MineSense Technologies Ltd says it has closed a $42 million Series E financing led by J.P. Morgan Asset Management’s Sustainable Growth Equity team that, it says, will allow it to accelerate the commercial deployment of its solutions to drive further growth and profitability.

The funding round includes participation from new investor Evok Innovations, a climate technology and sustainability venture fund, and existing investors including Prelude Ventures, BDC Industrial Innovation Venture Fund, Cycle Capital and Chrysalix Venture Capital.

MineSense has been pioneering data-driven solutions that improve ore grade control, operational profitability and carbon intensity across the metals mining industry. It is doing this through a combination of its ShovelSense® and BeltSense® hardware, a digital platform and geoscientific insight that goes beyond purely grade-based orebody information.