To power AI, Khosla and a16z bet this startup can reinvent mining

Turner Caldwell, CEO and cofounder of Mariana Minerals, a software-focused mining startup, believes that the next century will be fueled by metals. Mariana aims to reinvent the mining industry by building a software backbone that can efficiently extract and process various metals crucial to the modern economy. These metals include lithium, copper, aluminum, magnesium, nickel, cobalt, manganese, uranium, and rare earths.

The startup's goal is to reduce the cost of these essential inputs, enabling downstream industries like artificial intelligence (AI) to thrive. Mariana, founded in 2024 by Caldwell, Baker Tilney, and Juan Lozano, has secured a $310 million Series B funding round led by Khosla Ventures, with participation from Andreessen Horowitz and several other investors.

The company has raised a total of $400 million and is valued at $1.5 billion. Mariana's first mines, Copper One in Utah and Lithium One in Texas, are powered by autonomous software and aim to increase production of core metals. With AI driving up demand for critical minerals, Mariana believes it has an opportunity to create an efficient, software-based mining operation that could reshape the global supply chain.