Khosla Leads $310M Series B for Mariana Minerals

August 10, 2026

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Mariana Minerals has closed a $310 million Series B led by Khosla Ventures. The round values the company at $1.5 billion and brings its total raised to $400 million.

The investor list runs across venture capital and industry. a16z, Breakthrough Energy Ventures and Greenoaks took part, as did BHP Ventures and Mitsubishi Corporation, two backers with direct experience of the sector the company operates in.

Mariana works on critical minerals production, applying AI across its mining operations rather than at a single stage of the process. It runs two flagship projects: Copper One in southeastern Utah and Lithium One in East Texas. The company is based in Houston.

Turner Caldwell founded the company in 2024, which makes the pace of the raise notable on its own. The financing funds continued buildout across the active project portfolio.

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