// startup autopsy

QuantumRock AI

Blast AI that overestimated savings by 4x and triggered compliance incidents at Kiruna.

runway zeroSlow Death

Years-long decline before final shutdown

Founded	2019
Closed	2024
Country	Sweden
Sector	Ai
Founder	Erik Lindström

48%

23%

Key Events Timeline

2019

FOUNDING

QuantumRock AI founded in Stockholm to optimize mine blast patterns using reinforcement learning.

2021

FUNDING

Raised €16M Series A; launched 18-month trials with Boliden and LKAB at Swedish iron ore mines.

2023-07

PRODUCT LAUNCH

LKAB analysis found only 4.2% savings vs claimed 18%; two compliance incidents at Kiruna mine.

2024-02

SHUTDOWN

Filed voluntary liquidation after LKAB terminated partnership and €20M Series B negotiations collapsed.

// full analysis

Analyst plan

Documented cause

QuantumRock AI raised €16M to apply reinforcement learning to blast pattern optimization in Swedish iron ore and copper mines, promising 20% explosive cost reduction. Boliden and LKAB ran 18-month trials from 2...

021–2023. LKAB's internal analysis in July 2023 found only 4.2% average cost reduction versus QuantumRock's claimed 18%, and ground vibration modeling errors caused two non-compliance incidents at the

Verified lesson

“Blasting AI must undergo independent geological validation before citing specific cost savings to investors....”

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HypeCycle · MoatType · ResearchTags

QuantumRock AI raised €16M and still failed. See the documented cause, verified lesson and all metrics.

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