Novamera is a venture-backed clean-technology company developing its Sustainable Mining by Drilling (SMD) system—described as “keyhole surgery” for mining—to mine small-scale narrow vein deposits with minimal waste and disturbance. The core product combines unique downhole sensors, machine learning algorithms, and proven drilling technology to enable precision extraction. The company has commenced a full field trial of the SMD solution at Anaconda Mining’s project site in Newfoundland, running through the end of November as a proof of concept to test the entire system and process. Novamera will use the Financing together with non-repayable funding from Sustainable Development Technology Canada to develop its first-generation SMD system and scale commercialization. As part of this milestone the company added two new board members, including a partner from BDC Capital, and reported a board resignation. Novamera develops Sustainable Mining by Drilling (SMD), a system that combines directional drilling and ground‑penetrating radar with patent‑pending innovations to access high‑grade, steeply dipping narrow‑vein deposits. SMD is designed to target ore selectively with surgical precision, reducing waste rock disposal and enabling a smaller environmental footprint as well as lower energy and water consumption versus conventional selective mining methods. The company markets the system as modular and cost‑effective due to limited development costs, with the potential to make deposits economic that are not today and to extend existing mines using current infrastructure. Novamera was spun out from Anaconda Mining and was a finalist at the 2019 Disrupt Mining competition. The venture‑backed start‑up has secured investment from Chrysalix Venture Capital’s RoboValley Fund to advance development and commercialization of SMD. Novamera positions its technology as a means to make mining safer, more sustainable and more profitable while unlocking new categories of narrow‑vein ore bodies globally.

Total raised

$5M

Funding rounds

2

Latest round

Series A

Latest activity

Jul 2021