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§ Private Profile · Mississauga, ON, Canada
Novamera is a technology company.
Novamera has raised $5.0M across 1 funding round.
Key people at Novamera.
Novamera has raised $5.0M in total across 1 funding round.
Novamera delivers data-driven technologies to enable Surgical Mining™, a new mining method that leverages proprietary hardware and software to provide a rapid and targeted approach to extracting valuable metals and minerals while minimizing waste and environmental impact.
Novamera has raised $5.0M across 1 funding round. Most recently, it raised $5.0M Series A in July 2021.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jul 1, 2021 | $5M Series A | BDC Venture Capital | Chrysalix Venture Capital | Announced |
Key people at Novamera.
Novamera has raised $5.0M in total across 1 funding round.
Novamera's investors include BDC Venture Capital, Chrysalix Venture Capital.
Novamera is a Canadian mining technology company founded in 2019 that develops Surgical Mining™ solutions—data-driven hardware and software integrating with conventional drilling equipment to enable precise extraction of narrow vein mineral deposits previously uneconomic to mine[1][2][3]. It serves mining companies targeting high-grade, small-scale deposits like gold or copper, solving the problem of high CAPEX, large footprints, blasting needs, and environmental impacts by offering low-cost, scalable "keyhole surgery" for mining with smaller sites, lower GHG emissions, no blasting, and reduced waste[1][2][3][4]. The company has raised $8.6M total (latest $3.5M Series A-II about a year ago), holds 3 patents, and shows growth through partnerships like testing in Peru and commercial production starts[1][3][4].
Novamera emerged from founders Dustin Angelo (President, CEO, Co-Founder) and Allan Cramm's experience at Anaconda Mining in Newfoundland, Canada, where they operated a low-grade open-pit gold mine but struggled for nearly 10 years to economically mine the nearby high-grade, steeply dipping narrow vein "Romeo and Juliet" deposit just 1km away[5]. This challenge sparked the idea of Sustainable Mining by Drilling (SMD), initially to solve their internal issue by converting standard drills into precision tools using a proprietary Near Borehole Imaging Tool (NBIT) downhole sensor for guidance[2][5]. A pivotal moment came in 2019 as finalists in the Disrupt Mining Innovation contest, where audience feedback from global miners revealed widespread similar problems, shifting focus to commercializing the technology company-wide; they incorporated in Oakville, Ontario, and secured early funding including $5M Series A led by BDC Capital[1][4][5].
Novamera stands out in mining tech through these key strengths:
Competitors like NextOre (ore sorting) or Veracio (core scanning/AI) focus on processing or analytics, but Novamera uniquely targets extraction precision for narrow veins[1].
Novamera rides the critical minerals boom for energy transition metals (copper, gold, battery inputs), where global demand surges but supply lags due to declining easy deposits and regulatory hurdles for large-scale mining[3][5]. Timing is ideal: post-2020 ESG mandates and 2024 permitting discussions favor low-impact tech like Surgical Mining™, unlocking "stranded" narrow vein resources (common worldwide) amid mine development timelines stretching years[1][3]. Market tailwinds include AI/drone integration in mining, junior miners' cash flow needs, and investor shift to sustainable tech—Novamera influences by enabling smaller operators to compete, accelerating critical mineral production with 3x faster ROI profiles[2][7].
Novamera is poised to scale commercially, with recent production starts and partnerships signaling 2025-2026 pilots turning into full deployments at high-value sites[1][3][7]. Trends like AI-enhanced geophysics, stricter emissions rules, and critical minerals shortages will propel demand, potentially expanding to broader deposits or robotics. Influence may grow via acquisitions by majors or more VC, transforming uneconomic assets into cash cows—echoing its origin, Novamera could redefine mining from brute force to precision surgery for a mineral-hungry world[2][5][6].
