DENVER / LONDON (IT BOLTWISE) – US biotech startup Endolith has raised $13.5 million in a first round of funding to further develop its AI-powered technology for environmentally friendly metal extraction. With the support of investors focused on national security, the company plans to revolutionize the efficiency and sustainability of metal extraction through the use of microbes.
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US biotech startup Endolith recently announced that it had raised $13.5 million in an initial round of funding. These funds will go toward the development of AI-powered technology that uses microbes to extract copper and other critical minerals from low-grade and complex ores. This method could provide a greener and potentially more cost-effective alternative to traditional mining techniques.
The funding was backed by investors with a national security focus, with Baltimore-based Squadra Ventures leading the charge. Other participants in the financing round included Draper Associates, Collaborative Fund and Overture Climate Fund. This support reflects financial markets’ growing interest in technologies that are viewed not only as environmental projects but also as components of the national security infrastructure.
Liz Dennett, founder and CEO of Endolith, emphasized the importance of the technology in a press release: “Every technology, from electric vehicles to AI data centers, relies on metals that the world is running out of. Our microbes transform mineralized material into new supplies, empowering an industry that has not fundamentally changed in two hundred years.”
With geopolitical tensions causing disruptions in supply chains and increasing demand due to the transition to clean energy, interest is growing in companies that can bolster domestic supplies of critical minerals. Endolith’s approach, based on combining technology, data and industrial systems, could provide a scalable route to securing critical minerals.
Currently, Endolith’s technology is still in its early stages and requires further scaling. The initial funding will go towards piloting, process validation and expanding the microbial extraction systems. An additional $3 million is expected following successful laboratory testing under a BHP-led program and initial commercial success.
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