KorrAI In Y Combinator, Raising Funds
Summary
Halifax’s KorrAI, which uses artificial intelligence to help assess satellite images of mining sites, has joined the latest cohort of Y Combinator, arguably the world’s most prestigious tech accelerator. Co-Founder and CEO Rahul Anand said in an interview he hopes the funding will be part of the company’s seed round, which he aims to close around the time of the Y Combinator demo day in late March. Mining companies – especially small and medium-sized enterprises – have a big problem in analyzing geospatial images like satellite photos, as well as optical, radar, thermal, and magnetic surveys. The KorrAI platform brings together a range of high-quality satellite and aerial earth observation data to digitally analyze the terrain of possible mining sites. KorrAI is also working with Indigenous communities in the Canadian North to help them assess the mineral deposits on their lands and plot ways to develop and ship ore in a sustainable fashion, said Anand.