New digital platform that dramatically enhances raw materials supply chain visibility through satellites, open data and AI
The Finnish start-up company Rovjok, supported by EIT RawMaterials, combines and interprets operational and financial data across the entire value chain, giving the context needed to perform advanced business and operational analytics; in near real-time.
The company’s innovative solution provides a unified view across the raw materials value chain, from geological origin to final product. Within the digital value chain, it is easy to simulate different operating scenarios, e.g. establish the business impacts from now to the end of mine life. The tool is powerful but as simple as adjusting a dial. This translates to a faster and more informed business decision.
Having worked in the raw materials industries in various roles and directives, we have seen a clear unmet need to bridge the gap between macro and micro intelligence for the metal and mining value chain. We truly believe that our roadmap will enable efficiency, transparency and further innovation for what is a cornerstone of industry and livelihood within Europe and globally.
Scott Thomsett, Managing Director at Rovjok
60% increase in revenues year-on-year
Rovjok has managed to grow its business significantly, with revenues scaling at a 63% average increase year on year, the significant portion being export-driven. Furthermore, the company has been profitable since inception.
One of the highlights for us last year was that we helped keep more than 4000+ mine site workers and 200kt annual Copper production safe during COVID-19 with our analytics and mobile solutions.
Scott Thomsett, Managing Director at Rovjok
Rovjok had a busy year in 2020, with the team headcount growing by 40%. They expanded into North America, assisting customers utilise cycle time analytics for complex logistics optimisations. They were also a finalist in the Artisanal Scale Mining (ASM) Grand Challenge, applying advanced image machine learning techniques to illuminate artisanal mining activity from satellite imagery – a technology that continues to be a focus.
We have an incredibly diverse and talented team covering many different but complimentary areas of expertise in both the mining industry and downstream raw material supply chains. We have a deep understanding of the diverse impacts of mining, mineral processing and metal supply chain functions.
Scott Thomsett, Managing Director at Rovjok
The EIT RawMaterials network has opened doors for Rovjok with respect to the work the company is doing in Earth Observation, AI/ML and Mineral Process optimisation. This has enabled Rovjok to hire and grow. In the last 12 months, Rovjok have welcomed six diversely talented new team members including five PhDs . The team possess deep mining-metals-industry experience, in combination with world-class technical and scientific skills (spanning finance, supply chain, geology engineering, metallurgy & mineral processing, AI, software development, and even astrophysics).
Currently, we are providing optimisation solutions for some of the largest mining operations in the world, and specifically, we are debottlenecking a significant Copper supply chain through an advanced Mine-to-Mill solution that builds upon established engineering-centric approaches with AI and Machine Learning.
Scott Thomsett, Managing Director at Rovjok
EIT RawMaterials is key to success
Rovjok has been involved with EIT RawMaterials through their work with clients in both the mining and downstream space. The start-up has participated in the EIT RawMaterials Booster programme, RawMatCop, RawMaterials Summit and is also a member of the European Raw Materials Alliance (ERMA).
The EIT RawMaterials network and staff, particularly the Innovation Hub Baltic Sea, have been incredibly attentive to our needs within the project and more broadly as a business. They have made valuable introductions that have fostered further collaborations and development projects. Additionally, they have been sage mentors for our strategy and approach and have ultimately validated our long term roadmap.
Scott Thomsett, Managing Director at Rovjok
Thomsen is very satisfied with how the EIT RawMaterials network aligns with the company’s mission to illuminate and optimise raw materials value chains and, as such, how beneficial it has been for Rovjok.
The diversity, capability and attitude towards collaboration of the network in Europe, and in particular the Baltics, of companies and organisations focused on Raw Materials (upstream and downstream) is unparalleled. It is a big reason why we are based in Europe and in particular Finland, and is what makes the EIT RawMaterials so valuable.
Scott Thomsett, Managing Director at Rovjok
The EIT RawMaterials support and the network has given the start-up specific resources to pursue additional product and business development, in particular opportunities the company would have been too busy or constrained to do.
We have been involved with EIT RawMaterials through our work with clients in both the mining and downstream space; being a part of the ecosystem is an obvious choice for a company with our vision and roadmap. The strength of the network and the mission have been really beneficial to the growth of Rovjok.
Scott Thomsett, Managing Director at Rovjok
