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§ Private Profile · Boston, MA, USA
VerAI Discoveries is a technology company.
VerAI Discoveries has raised $36.0M across 2 funding rounds.
Key people at VerAI Discoveries.
VerAI Discoveries has raised $36.0M in total across 2 funding rounds.
VerAI Discoveries operates as an AI-driven mineral asset portfolio company, utilizing advanced artificial intelligence and machine learning to identify concealed mineral deposits. Its core offering is a sophisticated AI platform designed to detect these hidden resources, significantly enhancing the probability of discovery in mineral exploration. The company's technical approach focuses on improving efficiency and reducing the inherent risks associated with traditional methods of geological surveying and resource identification.
The company was founded in 2020 by Yair Frastai and Amitai Axelrod. Their foundational insight recognized the immense potential for AI to transform the traditionally opaque and challenging field of mineral exploration. By leveraging cutting-edge algorithms and data analysis, they aimed to create a more predictable and effective pathway to locating valuable subsurface mineral assets. This approach addresses the increasing global demand for critical minerals.
VerAI Discoveries primarily serves entities engaged in mineral exploration and resource development, offering them a data-driven advantage in locating essential materials. The company's long-term vision centers on accelerating the global transition to a zero-carbon economy. It aims to achieve this by systematically uncovering critical minerals necessary for green energy technologies and sustainable industrial applications, thereby supporting the broader push towards a more sustainable future.
Key people at VerAI Discoveries.
VerAI Discoveries has raised $36.0M in total across 2 funding rounds.
VerAI Discoveries's investors include Insight Partners.
VerAI Discoveries has raised $36.0M across 2 funding rounds. Most recently, it raised $24.0M Series B in February 2025.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Feb 1, 2025 | $24M Series B | Insight Partners | — | Announced |
| Mar 2, 2023 | $12M Series A | — | — | Announced |
VerAI Discoveries is an AI-driven mineral asset portfolio company that develops a proprietary AI/ML Discovery Platform to identify concealed mineral deposits in underexplored terrains, targeting critical minerals like copper, cobalt, nickel, lithium, gold, and other precious and base metals essential for EVs, renewable energy, and energy storage.[1][2] The platform serves mining companies, investors, and explorers by generating drill-ready targets, shortening discovery timelines from years to months, reducing costs by over 90%, and increasing success probability by two orders of magnitude through advanced data analysis and pattern detection invisible to traditional methods.[1][2][3] It operates a scalable model across North and South America (Canada, U.S., Chile, Peru), building owned license portfolios and monetizing via equity, royalties, and partnerships, de-risking early-stage exploration while addressing a trillions-dollar supply gap from declining metal production.[1][2]
VerAI Discoveries traces its roots to 2012, when CEO and co-founder Yair Frastai joined a Tel Aviv initiative exploring opportunities in mining exploration, conducting over a year of research with global experts and pilots that revealed the potential of intelligence-driven technology to solve the core question: "Where to start drilling?"[3] This led to the launch of precursor company Quantum Discoveries in 2014, initially focused on state-of-the-art exploration without AI/ML, which evolved by relocating R&D and headquarters to Boston in 2017 for proximity to computer science hubs like MIT CSAIL, where they tested ideas and consulted faculty.[3]
Quantum shut down in early 2020 amid a strategic pivot, but Frastai and co-founder/COO Amitai Axelrod relaunched as VerAI Discoveries in 2020, fully embracing AI/ML on their established research foundation to create a scalable, efficient mineral discovery business aimed at accelerating the green energy transition.[3] The team integrates defense intelligence methods, mineral exploration expertise, and cutting-edge AI.[5]
VerAI rides the convergence of AI in resource extraction and the urgent demand for critical minerals amid a widening supply crisis—current production declines while needs for energy transition, tech, and security soar, with no easy discoveries left in covered terrains.[1][2] Timing is critical as traditional methods fail in underexplored jurisdictions, creating trillion-dollar gaps that AI addresses by enabling systematic, scalable targeting where humans can't compete.[1][3] Market forces like EV/renewable booms and geopolitical mineral security favor VerAI, positioning it to transform mining economics, de-risk investments, and accelerate sustainable energy by partnering with the sector to replenish supplies efficiently.[2][3]
VerAI is primed to expand its portfolio through more partnerships and drill results, scaling AI platform iterations for broader commodities and regions while validating discoveries to attract majors.[1][2] Trends like deepening AI-geoscience fusion, mineral nationalism, and green tech mandates will propel growth, potentially evolving VerAI into a dominant asset generator with royalties yielding long-term value.[2][3] As a pioneer de-risking the "new frontier" of concealed deposits, it could redefine exploration success, bridging today's supply crunch to a mineral-secure future—echoing its mission to make discoveries dramatically more probable.
