# VerAI Discoveries

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/verai-discoveries

- Industry: Mining
- Headquarters: Needham, US
- Website: www.ver-ai.com
- Total disclosed funding: $36M
- Latest round: Series B (Feb 13, 2025)
- Investors on record: 5

## About

Based in Massachusetts, US, and founded in 2020 by CEO Yair Frastai, and COO Amitai Axelrod, VerAI Discoveries, Inc. operates as an AI-based mineral asset generator that intends to detect concealed mineral deposits to accelerate the global zero-carbon transformation. In October 2022, VerAI Discoveries, Inc. raised USD 12 million in a Series A funding from Blumberg Capital, Chrysalix, T. Rowe Price Associates, and Orion Resource Partners. In February 2025, VerAI Discoveries Inc raised USD 24 million in series B funding led by new investor Insight Partners, with participation from returning investors Blumberg Capital, Chrysalix Venture Capital, and Orion Resource Partners.The company utilizes AI-based mineral asset generator technology to develop targets indicating where valuable minerals exist and then secures partners to further explore, discover, and ultimately extract those materials from the earth. VerAI’s technology incorporates machine learning searching capabilities in seismic, electromagnetic, and gravimetric data, which helps detect mineral deposits efficiently as compared to the human-centric approaches. The company plans to use its proceeds from February 2025 funding to increase its collection of artificial intelligence-driven mineral discovery assets worldwide.

## Funding rounds

- Series B, Feb 13, 2025, $24M — Insight Partners, Chrysalix, Blumberg Capital, Orion Resource Partners
- Series A, Oct 17, 2022, $12M — T Rowe Price, Chrysalix, Blumberg Capital, Orion Resource Partners

## Investors

- T Rowe Price (https://capitalatlas.ai/funds/t-rowe-price) — Series A
- Chrysalix (https://capitalatlas.ai/funds/chrysalix) — Series A, Series B
- Blumberg Capital (https://capitalatlas.ai/funds/blumberg-capital) — Series A, Series B
- Orion Resource Partners (https://capitalatlas.ai/funds/orion-resource-partners) — Series A, Series B
- Insight Partners (https://capitalatlas.ai/funds/insight-partners) — Series B