Insider Brief
- Quminex raised CAD $1.5 million in pre-seed financing to develop its mineral exploration technology, with Quantacet leading the round alongside QAI Ventures and angel investors.
- The funding will support growth and development of the Quminex Discovery Platform, which uses machine learning to turn geological data into testable mineral exploration targets.
- Quminex completed commercial projects with a Canadian mid-tier mining company and Tech-X Resources, providing field applications to help validate and refine its technology.
- Photo by omid roshan on Unsplash
PRESS RELEASE — – Quminex, an early-stage Canadian mineral exploration technology company focused on discovering Canada’s next major critical mineral deposits, today announces that it has secured $1.5 Million CAD of venture capital financing. The investment was led by Quantacet, joined by QAI Ventures, and angel investors.
Quminex accelerates mineral exploration through advanced computational techniques. By reducing geological uncertainty, the technology increases success rates and speeds up the discovery of critical mineral deposits. Quminex transforms complex datasets into explainable and testable mineral system models using proprietary machine learning workflows, enabling smarter capital allocation. Built on transparency, sustainability, and credibility, Quminex is committed to helping secure a stable, responsible supply of critical metals.
The financing will be used to accelerate growth and advance technological development of the Quminex Discovery PlatformTM, an end-to-end exploration stack. It is built on rigorous data preparation, feature engineering and feature selection tools, paired with powerful computational techniques and machine learning models.
“This $1.5 million pre-seed investment is a critical milestone, accelerating the development of the Quminex Discovery Platform,” said Marc Fassbender, CEO and Co-Founder of Quminex. “By transforming early-stage exploration into a repeatable, data-driven process, we are changing how ore deposits can be discovered. This capital will enable us to scale our proprietary platform to locate the critical mineral deposits essential for our society.”
“Quminex is modernizing mineral exploration with a unique approach leveraging cutting-edge computing techniques. We are excited to support the team as they start deploying their technology in the field,” said Chloé Archambault, Partner at Quantacet. “Securing access to critical minerals is essential to Canada’s economic development and to building resilient, secure supply chains for the technologies that will shape the coming decades. By making exploration faster, more reliable and more sustainable, Quminex can help Canada turn its geological wealth into a lasting strategic advantage.”
“As a geoscientist by training, I know how much of exploration still depends on expert judgement applied to sparse and fragmented data. Quminex turns that uncertainty into explainable, data-driven targets. This aligns directly with QAI Ventures core thesis: investing in advanced computing that solves hard problems in strategic industries. Critical minerals are the foundation of the energy transition and of technological sovereignty. We are proud to back a team that has already proven its value with paying customers,” said Alexandra Beckstein, CEO and Founding Partner, QAI Ventures.
Quminex completes two commercial contracts with exploration companies
Quminex also announces that it has successfully completed projects with a Canadian mid-tier mining company, and Tech-X Resources Inc., a B.C.-based private exploration company, to identify targets on their exploration properties. These contracts provided Quminex with valuable real-world test cases to validate and further advance its technology.
“Securing multiple commercial contracts with exploration companies confirms that our technology delivers immediate value,” said Marc Fassbender, CEO and Co-Founder of Quminex.