Mariana Minerals Valuation, Funding & Investors

Mariana Minerals is valued at $1.5B as of August 2026.

Last Mariana Minerals valuation

$1.5B

Series B · Aug 2026

Last Mariana Minerals funding round

$310M

Series B · Aug 2026

Cumulative funding Mariana Minerals raised

$310M

across 1 funding round

Key investors in Mariana Minerals

Mariana Minerals Overview

About Mariana Minerals

Mariana Minerals is a minerals company that integrates mining operations with software systems to advance exploration and extraction of lithium, copper, nickel, and related resources.


Founded

2022

HQ

United StatesHouston, TX

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$1.5B (Aug 2026)

Mariana Minerals Valuation

Mariana Minerals is currently valued at $1.5B, based on its Series B in August 2026.

The $310M round was led by Khosla Ventures, with participation from Pax Ventures, Greenoaks, StepStone Group, Washington Harbour Partners, Greycroft and 6 other investors.

Mariana Minerals valuation by funding round

Mariana Minerals valuation by funding round
DateStageValuation
Aug 2026Series B$1.5B

Mariana Minerals Funding History

Mariana Minerals has raised a total of $310M across 1 funding round.

Mariana Minerals funding rounds

Mariana Minerals funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Aug 2026Series BKhosla Ventures (lead); Pax Ventures; Greenoaks; StepStone Group; Washington Harbour Partners; Greycroft; Andreessen Horowitz; Earthshot Ventures; BHP Ventures; The Halo Fund; General Innovation Capital; IQT$310M$1.5BMariana Minerals raised $310 million in a Series B financing led by Khosla Ventures, with continued participation from Andreessen Horowitz and Breakthrough Energy Ventures and new backing from Greenoaks, Halo Fund, Pax Ventures, StepStone Group, BHP Ventures, Washington Harbour Partners, Greycroft, General Innovation Capital Partners, Mitsubishi Corporation, In-Q-Tel, and Earthshot Ventures. The round values the company at $1.5 billion and brings total parent and project capital raised to approximately $400 million; the transaction was structured as convertible preferred stock. The financing supports expansion of Mariana’s portfolio of critical minerals projects and further deployment of its MarianaOS software platform. Mariana positions itself as a software-first, vertically integrated critical minerals company focused on using automation and software to modernize mining and accelerate production for materials such as copper and lithium. The company’s capital base includes funding allocated to its operated mines, including Copper One in Utah and Lithium One in Texas. Mariana is based in San Francisco and has previously raised $85 million in its Series A, led by Andreessen Horowitz with support from Breakthrough Energy Ventures and Khosla Ventures. The company describes its model as end-to-end and vertically integrated, combining software with mine operations to scale critical minerals production.

Who has invested in Mariana Minerals?

12 investors have backed Mariana Minerals across its funding rounds, including Andreessen Horowitz, Khosla Ventures, Greycroft, IQT, Greenoaks and StepStone Group.

Lead investors include Khosla Ventures.


Mariana Minerals Investors

Investors in Mariana Minerals by funding rounds participated
InvestorHQRoundsRoleFirst check
Pax VenturesUnited StatesSan Francisco, CA1ParticipantAug 2026
GreenoaksUnited StatesSan Francisco, CA1ParticipantAug 2026
StepStone GroupUnited StatesNew York City, NY1ParticipantAug 2026
Washington Harbour PartnersUnited StatesUnited States1ParticipantAug 2026
GreycroftUnited StatesNew York City, NY1ParticipantAug 2026
Khosla VenturesUnited StatesSan Francisco, CA1LeadAug 2026
Andreessen HorowitzUnited StatesSan Francisco, CA1ParticipantAug 2026
Earthshot VenturesUnited StatesSan Francisco, CA1ParticipantAug 2026
BHP VenturesAustraliaMelbourne1ParticipantAug 2026
The Halo FundUnited StatesSan Francisco, CA1ParticipantAug 2026

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Mariana Minerals Competitors

Mariana Minerals competitors include listed companies like Ivanhoe Electric, Minerals 260, Eacon Group and Duro Dakovic Grupa, and private ones like GermanSubCo and Electra.

Public and private companies comparable to Mariana Minerals
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Ivanhoe ElectricUnited StatesUnited StatesPublicly listed$3M($118M)$1.5B394.6x
Minerals 260AustraliaAustraliaPublicly listed-($25M)$1.5B-
Eacon GroupChinaChinaPublicly listed$214M($33M)$1.5B-
Duro Dakovic GrupaCroatiaCroatiaPublicly listed$143M$15M$1.5B-
GermanSubCoGermanyGermanyPrivate--$1.3B-
ElectraUnited StatesBoulder, COPrivate--$1.2B-

Mariana Minerals Public Comps

Mariana Minerals is still privately-owned, but its public comps include Ivanhoe Electric, Minerals 260, Eacon Group, Duro Dakovic Grupa, Elemental Royalty, i-80 Gold, Eramet, Molymet, Companhia Brasileira de Aluminio and Bharat Coking Coal.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Ivanhoe Electric$3M($118M)401.4x394.6x(11.0x)(174.5x)
Minerals 260-($25M)--(60.7x)(68.6x)
Eacon Group$214M($33M)7.8x-(50.0x)-
Duro Dakovic Grupa$143M$15M10.4x-99.2x-
Elemental Royalty$44M$22M33.4x19.4x65.2x24.7x
i-80 Gold$95M($175M)16.1x9.1x(8.8x)(17.9x)
Eramet$3.2B($118M)1.5x1.3x(40.1x)9.2x
Molymet$2.5B$185M0.8x-10.7x-

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Common questions about Mariana Minerals

When was Mariana Minerals founded?Mariana Minerals was founded in 2022.
Where is Mariana Minerals headquartered?Mariana Minerals is headquartered in Houston, TX, United States.
Is Mariana Minerals publicly listed?No, Mariana Minerals is a private, VC-backed company.
What is Mariana Minerals' valuation?Mariana Minerals was last valued at $1.5B in its Series B in August 2026.
How much funding has Mariana Minerals raised?Mariana Minerals has raised $310M across 1 funding round.
What was Mariana Minerals' last funding round?Mariana Minerals' last funding round was a $310M Series B in August 2026, led by Khosla Ventures.
Who are Mariana Minerals' investors?Mariana Minerals' investors include Pax Ventures, Greenoaks, StepStone Group, Washington Harbour Partners, Greycroft, Khosla Ventures, Andreessen Horowitz, Earthshot Ventures, BHP Ventures, The Halo Fund and 2 others.
Which companies are comparable to Mariana Minerals?Companies comparable to Mariana Minerals include Ivanhoe Electric, Minerals 260, Eacon Group, Duro Dakovic Grupa, GermanSubCo and Electra.

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