According to Fortune, software-driven mining startup Mariana Minerals has completed a $310 million Series B round led by Khosla Ventures, with participation from Andreessen Horowitz (a16z), Breakthrough Energy Ventures, Greenoaks, BHP Ventures, and Mitsubishi Corporation. This brings the company’s total funding to $400 million and its valuation to $1.5 billion. Mariana, co-founded in 2024 by Turner Caldwell, a former member of Tesla’s factory design and construction team and headquartered in San Francisco, aims to transform traditional mining through software technology. The company currently operates two mines: Copper One in Utah, a copper mine targeting annual production of 50,000 tons of refined copper, and Lithium One in Texas, expected to begin commercial production in 2027.
Mariana Minerals Completes a $310M Series B Round Led by Khosla Ventures
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Summary
Mariana Minerals announced a $310 million Series B round led by Khosla Ventures, marking a significant milestone in project funding. Andreessen Horowitz, Breakthrough Energy Ventures, and others also participated. The round values the company at $15 billion, bringing total funding to $400 million. Founded in 2024 by Turner Caldwell, Mariana uses software to modernize mining operations. The company operates two mines—Copper One in Utah and Lithium One in Texas—with production targeted for 2027. A soft fork update to its operational platform is expected to support scaling efforts.
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