LatAm List – TIMining, a fintech that is using artificial intelligence and data analysis to create ‘smart mines’ in Latin America, has raised a second funding round of $3.8M from Aurus and ChileGlobalVentures.
TIMining uses smart technology to connect and retrieve data from within mines, which is then transformed into data information using advanced analytics and 3D computing algorithms. The startup is now looking to develop digital robots to build more efficient, safe, and sustainable mines.
“We are working with a data system that integrates data from mines into a complete model. We use Digital Twin technology to build intelligent mines,” explained Nicolás Jubera, CEO of TIMining.
The investment round was led by Aurus and ChileGlobalVentures through the company’s private investment fund CLIN, which focuses in part on smart solutions for mining.
TIMining is currently active in 25 mines in Peru, Colombia, Chile, and Canada, and is planning to expand into Peru, Argentina, Brazil, Australia, and North America.
Read more on Diario Financiero.