Oxus Metals AI raises $36M to hunt critical minerals with AI in Central Asia
What's the deal? Oxus Metals AIDealroom has a profile for this one. Try Dealroom → has closed a nearly $36 million early-stage funding round, valuing the Singapore-based startup at $180 million. Founded by David Zhen Yin, former co-founder of Stanford University's Mineral-X program, Oxus uses AI to locate critical mineral deposits.
What's the endgame? The company's platform generates thousands of plausible subsurface models from geological data, then eliminates those that conflict with new drilling results to rank the most efficient exploration targets. "Our approach is like playing Go with planet Earth," said Yin. The result, he said, is "much fewer drill holes, lower costs, and faster discoveries."
Why now? Demand for critical minerals is outpacing supply across power grids, renewables, and AI data centers. The International Energy Agency projects announced copper projects will fall 25% short of demand in 2035, with mines taking an average of 16.5 years from discovery to first production.
Where's the money going? Oxus will accelerate AI-driven exploration across Central Asia and other resource-rich regions. In Kazakhstan, it is working with one of the region's largest mining operators to extend the life of a copper mine that has run for nearly 80 years despite tens of thousands of historical drillholes.
The startup has also signed a memorandum of understanding with Kazakhstan's Ministry of Industry and Construction and its Ministry of Artificial Intelligence and Digital Development. Under the deal, geological data will be processed and stored domestically in a secure environment, with a working group formed within 15 business days.
The frame: At $36 million, the round ranks in the 96th percentile among all-time early-stage VC rounds for energy companies in Singapore, out of 456 comparable deals.
What could go wrong? The financing is not proof of discoveries. The key test will be whether Oxus's models lead to successful drilling and credible local partnerships.
The signal: The round lands amid renewed investor interest in AI-enabled mineral exploration, which the IEA says recovered in 2025 even as overall mineral investment fell. Paris-based Lithosquare raised $25 million in May, and Terra AI drew a $20 million investment from BHP VenturesDealroom has a profile for this one. Try Dealroom → in June — though all remain far below sector leader KoBold Metals. Oxus's Central Asian focus could help diversify mineral supply beyond established jurisdictions.
Read more: prnewswire.com
Image credit: Generated with Gemini
