Beholder raised €862,1K

US and Estonia-based Beholder has raised €862,1K in funding. The round was led by a European accelerator and fund EIT InnoEnergy. Amsterdam-based VC and accelerator Rockstart and Hungarian VC STRT Holding Nyrt also participated in the round.

Founded in Delaware in 2021 by Daniil Lubkin, Serhii Lubkin, and Andrey Sevryukov, Beholder is developing an AI-based platform for the exploration of metals, minerals, and energy resources. The startup uses geophysics, remote sensing (gathering information without physical contact), and geological data to predict the location of mineral formations. Beholder provides radar images of the area being explored, allowing geologists to see, for example, ancient riverbeds and reveal details that other tools cannot.

Beholder's technology helps reduce the size of exploration work and decrease exploration risks by providing valid and accurate predictions. The collected data by Beholder allows geologists to hold initial studies of the site to explore if it is prospective for extracting mineral resources. 

The startup will use the investment to scale its solution, expand into foreign markets, and develop two product versions for B2C and B2B. In 2024, Beholder plans to increase the company's capitalization to $20-30M and sign contracts with 20 new customers.