LoopX raises $4.05M seed to bring AI to underground mines
What's the deal? LoopX InnovationDealroom has a profile for this one. Try Dealroom →, a Canadian Physical AI company building machine intelligence for underground mining, has closed a $4.05 million seed round. BDC Seed Venture Fund and Orion Industrial VenturesDealroom has a profile for this one. Try Dealroom → co-led, with Hatch participating.
What's the endgame? LoopX develops what it calls "All-Condition Intelligence" for uncontrolled mining environments. Its platform combines thermal vision AI, edge computing, and models trained on real-world mining data to help equipment see, understand, and make decisions underground.
The technology powers applications including a collision avoidance system for mobile equipment, automated payload measurement, and active safety around boom machines. The proceeds will fund hiring across applied AI engineering, customer success, and go-to-market.
Why now? LoopX already has systems deployed across eight active mine sites, including with Vale Base MetalsDealroom has a profile for this one. Try Dealroom → and Cementation Americas. Each deployment feeds back into its proprietary dataset, sharpening the models.
Why it matters: "We believe high-risk environments deserve the most intelligence," said Chao YuDealroom has a profile for this one. Try Dealroom →, chief executive officer and co-founder. Underground mining is among the most hazardous industrial settings, and safety and productivity gains are the core pitch.
Investors framed the bet around field traction. Orion's managing partner Mark FraymanDealroom has a profile for this one. Try Dealroom → called LoopX "exactly the kind of company that Orion Industrial Ventures was built to back," citing "early traction with flagship customers." BDC's Mark Smith pointed to "a differentiated approach to mining operations."
The signal: At $4.05 million, LoopX's round lands in the 94th percentile for seed deals in Canadian transportation by size — a notably large early-stage cheque in a niche sector. It reflects growing investor appetite for Physical AI applied to heavy, high-risk industries where safety returns are tangible.
Read more: Business Wire (Morningstar)
Image credit: LoopX AI
