German Mining Startup Hades Raises €15M in Seed Round
•February 11, 2026
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Why It Matters
The funding accelerates a technology that could reduce Europe’s reliance on imported critical minerals, strengthening strategic autonomy and supporting climate‑aligned energy goals.
Key Takeaways
- •Hades raised €15 million at €67.5 million valuation.
- •Laser drilling targets faster, cheaper European mineral extraction.
- •Funding fuels hiring, workshop expansion, and 2029 site goal.
- •EU reliance on imported critical minerals intensifies strategic urgency.
- •Hades aims to drill 10 m with 200 kW energy this year.
Pulse Analysis
The race for critical minerals has moved from a niche concern to a central pillar of European industrial policy. With the EU importing over 90 % of its rare earths, lithium and other strategic inputs, supply‑chain vulnerabilities have become a national security issue. Recent geopolitical frictions, especially the 2026 tensions with major producers, have accelerated calls for domestic extraction and energy independence. Policymakers are now pairing mineral security with climate goals, viewing geothermal energy and on‑shore mining as dual solutions to reduce reliance on external sources.
German startup Hades tackles this challenge with a laser‑based drilling platform that promises to cut costs and speed up access to deep‑lying ore bodies. In laboratory tests the system demonstrated three core capabilities: high‑energy rock fragmentation, rapid borehole lava purging, and sustained 200 kilowatt power delivery in partnership with a European energy firm. By integrating mineral extraction with on‑site electricity generation, the approach could create self‑sufficient sites, lowering operational expenditures and environmental footprints compared with conventional mining rigs.
The recent €15 million seed round, led by HV Capital and Headline, not only validates the commercial promise of Hades’ technology but also signals growing investor appetite for home‑grown supply‑chain solutions. The capital will expand the team from 11 to 36 engineers, fund a new workshop, and accelerate the path toward a pilot field operation slated for 2029. If Hades meets its target of drilling ten metres with 200 kW power this year, it could catalyze a broader European push for localized critical mineral production, reshaping the continent’s strategic bargaining power.
Deal Summary
German mining startup Hades announced a €15 million seed round, valuing the company at €67.5 million. The round was co‑led by HV Capital and Headline, with participation from existing investors Project A and Visionaries Tomorrow. The funding will be used to expand hiring, develop laser‑based drilling technology, and accelerate projects in critical minerals and geothermal energy.
Article
Source: Sifted
German mining startup Hades raises €15 million
German mining startup Hades, which aims to mine critical minerals and sell the energy generated, has raised €15 million at a €67.5 million valuation as the global rush for sovereign critical minerals heats up.
HV Capital and Headline co‑led the round, joined by existing backers Project A and Visionaries Tomorrow. Hades is developing a laser‑based drilling system to make it faster and cheaper for Europe to access minerals and geothermal energy.
The round comes shortly after the startup’s pre‑seed fundraise in August. “We had a hell of a ride in the last six months,” co‑founder and CEO Max Werner tells Sifted, adding that the company may plan another fundraise by the end of this year.
As geopolitical tensions mounted in 2026, so too did concerns around Europe’s dependence on imports of critical minerals and energy.
The EU is nearly entirely reliant on imports of critical raw minerals from countries like China. The US, meanwhile, recently announced a proposed critical minerals trading bloc as well as a plan for a $12 bn stockpile of critical minerals. It’s also set its sights on getting in on the natural resources of Greenland.
“We see huge interest from politicians and decision makers outside of this space, and we can't even help ourselves by all the interest that we are getting from all directions,” Werner says, adding that critical minerals were “pretty much in everyone's head” at a Davos event he attended earlier this year.
“In the last six months, it has become even more difficult in geopolitical terms, and enabling Europe to have its own extraction capabilities for geothermal energy, but also for critical minerals, is as important as it was on day one,” Werner says.
The new seed round was prompted by some recent technological advances in Hades’ lab. The startup was able to successfully test three key parts of its operations, Werner reports: rock‑destruction capabilities of its laser, purging capabilities to clear the lava from the borehole, and delivering 200 kilowatts of energy with the help of an unnamed European partner company.
‘Europe is incredibly vulnerable’
Hades will use the funding to ramp up hiring. As of December, the startup had 11 employees, and plans to grow to 36 by the end of 2026. It will also invest in a new workshop as well as lasers and machines for its operations.
Werner says the startup aims to have its first operational site by 2029; the company is in talks for four projects at various stages, he adds.
“This multi‑polar world order that we are currently seeing forming right in front of us doesn't use the dollar as a method of power anymore,” Werner says. “It's now based on access to raw minerals and resources.”
That puts Europe in a bad spot with its dependence on other countries. “Europe is incredibly, incredibly vulnerable in terms of negotiations at the moment, and that's what we see on the global table,” he says. “We are a liability.”
For now, Hades is focusing on things more within its control. Werner says the startup’s “ultimate goal” by the end of this year is to drill 10 metres down with 200 kilowatts of energy.
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