VerAI Discoveries Secures $24 Million in Series B Funding Led by Insight Partners to Grow Its Global Asset Portfolio of AI-Based Mineral Discoveries

Whats Happening:

VerAI Discoveries, an AI-driven mineral asset company, has secured $24 million in Series B funding led by Insight Partners. The investment will accelerate the testing and economic development of VerAI's 60+ mineral projects, expand its portfolio, and advance its AI Discovery Platform. The funding round includes continued support from existing investors Blumberg Capital, Chrysalix Venture Capital, and Orion Industrial Ventures.

Key Moves:

• VerAI Discoveries raises $24 million in Series B funding led by Insight Partners

• Funding to accelerate testing and development of 60+ mineral projects

• Jeff Horing from Insight Partners joins VerAI's Board of Directors

By The Numbers:

• $24 million raised in Series B funding

• 60+ mineral projects in VerAI's portfolio

• Insight Partners has over $90B in regulatory assets under management

Key Quotes:

• "This is a pivotal moment for VerAI," said Yair Frastai, CEO and Co-Founder of VerAI Discoveries.

• "VerAI Discoveries is helping unlock value in the mineral exploration sector, an area where innovation has traditionally lagged," said Jeff Horing, Co-Founder and Managing Director at Insight Partners.

Bottom Line:

VerAI Discoveries' $24 million Series B funding round validates its AI-driven approach to mineral exploration. The investment will enable the company to expand its portfolio and advance its technology, potentially transforming how critical mineral resources are discovered and developed globally. This could have significant implications for industries relying on these resources for economic growth, energy independence, and advanced defense solutions.

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