Ideon Technologies closes $16m Series A round led by Playground

Ideon Technologies is a Vancouver-based provider of high-resolution subsurface imaging for the mining industry.

  • The capital infusion will be used to expand Ideon’s production capacity and accelerate the commercialization of its Discovery platform
  • Ideon is working with mining companies and critical mineral suppliers, including BHP, Glencore, and Vale
  • Playground Global invests in science and technology

Ideon Technologies, a Vancouver-based provider of high-resolution subsurface imaging for the mining industry, has raised $16 million in Series A financing. Playground Global led the round. Other investors were not identified.

The capital infusion will be used to expand Ideon’s production capacity and accelerate the commercialization of its Discovery platform, which is helping to transform the critical minerals supply chain feeding the clean energy transition.

“Our company mission is to help accelerate the world’s transition to low-impact mining, which we’re achieving by delivering an unprecedented level of geological certainty in an exploration market that has traditionally been dominated by uncertainty,” said Gary Agnew, co-founder and CEO at Ideon, in a statement. “Today, billion-dollar decisions are being made with just 1 percent of 1 percent of knowledge of the ore body. Our solution gives clients the confidence to identify new discoveries, map and characterize ore bodies in-mine to accelerate resource-to-reserve conversion, and to target high-recovery/low-waste deposits to deliver critical minerals faster, more reliably, and more sustainably than ever before.”

Ideon is working with mining companies and critical mineral suppliers, including BHP, Glencore and Vale.

“To build a reliable, sustainable, secure critical mineral supply chain, there must be a radical new approach to discovering and mining critical metals and minerals,” said Bruce Leak, General Partner at Playground Global. “Ideon has developed a major technological breakthrough that is being used by the world’s largest mining companies, today. We couldn’t be more excited to partner with a team whose mission is aligned with ours and whose technology is already speeding the transition to a cleaner world.”

Silicon Valley’s Playground Global is an early-stage venture capital firm investing in ideas and entrepreneurs at the forefront of science and technology.