Software-driven mining startup Mariana Minerals has closed a $310 million Series B round, according to Fortune, with Khosla Ventures leading the financing and Andreessen Horowitz (a16z), Breakthrough Energy Ventures, Greenoaks, BHP Ventures, and Mitsubishi Corp. also participating. The deal brings the company’s total funding to $400 million and values Mariana at $1.5 billion.
Mariana was co-founded in 2024 by Turner Caldwell, a former member of Tesla’s factory design and construction team, and is based in San Francisco. The company says it is working to remake traditional mining through software.
It currently operates two mining assets: Copper One in Utah, a copper mine targeting annual refined copper output of 50,000 tons, and Lithium One in Texas, a lithium mine expected to begin commercial production in 2027. The financing adds to investor backing from both venture capital firms and industrial groups as Mariana expands its operating footprint.
Software-driven mining startup Mariana Minerals has raised $310 million in a Series B round, according to Fortune. Khosla Ventures led the financing, with participation from Andreessen Horowitz (a16z), Breakthrough Energy Ventures, Greenoaks, BHP Ventures, and Mitsubishi Corp., among others.
After the round, Mariana’s total funding stands at $400 million, and the company is valued at $1.5 billion.
Founded in 2024 and based in San Francisco
Mariana was co-founded in 2024 by Turner Caldwell, a former member of Tesla’s factory design and construction team. The company is headquartered in San Francisco and is focused on reshaping the traditional mining industry through software.
Two mines are currently in operation
Mariana currently operates two mines: Copper One in Utah and Lithium One in Texas.
- Copper One is a copper mine targeting annual refined copper output of 50,000 tons.
- Lithium One is a lithium project expected to enter commercial production in 2027.
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