Finnish Hypermine secures seed funding to advance ai-powered mining technology

Hypermine, a spinout of VTT Technical Research Centre of Finland, has announced the successful closure of its seed funding round. The funding round consists of private equity investments from Stephen Industries and Sage Enterprises, as well as an Intellectual Property Rights (IPR) investment from VTT. VTT shared the news with AIN.

About Hypermine

• Hypermine is a Finnish company which combines laser illumination, hyperspectral sensing, and machine-learning algorithms to help mine operators sort valuable minerals early in the process.

• This improves resource recovery, increases profitability by 3–10%, and extends mine lifespans. The technology also reduces energy use by 10% and cuts ore flotation acids and water usage by 15%. 

• Its broadband laser illumination allows for remote mineral detection under any conditions, making it applicable from the excavation stage for better mining decisions.

“Meeting society’s material needs without damaging the environment is not an easy undertaking. We want to make mining more efficient, which is key for mining companies to extract more minerals at lower costs, while also minimizing environmental impact and reducing the use of water, acids, and energy. We’ve already proven our technology in multiple different environments and have vast market potential.  We are continuing to partner with major players in the global mining industry and have ambitious growth plans,” says Markku Makkonen, CEO of Hypermine.

Investment details

The funding round includes private equity investments from Stephen Industries and Sage Enterprises, along with an Intellectual Property Rights (IPR) investment from VTT. The amount of the deal was left undisclosed.

• Stephen Industries is a Finnish family-owned investment company which specializes in Healthtech, Deeptech, and Greentech sectors, investing in innovative companies with a strong commitment to Environmental, Social, and Governance (ESG) values.

• Sage Enterprises is a UK-based venture capital firm that partners with companies at the intersection of energy and technology.

• VTT Technical Research Centre of Finland is a leading non-profit research institute specializing in industrial innovation, sustainability, and advanced technologies like AI and biotechnology. It collaborates with industries, startups, and government organizations to turn research into practical solutions.

The funding will be used to strengthen Hypermine’s team, support current customers and acquire new customers, as well as achieve profitable growth.