LoopX Raises $4.05M Seed for Underground Mining AI
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LoopX Innovation Inc. closed a $4.05 million seed round on August 4, 2026, led by BDC Seed Venture Fund and Orion Industrial Ventures with participation from Hatch.
The company describes itself as a physical AI business, and the environment it has chosen is about as unforgiving as they come. Underground mining sites are dark, dusty and unmapped in the way a warehouse floor never is, which breaks most perception systems built for controlled settings.
LoopX runs what it calls an All-Condition Intelligence platform, combining thermal vision AI, edge computing and its own models to support safety and operational applications in those conditions. It works with mining operators and contractors internationally, and its systems continue learning from live operations after deployment.
Founded in 2022 and led by chief executive Chao Yu, the company operates out of Toronto and Sudbury, Ontario.
Proceeds will go toward hiring across applied AI engineering, customer success and go to market.