MineWatch Secures $900K Funding Round
MineWatch, a Santiago-based mining technology startup, has raised $900,000 in a recent funding round led by Alza Mining Tech. The company specializes in monitoring underground mining fleets, both in connected and disconnected environments, to improve operational efficiency and productivity.
Expansion of Mining Technology
Founded in 2022, MineWatch has developed a wireless infrastructure that enables real-time tracking of workers and equipment in underground mines without the need for traditional cabling or WiFi networks. The technology utilizes a mesh network of battery-powered wireless nodes that communicate through radio frequencies. Each node can cover a range of up to 250 meters, allowing extensive coverage of underground tunnels with minimal infrastructure.
Strategic Use of Funds
The newly secured funds will be directed towards expanding MineWatch's commercial team and enhancing its product features. These strategic moves aim to bolster the company's market presence and technological capabilities.
Company Location
MineWatch is headquartered at Avenida Hernando de Aguirre 201, Oficina 603, Providencia, Santiago Metropolitan Region, CL.
Investor Involvement
The lead investor in this funding round is Alza Mining Tech. No additional investors were disclosed.
MineWatch currently serves clients in Chile, including contractors at the El Teniente mine, and employs 18 people. The company aims to leverage this funding to further its mission of enhancing productivity and safety in the mining sector.