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- Jetti Resources
Jetti Resources Valuation, Funding & Investors
Jetti Resources is valued at $2.5B as of October 2022.
Last Jetti Resources valuation
$2.5B
Series D · Oct 2022
Last Jetti Resources funding round
$100M
Series D · Oct 2022
Cumulative funding Jetti Resources raised
$169M
across 3 funding rounds
Key investors in Jetti Resources
T. Rowe Price
Mitsubishi
DNS Capital
BHP Ventures
Freeport-McMoRan
Kleiner Perkins
About Jetti Resources
Jetti Resources is a Denver-headquartered mining technology company founded in 2014 that deploys catalytic hydrometallurgy to leach copper from chalcopyrite ores previously deemed uneconomic. Its process boosts recovery rates to 85% at sites like Kennecott and increases output by 30% without new infrastructure. Backed by $60 million from Newmont and Mitsubishi, Jetti treats 100 million tons annually across North and South America.
Founded
2014
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Licensing
Valuation
$2.5B (Oct 2022)
Jetti Resources Valuation
Jetti Resources is currently valued at $2.5B, based on its Series D in October 2022. Read the announcement ↗
The $100M round was led by T. Rowe Price, with participation from DNS Capital, Mitsubishi, Freeport-McMoRan, BHP Ventures, Rothschild & Co. and 1 other investor.
Jetti Resources valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Oct 2022 | Series D | $2.5B |
Jetti Resources Funding History
Jetti Resources has raised a total of $169M across 3 funding rounds.
Jetti Resources' first fundraising round was a $19M Series A in September 2017. The most recent completed round was a $100M Series D in October 2022.
Jetti Resources funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Oct 2022 | Series D | T. Rowe Price (lead); DNS Capital; Mitsubishi; Freeport-McMoRan; BHP Ventures; Rothschild & Co.; Teck Resources | $100M | $2.5B | Jetti Resources is a copper mining technology company founded in 2014 by Andrew Perlman and Mike Outwin, headquartered in Colorado, United States. It develops a catalyst technology that enables extraction of copper from low-grade primary sulfide ores like chalcopyrite, the world's most abundant copper mineral, by disrupting the sulfur-metal bond and unlocking trillions in trapped resources. The company operates a commercial plant at a Capstone Copper mine in Arizona and plans expansion with other major miners. In October 2022, Jetti Resources raised $100 million in a Series D funding round led by T. Rowe Price Associates, with participation from existing investors BHP Group (via BHP Ventures), Freeport-McMoRan, Mitsubishi Corporation, and Teck Resources, plus new investor Rothschild & Co. The round valued the company at a post-money valuation of $2.5 billion. Proceeds are intended to meet growing demand for the technology from major copper mining companies and support deployment at new sites. Jetti's innovation addresses a critical gap in copper production, as traditional methods struggle with low-grade sulfides below 1% metal content. CEO Mike Outwin highlighted the financing's role in scaling operations amid rising interest from the industry. |
| Jun 2021 | Series C | Mitsubishi (lead); T. Rowe Price; Freeport-McMoRan; BHP Ventures; Orion Resource Partners | $50M | - | Jetti Resources, a US-based copper heap-leaching technology company, secured $50 million in a Series C venture financing in June 2021, one of the larger venture deals in the mining sector that year. Investors named on the round include BHP Ventures, Orion Resource Partners, Freeport-McMoRan, Mitsubishi and T. Rowe Price. Jetti develops catalyst technology that raises copper recovery from low-grade sulphide ores through heap leaching, and the proceeds fund commercial deployments with mining majors. BHP has continued to test Jetti's early-stage leaching technology as part of its copper leaching studies. Jetti later raised a $100 million Series D in October 2022. |
| Sep 2017 | Series A | KittyHawk (lead); DNS Capital; Kleiner Perkins; Zoma Capital | $19M | - | Jetti Resources is a Vancouver-based natural resources technology company founded in 2014 that develops hydrometallurgical technology to extract valuable metals, particularly copper, from low-grade primary sulfide ores like chalcopyrite using a novel catalyst that integrates with existing heap leaching methods. Jetti's technology targets the abundant but challenging low-grade copper resources, enabling recovery of trapped value worth trillions, and by 2022 operated a commercial plant at a Capstone Copper mine in Arizona with plans for broader deployment. The company closed a $24 million Series A financing round in October 2017, speculated to include investors such as Silicon Valley's Kleiner Perkins Caufield & Byers and DNS Capital, though investors were not publicly disclosed at the time. Prior to this, Jetti had received approximately $300,000 from the BC Innovation Council Ignite Program in 2016. Later funding included a Series D round of $100 million in October 2022 led by T. Rowe Price with participants like BHP, Freeport-McMoRan, Teck Resources, Mitsubishi Corp., Rothschild & Co., and existing investors including DNS Capital, at a $2.5 billion valuation. Total funding across rounds reached $169.3 million by 2022. |
Who has invested in Jetti Resources?
11 investors have backed Jetti Resources across its funding rounds, including T. Rowe Price, Mitsubishi, DNS Capital, BHP Ventures, Freeport-McMoRan and Kleiner Perkins.
Lead investors include T. Rowe Price, Mitsubishi and KittyHawk.
Jetti Resources Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Sep 2017 | ||
| 2 | Lead | Jun 2021 | ||
| 2 | Lead | Jun 2021 | ||
| 2 | Participant | Jun 2021 | ||
| 2 | Participant | Jun 2021 | ||
| 1 | Participant | Sep 2017 | ||
| 1 | Participant | Sep 2017 | ||
| 1 | Participant | Oct 2022 | ||
| 1 | Participant | Oct 2022 | ||
This data is available for Pro users. Sign up to see all 11 Jetti Resources investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialJetti Resources Competitors
Jetti Resources competitors include listed companies like Xinyi Solar, NLC India and SolarEdge, and private ones like Electra, Pivot Bio and Solugen.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.2B | - | ||
| Publicly listed | $3.1B | $548M | $2.2B | 1.6x | ||
| Private | - | - | $2B | - | ||
| Private | $12M | - | $2B | - | ||
| Publicly listed | $1.8B | $737M | $3.3B | 3.1x | ||
| Publicly listed | $1.2B | ($365M) | $1.8B | 1.3x |
Jetti Resources Public Comps
Jetti Resources is still privately-owned, but its public comps include Almonty Industries, Hyundai Steel, Novagold Resources, Compania Minera Poderosa, Metalúrgica Gerdau, Seabridge Gold, Fortuna Mining, Allied Gold, Outokumpu and Hainan Mining Co.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $23M | ($113M) | 95.5x | - | (19.7x) | - | |||
| $17B | $1.5B | 0.5x | 0.5x | 6.1x | 6.0x | |||
| - | ($85M) | - | - | (28.0x) | (28.1x) | |||
| $978M | $413M | 2.6x | - | 6.1x | - | |||
| $13B | $1.3B | 0.8x | 34.3x | 8.3x | 34.3x | |||
| - | ($49M) | - | - | (59.6x) | 115.6x | |||
| $947M | $603M | 2.4x | 1.8x | 3.8x | 2.9x | |||
| $730M | $54M | 3.8x | 1.6x | 50.4x | 4.4x | |||
This data is available for Pro users. Sign up to see all Jetti Resources competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Jetti Resources
| When was Jetti Resources founded? | Jetti Resources was founded in 2014. |
| Where is Jetti Resources headquartered? | Jetti Resources is headquartered in Boulder, CO, United States. |
| Is Jetti Resources publicly listed? | No, Jetti Resources is a private, VC-backed company. |
| What is Jetti Resources' valuation? | Jetti Resources was last valued at $2.5B in its Series D in October 2022. |
| How much funding has Jetti Resources raised? | Jetti Resources has raised $169M across 3 funding rounds. |
| What was Jetti Resources' last funding round? | Jetti Resources' last funding round was a $100M Series D in October 2022, led by T. Rowe Price. |
| Who are Jetti Resources' investors? | Jetti Resources' investors include DNS Capital, T. Rowe Price, Mitsubishi, Freeport-McMoRan, BHP Ventures, Kleiner Perkins, Zoma Capital, Rothschild & Co., Teck Resources, KittyHawk and 1 other. |
| Which companies are comparable to Jetti Resources? | Companies comparable to Jetti Resources include Electra, Xinyi Solar, Pivot Bio, Solugen, NLC India and SolarEdge. |
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