Hades Mining has completed a seed round of 15 million euros. HV Capital and Headline lead the financing. Project A and Visionaries Tomorrow are participating again, with additional support from Founders Factory, Viessmann Generations Group, Interface Capital, and Founder Lake. The round follows less than six months after the pre-seed financing of 5.5 million euros.
According to its own statements, the Munich startup is building Europe’s first technology-driven mining and energy platform. At its core is a proprietary laser drilling system. This is intended to make drilling significantly more cost-effective, faster, and environmentally friendly. Drilling is considered the largest cost factor, especially in mining and geothermal energy.
Founder and CEO Max Werner explains in an interview that Europe today imports almost all critical raw materials from unsafe regions of the world and at the same time is heavily dependent on fossil energy sources. According to Werner, classical drilling methods reach their limits particularly in Europe’s complex geology. Hades Mining rethinks the entire process and develops technologies that are specifically tailored to these conditions. With this, the company wants to develop deposits and energy sources that were previously simply unreachable or economically unfeasible.
“If you fundamentally change the cost and speed of drilling, you change the economic equation of extraction as a whole. That’s exactly what Europe needs right now: a leap in performance, not incremental improvements”,
HV Capital quoted Max Werner in a LinkedIn post.
Growth boost in Munich
Christian Miele from Headline also emphasizes on LinkedIn:
“Hades is exactly the kind of high-tech industrial company Europe currently needs – focused on sovereignty, resilience, and scalability.”
With the fresh capital, the startup plans to further develop the laser drilling system, launch large-scale mining and energy projects, and triple its team in Munich. By 2029, Hades Mining wants to sell critical raw materials mined in Europe.
