About Innovation Mining
Innovation Mining is an Environment company based in North Vancouver (Canada) founded in 2012 by Duane Nelson. It operates as a near-term gold production from advanced near-surface resources is targeted. It operates in the Environment and Natural Resources sectors. Innovation Mining has raised $425.27 thousand across 3 funding rounds. The company has 49 employees. Its chief executive is Duane Nelson. Its Indian entity Ing Vysya Bank Limited reported revenue of ₹2,262 Cr. Innovation Mining offers products and services including RZOLV. Its focus areas include Enterprise Applications, Mining Tech, Mineral Recovery from Mining Waste and Mining. Its competitors include Binding Solutions, Phoenix Tailings, GreenIron, Ultromex and BacTech Environmental and 5 more; 4 of its 10 listed competitors have raised funding.
Company details
Innovation Mining was founded in 2012 in North Vancouver, Canada, within the gold mining sector. Operations center on eco-friendly extraction from near-surface deposits to enable prompt production. Advanced technologies are employed to support sustainable practices, with emphasis placed on environmental compliance across development stages.
- Headquarters North Vancouver, Canada
- Employees 49
- Founders Duane Nelson
- SectorsEnvironmentNatural Resources
- Email••••••••
- Website innovationmining.com
- Social LinkedIn Instagram
- Legal Name Ing Vysya Bank Limited
- Date of Incorporation 29 Mar, 1930
- Jurisdiction Bangalore, Karnataka, India
- Annual Revenue₹2,262 Cr
FY 2024 · 0% YoY
- Total Equity Funding$425.27K (USD)
in 3 rounds
- Latest Funding Round$276.75K (USD), Seed
May 2025
- Employee Count49
Associated legal entities of Innovation Mining
Innovation Mining operates through Ing Vysya Bank Limited, a listed company (amalgamated). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2024) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Ing Vysya Bank Limited Listed CIN L85110KA1930PLC000124 | Amalgamated | 29 Mar 1930 | Bangalore, Karnataka | ₹2,262 Cr | – | 11 | View details |
Products & Services of Innovation Mining
Innovation Mining offers a comprehensive portfolio of products and services, including RZOLV.
Water-based alternative to cyanide for safe, efficient gold recovery.
Funding Insights of Innovation Mining
Innovation Mining has successfully raised a total of $425.27K across 3 strategic funding rounds. The most recent funding activity was a Seed round of $276.75 thousand completed in May 2025. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $425,268
- Total Rounds 3
- Last Round Seed — $276,754
- First Round $25,025
(Nov 2024)
All 3 funding rounds of Innovation Mining with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May 2025 | $276,754 | Seed | – | – | – |
| Apr 2025 | $123,489 | Seed | – | – | – |
| Nov 2024 | $25,025 | Seed | – | – | – |
Board of directors of Ing Vysya Bank Limited (Innovation Mining)
Ing Vysya Bank Limited is the primary company behind Innovation Mining. The board of Ing Vysya Bank Limited currently have 11 directors; the longest-serving is Maddali Venkata Satya Apparao, appointed in 2007. 15 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Maddali Venkata Satya Apparao DIN 00484877 | Company Secretary | 27 Jul 2007 | 19 yrs 2 mo | Ing Vysya Bank Limited |
| Santosh Desai DIN 01237902 | Director | 29 Apr 2008 | 18 yrs 5 mo | Ing Vysya Bank Limited |
| Meleveetil Damodaran DIN 02106990 | Director | 21 Jul 2008 | 18 yrs 2 mo | Ing Vysya Bank Limited |
| Vaughn Nigel Richtor DIN 00698356 | Director | 01 Jun 2009 | 17 yrs 4 mo | Ing Vysya Bank Limited |
| Vikram Talwar DIN 00416236 | Director | 20 Dec 2010 | 15 yrs 10 mo | Ing Vysya Bank Limited |
| Mark Edwin Newman DIN 03518417 | Director | 20 Apr 2011 | 15 yrs 6 mo | Ing Vysya Bank Limited |
| Jayant Mehrotra DIN 07681406 | CFO | 29 Apr 2014 | 12 yrs 5 mo | Ing Vysya Bank Limited |
| Alka Marezban Bharucha DIN 00114067 | Additional Director | 25 Jun 2014 | 12 yrs 3 mo | Ing Vysya Bank Limited |
| Adrianus Johannes Antonius Kas DIN 06853983 | Additional Director | 25 Jun 2014 | 12 yrs 3 mo | Ing Vysya Bank Limited |
| Kewal Kundanlal Handa DIN 00056826 | Additional Director | 12 Aug 2014 | 12 yrs 2 mo | Ing Vysya Bank Limited |
| David Han Lee Yong DIN 07015440 | Additional Director | 10 Nov 2014 | 11 yrs 11 mo | Ing Vysya Bank Limited |
People of Innovation Mining
1 people are tracked at Innovation Mining (1 in leadership); the tracked headcount is 49.
| Name | Role | Group |
|---|---|---|
Duane Nelson | Founder & CEO | Leadership |
Complete people profiles for Innovation Mining
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Financials of Innovation Mining
Figures of Ing Vysya Bank Limited, the primary company behind Innovation Mining, for FY 2024. Revenue was ₹2,262 Cr (0% year on year). Revenue has grown at a compounded annual rate of +7% over three years and +4% over five years.
- ₹2,262 CrRevenue · FY 2024 · 0% YoY
- ₹192 CrPaid-up capital
- +7%Revenue CAGR, 3 years
- +4%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Ing Vysya Bank Limited are on its company page.
Detailed financial statements for Innovation Mining
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Timeline of Innovation Mining
3 dated milestones of Innovation Mining across 13 years, from founding to its latest funding, stage changes and deals.
- Founded Innovation Mining is founded.
- Funding First funding round of $25K.
- Funding Latest funding round, Seed, of $277K.
Competitors of Innovation Mining
Innovation Mining has 10 listed competitors in our database, 4 of them funded. They include Binding Solutions, Phoenix Tailings, GreenIron, Ultromex and BacTech Environmental, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| bindingsolutions.uk | 2016 | Middlesbrough, United Kingdom | $26.79M | 16 | Technology for recovering metals from mining waste is provided. | |
| phoenixtailings.com | 2019 | Woburn, United States | $88.47M | – | Mining waste is processed to recover minerals and metals. | |
| greeniron.se | 2018 | Stockholm, Sweden | $5.51M | – | Provider of CO2-free metal production using recycled materials | |
| ultromex.com | 2011 | Birkenhead, United Kingdom | $794,000 | 18 | Innovate UK grant and loan support is provided to businesses. | |
| bactechgreen.com | 2010 | Toronto, Canada | – | 49 | Toxic mining waste is treated using bioleaching technology solutions. | |
| envirometal.com | 2016 | Burnaby, Canada | – | – | Precious metals are recovered using non-cyanide technology solutions. | |
| cvwcleantech.com | 2003 | Calgary, Canada | – | – | Royalty financing is provided to clean technology businesses for decarbonization. | |
| laintech.com | 2006 | Madrid, Spain | – | – | Electrochemical solutions for extracting metals from sulphide concentrates are developed. | |
| r-cycle.fi | 2019 | Hyvinkaa, Finland | – | – | Provider of recovery solutions that enable the extraction of valuable metals from waste materials | |
| easymining.com | 2007 | Uppsala, Sweden | – | – | Tools for mineral recovery from mining waste are provided. |
Detailed competitors of Innovation Mining
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Top companies in Waste & Water Management Systems
10 companies that operate in the same segment as Innovation Mining (Waste & Water Management Systems), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Wastewater and energy management services are provided internationally. | 1853 | Aubervilliers, Seine-saint-denis, France | – | USD 52.17 B | 215,040 | |
Sustainable infrastructure solutions in renewable energy are developed and managed. | 1931 | Alcobendas, Comunidad De Madrid, Spain | – | USD 1.9 M | 44 | |
Provider of climate-smart deeptech solutions for renewable energy and sustainable agriculture | 2010 | Pune, Maharashtra, India | USD 76.38 M | USD 56.11 M | 702 | |
Waste collection and management services are provided nationwide. | 1968 | Houston, Texas, United States | – | USD 25.2 B | 61,700 | |
Integrated waste management services are provided nationwide. | 1998 | Phoenix, Arizona, United States | – | USD 16.59 B | 42,000 | |
Provider of smart water purifier rental and maintenance services | 2016 | Bengaluru, Karnataka, India | USD 19.29 M | USD 3.62 M | – | |
Sensor-based sorting and recycling solutions are provided for multiple industries. | 1972 | Asker, Viken, Norway | – | USD 1.53 B | 4,950 | |
Smart water dispensers with flavored options are provided for offices. | 2013 | Boston, Massachusetts, United States | USD 135.53 M | – | 102 | |
Surplus goods are shared among neighbors through a mobile app. | 2015 | London, England, United Kingdom | USD 51.2 M | – | – | |
Water and waste treatment services are provided worldwide. | 1966 | London, England, United Kingdom | – | USD 4.18 B | 9,750 |
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Frequently Asked Questions about Innovation Mining
Innovation Mining was founded in 2012 and raised its 1st funding round 12 years after it was founded.
Innovation Mining is headquartered in North Vancouver, Canada. It is registered at North Vancouver, British Columbia, Canada.
Duane Nelson is the current CEO of Innovation Mining. They have also founded this company.
Innovation Mining is a funded company, having raised a total of $425.27K across 3 funding rounds to date. The company's 1st funding round was a Seed of $25.03K, raised on Nov 2024.
Innovation Mining has 49 employees.
The primary company behind Innovation Mining, Ing Vysya Bank Limited, reported revenue of ₹2,262 Cr for FY 2024, down 0% year on year.
Innovation Mining was founded in 2012 in North Vancouver, Canada, within the gold mining sector. Operations center on eco-friendly extraction from near-surface deposits to enable prompt production. Advanced technologies are employed to support sustainable practices, with emphasis placed on environmental compliance across development stages.
Innovation Mining's top competitors include Phoenix Tailings, Binding Solutions and GreenIron.
Innovation Mining offers RZOLV.
Innovation Mining operates through Ing Vysya Bank Limited.
The legal entities of Innovation Mining currently have 11 directors, including Mark Edwin Newman, Vikram Talwar, Vaughn Nigel Richtor and others.