Rio Tinto, Founders Factory back six mining tech startups

Rio Tinto (ASX, LON: RIO) and Founders Factory, a global venture builder and investor, have selected six startups from more than 500 applicants to accelerate technologies aimed at improving exploration and processing of critical minerals.

The companies, focused on artificial intelligence, advanced chemistry and spatial data, target more efficient discovery and recovery of key commodities such as copper, lithium and iron ore

The cohort includes Foresight Spatial Labs, which is developing a 4D spatial data platform for engineering and autonomy; Chemshift, focused on low-cost lithium refining into battery-grade material; Supra, which is creating cartridges for high-purity critical minerals; Material Difference, applying explainable AI to improve resource delineation; Voluna, using airborne neutron technology for real-time geochemical mapping; and Watergenics, which analyses industrial water streams in real time.

Rio Tinto said the program connects founders with its operational and technical expertise to help scale solutions that address persistent industry challenges. Founders Factory partners with entrepreneurs and major companies to create and scale early-stage startups, helping them secure pilot projects and accelerate their route to market.

“Startups have an important role to play in solving some of mining’s toughest challenges,” Rio Tinto general manager of innovation Emily Hilton said. “We are connecting exceptional founders with Rio Tinto’s operational and technical expertise to help turn promising ideas into technologies that could improve exploration, processing and critical mineral recovery.”

The latest cohort reflects growing investor interest in mining innovation, with the program’s broader portfolio raising more than $120 million in follow-on funding, signaling increasing commercial traction for emerging technologies in the sector.