LoopX, a Canadian AI company developing intelligent systems for underground mining, has raised $4.05 million in seed funding led by BDC Seed Venture Fund and Orion Industrial Ventures, with participation from Hatch. The investment will support hiring across AI engineering, customer success and go-to-market as the company scales its Physical AI platform for mining operations.
AI for safer mining operations
LoopX develops an AI platform that combines thermal vision, edge computing and proprietary models trained on mining data to help equipment operate safely in unpredictable underground environments. The platform powers applications including Collision Avoidance System (CAS), LoadSight for automated payload measurement and material tracking, and BoomGuard for active safety around boom machines.
“We believe high-risk environments deserve the most intelligence. Mining is where our Physical AI is tested under the toughest real-world conditions. Every deployment expands our proprietary mining dataset and strengthens our AI models, creating a continuous learning cycle that brings us closer to the next generation of intelligent industrial machines. We're grateful for the support of BDC, Orion, and Hatch as we accelerate that mission,” said Chao Yu, CEO and Co-founder of LoopX.
Backing future industrial AI
LoopX technology is already deployed across eight active mine sites with major operators and contractors, including Vale Base Metals and Cementation Americas. Each deployment provides operational data that improves AI performance while helping increase safety and productivity.
“LoopX is bringing a differentiated approach to mining operations, leveraging advanced intelligence in some of the industry's most challenging environments. We believe its technology has the potential to improve safety outcomes and productivity across mining operations and we're excited to support their growth,” said Mark Smith, Partner and Team Lead at the BDC Seed Venture Fund.
“This is exactly the kind of company that Orion Industrial Ventures was built to back: a differentiated technology, led by a driven and passionate founding team, and with early traction with flagship customers to demonstrate results in the field. LoopX is targeting one of mining's most complex operational challenges and we are excited to join Chao and the team on this mission,” said Mark Frayman, Managing Partner at Orion Industrial Ventures.
“LoopX has built an incredible team developing AI technology with unlimited potential to make mining safer and more productive. We are excited to support the team as both an investor and a partner on this journey,” said Mark Deziel, Global Director of Mining at Hatch.