and private equity. Out of these, 36 are Series A+ funded.
Mining Tech sector in Canada has seen 14 acquisitions and 11 IPOs. This represents almost 21.6% of all such companies - which is higher than the 5.3% exit rate of tech companies in general.
This sector includes companies which provide technology solutions including software applications, new-age hardware and tech-enabled services across the mining value chain.
Mining Tech sector is also known as Smart Mining.
Companies which provide software solutions for exploration, mine planning, operations, refinery, inventory management, supply chain management and also general management solutions for mining like finance and accounting, HR, health safety and compliance, data and analytics, and simulators. Also included are companies providing tech-enabled services through proprietary hardware such as drill rig alignment technology, communication technologies, etc. Companies that manufacture traditional equipment, business services companies in staffing, marketing, IT services, consulting and online listing platforms for software/hardware products are excluded.
Key Metrics
Total Companies
Top Companies
Total Funding
Funded Companies
Series A+ Companies
Series C+ Companies
IPOs
Acquisitions
Also known as
Smart Mining
Top Mining Tech Companies in Canada
There are 116 Mining Tech startups in Canada which include Mangrove Lithium, Summit Nanotech, The Metals Company, Geologicai, VRIFY. Out of these, 41 startups are funded, with 36 having secured Series A+ funding.
Over the past 10 years, an average of 3 new companies have been launched annually. Notably, several of these startups have been founded by alumni of University of Toronto, Massachusetts Institute of Technology and The University of British Columbia.
Here is the list of top Mining Tech startups in Canada
Developer of modular scalable lithium refining technology for battery‑grade production. The company offers an electrochemical refining platform that converts lithium chloride or sulfate from diverse feedstocks including brines, hard rock, clay, and recycled sources into high‑purity lithium hydroxide or carbonate. The modular design enables co‑location with extraction or battery manufacturing facilities and scalable capacity adjustments. The process reduces waste, minimizes chemical requirements, and lowers carbon emissions compared to conventional methods. It is intended to support lithium supply resilience and flexible integration across the battery value chain.
Key facts about Mangrove Lithium
- Founded Year: 2013
- Location: Vancouver (Canada)
- Stage: Series B
- Total Funding till date: $60M
- Investors: BMW i Ventures, Breakthrough Energy and 7 Others
- Latest Funding Round: Series B, Jan 28, 2025, $*****
- Tracxn Score: 61/100 What is this?
- Competitors Rank: 6 of 7,261 Competitors
Developer of a process for extracting lithium. It provides a proprietary method to extract lithium sustainably by reducing GHG emissions and minimizing the use of chemicals and freshwater. Its technology consists of a plug-and-play automated process and rapid processing time.
Key facts about Summit Nanotech
- Founded Year: 2018
- Location: Calgary (Canada)
- Stage: Series B
- Total Funding till date: $95.7M
- Investors: BDC, Evok Innovations and 13 Others
- Latest Funding Round: Series B, Mar 18, 2025, $*****
- Tracxn Score: 61/100 What is this?
- Competitors Rank: 2 of 20 Competitors
Provider of metals for EV batteries. It is scaling nodule collecting and onshore processing systems to supply lower-impact metals to the global electric vehicle industry.
Key facts about The Metals Company
- Founded Year: 2008
- Location: Vancouver (Canada)
- Stage: Public
- Total Funding till date: $169M
- Investors: Allseas, North Sky Capital and 1 Other
- Latest Funding Round: Post IPO, Jun 16, 2025, $*****
- Tracxn Score: 58/100 What is this?
- Competitors Rank: 1 of 6 Competitors
4. Geologicai
Online geological analytics platform for the mining industry. It provides tools for rock analysis, core, and spectral scan, later profiling, etc. It offers a range of solutions including core scanning, laser profiling, photographic scan, hyperspectral scan, XRF scan, and AI-assisted core logging. It also offers solutions for mineral identification, quality checks, mapping, etc.
Key facts about Geologicai
- Founded Year: 2018
- Location: Calgary (Canada)
- Stage: Series B
- Total Funding till date: $100M
- Investors: Breakthrough Energy, Blue Earth Capital and 5 Others
- Latest Funding Round: Series B, Jul 17, 2025, $*****
- Tracxn Score: 56/100 What is this?
- Competitors Rank: 2 of 62 Competitors
5. VRIFY
Provider of an AI-assisted platform for mineral exploration data analysis. The platform synthesizes datasets using AI and deep-learning models. It assists geoscientists in identifying areas with high mineralization potential. The platform offers tools for data iteration and integration into geological models.
Key facts about VRIFY
- Founded Year: 2017
- Location: Vancouver (Canada)
- Stage: Series B
- Total Funding till date: $20.9M
- Investors: Beedie Capital Partners, Resource Capital Funds and 2 Others
- Latest Funding Round: Series B, Feb 27, 2025, $*****
- Tracxn Score: 55/100 What is this?
- Competitors Rank: 6 of 117 Competitors
Companies founded year-on-year in the Mining Tech sector in Canada
8 Mining Tech startups in Canada were founded in 2016 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2025 | - |
2024 | 2 |
2023 | 1 |
2022 | 3 |
2021 | 2 |
2020 | 5 |
2019 | 3 |
2018 | 6 |
2017 | 5 |
2016 | 8 |
Stage-wise distribution of Mining Tech sector companies in Canada
Out of the total 116 Mining Tech companies in Canada, 41 have secured funding. Among them, 36 have reached Series A or higher, and 32 to Series B or beyond.
Founded - 116
Funded - 41
Series A+ - 36
Series B+ - 32
Series C+ - 28
Company Stage | No. of companies |
|---|---|
Founded | 116 |
Funded | 41 |
Series A+ | 36 |
Series B+ | 32 |
Series C+ | 28 |
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Funding Trends in the Mining Tech sector in Canada
Total funding year-on-year in the Mining Tech sector in Canada
The Mining Tech sector in Canada saw a total funding of more than $936M in the last 10 years. The most amount of funding was in 2025 at more than $227M.
- Total Funding
Year | Total Funding |
|---|---|
2025 | $227M |
2024 | $21.7M |
2023 | $107M |
2022 | $198M |
2021 | $83.7M |
2020 | $26.8M |
2019 | $156M |
2018 | $31.6M |
2017 | $79.1M |
Recent Funding Rounds in Mining Tech in Canada
In the year 2025, till December 2025, Mining Tech companies in Canada have raised $115M in equity funding across 9 rounds.
In the same period last year (i.e. till November 2024), Mining Tech companies in Canada had raised $8.34M across 6 rounds.
So, 2025 has seen a 1281.04% rise in funding in Mining Tech companies in Canada as compared to 2024.
Here are some recent, important funding rounds in Mining Tech companies in Canada:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Series A | 6274 | Dec 01, 2025 | ||
Series B | 2559 | Nov 20, 2025 | ||
Series B | 3509 | Jul 17, 2025 | ||
Seed | 1271 | May 13, 2025 | - | |
Seed | 3231 | Apr 16, 2025 |
Top Investors in Mining Tech in Canada
Chrysalix Venture Capital is the top investor in Mining Tech companies in Canada based on number of companies invested.
Here are some top investors in Mining Tech companies in Canada:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Vancouver (Canada) | ||
Montreal (Canada) | ||
Denver (United States) | ||
Ottawa (Canada) | ||
Montreal (Canada) |
M&A activity in Mining Tech sector in Canada
In the year 2025, till June 2025, 1 acquisition happened in Mining Tech sector in Canada.
Here are some recent, important acquisitions in Mining Tech sector in Canada:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Jun 16, 2025 | ||
Business Acquisition | Jan 03, 2023 | ||
Business Acquisition | Nov 05, 2021 | ||
Business Acquisition | Sep 17, 2021 | - | |
Business Acquisition | Jun 07, 2021 |
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Acquisition trends in Mining Tech sector in Canada
Here are the acquisition trends in Mining Tech sector in Canada:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2025 | 1 |
2024 | - |
2023 | 1 |
2022 | - |
2021 | 5 |
2020 | 1 |
2019 | 2 |
2018 | 1 |
2017 | - |
2016 | - |
IPOs in Mining Tech in Canada
In the year 2024, till August 2024, 1 IPO happened in Mining Tech sector in Canada.
Here are some recent, important IPOs in Mining Tech sector in Canada:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Aug 15, 2024 | Canadian Securities Exchange (CSE) | |
Apr 01, 2022 | Toronto Stock Exchange - Venture Exchange (TSX-V) | |
Jan 07, 2022 | Toronto Stock Exchange - Venture Exchange (TSX-V) | |
Sep 21, 2021 | National Association of Securities Dealers Automated Quotations (NASDAQ) | |
Aug 29, 2017 | Canadian Securities Exchange (CSE) |
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Colleges which produce the most Mining Tech companies in Canada
Companies founded by alumni from top colleges in the Mining Tech in Canada
Most number of Mining Tech startups in Canada have been founded by alumni from University of Toronto, Massachusetts Institute of Technology and The University of British Columbia.
College | No. of companies |
|---|---|
University of Toronto | 4 |
Massachusetts Institute of Technology | 1 |
The University of British Columbia | 1 |
University of California (Berkeley) | 1 |
University of Cambridge | 1 |
University of Waterloo | 1 |
Total funding in Mining Tech companies founded by alumni from top colleges in Canada
In the last 10 years, University of Toronto graduates' Mining Tech companies in Canada have raised the most funding among top colleges. The University of British Columbia and University of Waterloo alumni are second.
College | Total Funding |
|---|---|
University of Toronto | $96.8M |
The University of British Columbia | $48M |
University of Waterloo | $48M |
Massachusetts Institute of Technology | - |
University of California (Berkeley) | - |
University of Cambridge | - |
Top News in Mining Tech in Canada
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Summit Nanotech's Lithium Facility Shows Robust Results, Boosting Commercial DLE ReadinessFinancial Post•Jun 11, 2025•Summit Nanotech
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E3 Lithium and Pure Lithium Report Positive Battery Cell Test ResultsFinancial Post•May 22, 2025•Pure Lithium, E3 Lithium
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E3 Lithium, Pure Lithium develop lithium metal batteries using Alberta brinesMining Technology•Mar 14, 2025•E3 Lithium, Pure Lithium
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E3 Lithium and Pure Lithium Build Lithium Metal Batteries Produced from Alberta BrinesBusiness Wire•Mar 13, 2025•E3 Lithium, Pure Lithium
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E3 Lithium and Pure Lithium Build Lithium Metal Batteries Produced from Alberta BrinesJuniorminingnetwork•Mar 13, 2025•E3 Lithium, Pure Lithium
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E3 Lithium and Pure Lithium Build Lithium Metal Batteries Produced from Alberta BrinesFinancial Post•Mar 13, 2025•E3 Lithium, Pure Lithium
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E3 Lithium and Pure Lithium Produce Lithium Batteries Using Alberta Brines and Innovative Battery TechnologyStockhouse Publishing•Mar 13, 2025•E3 Lithium, Pure Lithium
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E3 Lithium enters joint development agreement with Pure LithiumSeeking Alpha•Aug 20, 2024•E3 Lithium, Pure Lithium
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