A Chilean startup that offers digitization services inspired by video games to some of the largest mines in the world has collected US$10 million from investorsamong which is the richest family in Chile.
TIMining provides data analysis and simulation in real time to increase productivity and safety at approximately 50 mines, including some owned by BHP Group, Anglo American Plc and Codelco. The company wants to quintuple its customer base and grow its revenue tenfold in the next five years. as mines face lower ore quality and higher costs.
Nicolas Juberaleader and co-founder of the startup, said in an interview from Santiago that, in general, mines They achieve between 75% and 80% of their plans monthly miners and that, with their software, that figure should increase by 10 percentage points.
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The recent financing round was led by Kayyak Ventures and included investors such as LarrainVial and the Luksic family wealth manager. The firm also turned to the Santiago startup exchange, ScaleX, and does not rule out going public or acquire peers in the future to accelerate growth, he said.
TIMining creates a digital twin of mining operations from data received from sensors or equipment connected to the network as a way to increase efficiency. To develop the software, the team was inspired by video games like Warcraft. Jubera himself, in his youth, was a fan of video games.
Translated by Bárbara Briceño.