Mitsubishi invests $5 mlin to bring MineSense's tech to market
MineSense Technologies Ltd, a provider of sensor-based ore data and sorting solutions for large-scale mines, has secured an investment of about $5 million (US$4 million) from Japanese conglomerate Mitsubishi Corp. The deal, which follows MineSense's $19 million round last year, will accelerate the company's digital offering and support a strategy to "expand into key mining regions worldwide," CEO Jeff More said. Mitsubishi's investment took the form of a convertible bond. Founded in 2008, Vancouver-based MineSense's other investors include Aurus Ventures, Caterpillar Ventures, Chrysalix Venture Capital, Cycle Capital, EDC and Prelude Ventures.
7 February 2018•2 mins read
