August 4, 2026 – Toronto & Sudbury, ON, Canada – The Accelerator Centre is excited to share that LoopX closed a $4.05 million Seed financing, led by BDC Seed Venture Fund and Orion Industrial Ventures, with participation from Hatch. This investment will help the LoopX team grow our team across applied AI engineering, customer success, and go-to-market as we continue building the future of machine intelligence for uncontrolled mining environments.
Underground mining is one of the world’s most demanding operating environments, where safety and productivity depend on making reliable decisions in unpredictable conditions. As the industry continues to raise the bar for safety, LoopX is building All-Condition Intelligence designed specifically for these complex environments.
The platform combines thermal vision AI, edge computing, and proprietary AI models trained on real-world mining data to give mining equipment the ability to see, understand, and make decisions across the full range of underground conditions. Today, the platform powers a growing portfolio of AI applications, including their Collision Avoidance System (CAS) for mobile equipment safety, LoadSight for automated payload measurement and material tracking, and BoomGuard for active safety around boom machines.
“We believe high-risk environments deserve the most intelligence. Mining is where our Physical AI is tested under the toughest real-world conditions. Every deployment expands our proprietary mining dataset and strengthens our AI models, creating a continuous learning cycle that brings us closer to the next generation of intelligent industrial machines. We’re grateful for the support of BDC, Orion, and Hatch as we accelerate that mission.” – Chao Yu, CEO and cofounder of LoopX
“LoopX is bringing a differentiated approach to mining operations, leveraging advanced intelligence in some of the industry’s most challenging environments. We believe its technology has the potential to improve safety outcomes and productivity across mining operations and we’re excited to support their growth.” – Mark Smith, Partner and Team Lead at the BDC Seed Venture Fund
“This is exactly the kind of company that Orion Industrial Ventures was built to back: a differentiated technology, led by a driven and passionate founding team, and with early traction with flagship customers to demonstrate results in the field. LoopX is targeting one of mining’s most complex operational challenges and we are excited to join Chao and the team on this mission.” – Mark Frayman, Managing Partner at Orion Industrial Ventures
“LoopX has built an incredible team developing AI technology with unlimited potential to make mining safer and more productive. We are excited to support the team as both an investor and a partner on this journey.” – Mark Deziel, Global Director of Mining at Hatch
Today, LoopX’s systems are deployed across eight active mine sites with major operators and contractors, including Vale Base Metals and Cementation Americas. Every deployment generates real-world data that strengthens its AI models, improves system reliability, and accelerates our ability to deliver safer, smarter, and more productive mining operations.
About BDC
BDC focuses on small- and medium-sized business owners, providing them financing, investment, and advice. As Canada’s development bank, we also support entrepreneurs who don’t fit the traditional mold working with a network of partners and help develop underserved markets to unlock economic potential. Our mission is to build strong, resilient businesses that drive Canada’s economic growth. BDC is a perennial Canada’s Top 100 Employer and B Corp certified. Learn more at bdc.ca.
About Orion Industrial Ventures
Orion Industrial Ventures (“OIV”) is focused on investing in new technologies to deliver a sustainable and economic supply of critical minerals, materials and natural resources. OIV sits within the broader Orion Resource Partners Group, which was founded in 2013 and is now among the largest private capital providers in metals and mining, with over $9.6 billion under management. Since inception, Orion-managed funds have provided financing to more than 80 mining projects across 29 different countries. OIV primarily targets Seed to Series B companies. Learn more at orionrp.com.
About Hatch
Hatch is a global, employee-owned professional services firm with more than 10,000 professionals across 150 countries. For more than six decades, Hatch has partnered with clients in the metals, energy, and infrastructure sectors to solve some of the world’s toughest challenges through engineering, project delivery, operational improvement, and innovation. In mining, Hatch works with leading operators globally to improve safety, productivity, sustainability, and operational performance, while helping accelerate the adoption of next-generation technologies across the industry. Learn more at hatch.com.
About LoopX
Founded in 2022, LoopX is a Physical AI company building all-condition intelligence for mining. Our platform brings machine intelligence to uncontrolled environments, enabling reliable perception and decision-making in the world’s harshest operating conditions. Based in Toronto and Sudbury, Ontario, LoopX partners with leading mining operators and contractors worldwide to deploy and continuously improve its AI systems that learn from real-world operations, accelerating the transition to safer, smarter, and more productive mining. Contact us.
Media Contact
Chao Yu
PhD Founder & CEO
LoopX Innovation Inc.
chao.yu@loopx.ai
