Tribe Technology Group Ltd, a market-leading developer and manufacturer of autonomous drill rig and sampling technology, recently announced that the company has completed a successful £2 million (US$2.5 million) fundraise with a number of prominent technology investment firms. 

The statement said the private company’s advanced technology and intellectual property, coupled with a diverse product portfolio and commercial pipeline “make Tribe Tech an exciting investment opportunity, as evidenced by the calibre of these new investors and the quantum of funds raised.”

Charlie King, Managing Director of Tribe Tech, commented: “As we near completion of our first unmanned Reverse Circulation drill rig for delivery later this year, Tribe Tech continues to be at the forefront of this vital part of the minerals and metals industry as the world looks for new supply of key metals. Our technology provides a solution at a time when efficiency and safety are as important as the need to bring much larger amounts of commodities into a rapidly changing world.”

He adds: “We are proud of the progress we have achieved thus far and look forward to advancing our commercial pipeline delivering Tribe Tech’s sector-leading rigs to our strategic partners around the globe.”