San Diego-based Sensemetrics Inc. has entered the underground mining market with a sensor platform and a partnership with Yieldpoint Inc., a geotechnical monitoring instrumentation company.
Sensemetrics’ industrial internet-of-things platform connects a wide variety of sensors and aggregates the data for energy, mining and construction companies.
Yieldpoint’s d-Tech line of digital sensors has been integrated with the Sensemetrics cloud platform to enable underground mine operators to quickly respond to changing conditions, accurately predict and prevent risk, and several other benefits, according to the company.
“The d-Tech platform embeds a microcomputer in every instrument, thereby creating truly smart geotechnical and structural instruments. Combining these smart sensors with the Sensemetrics cloud-based platform results in one of today’s most innovative approaches to underground mining instrumentation,” said Cory Baldwin, president of Sensemetrics, in a news release.
Initially the two companies will target mineral and metal mines in the Americas and Australasian regions.
The new agreement calls for the two companies to co-develop products for an initial period of three years. After that, the agreement will automatically renew, according to the news release.
To date, Sensemetrics total investment is above $10 million. Local firm Mooring Ventures and Irvine-based Three Curve Capital both previously invested in the company, and participated in its most recent round.
“We are excited to see how we will be able to transform operational performance and deliver step-change productivity improvements across the entire mine lifecycle,” said Baldwin.