Established in 2019, Tribe Tech was founded to create a safer, more efficient work environment in the mining industry. It is a pioneer in the growing field of “smart mining.”

Founded in Australia but headquartered in Belfast, Tribe Tech develops and manufactures fully autonomous “reverse circulation” drill rigs. Reverse circulation drilling is widely used in what is described as the exploration and resource definition stages of mining for metals such as gold, copper, iron ore as well at “battery minerals” such as lithium, vanadium, cobalt and nickel.. It’s often preferred as an cost / time efficient way to drill to significant depths.

It’s a manual and dangerous process; operators are exposed to high-speed rotating equipment in hot and dusty conditions. “There had to be a better way of doing it,” says Tribe Tech founder and CEO Charlie King. It was a gap that major mining original equipment manufacturers (OEMs) had neglected. 

Reverse circulation drilling is a complex process so most automation systems had been designed for simpler functions. Tribe Tech designed its products around automation principles, enabling operators to be physically distanced from the drill rig while operating it. ‘We are making a revolutionary change in the industry,” says King.

By reducing exposure to risks and hazardous situations, “smart mining” improves the health and safety risks in what has been a hazardous industry. The use of smart sensors to monitor wear and tear of the equipment leads to improved reliability, reducing costs and increasing productivity. The overall market size for smart mining, which includes other types of drill rigs, is projected to reach $23bn by 2028.

This is a market sector with colossal barriers to entry. King estimates that Tribe Tech has already committed more than 125,000 engineering hours into the project. It is not an industry in which you can build a prototype because the components are too expensive. Tribe Tech had to build commercial versions, testing and validating along the way. And it needed a customer who was going to commit to an order; it was almost like an unofficial joint venture.

That customer was the Australian company McKay Drilling, a wholly owned subsidiary of Canadian TSX listed Major Drilling; it ordered four machines and then went on to win a major drilling contract specifying Tribe Tech’s automation technology. Further orders have flowed in. 

We have got the best names in the industry wanting to buy our products and that has given us confidence

The partnership also gave Tribe Tech the ammunition to raise a Series A investment round. In December 2021 Tribe Tech raised £1.4m in equity and £500,000 in debt. The funding round was match-funded by Co-Fund NI, a growth capital fund which is supported by Invest Northern Ireland. Additional match-funding investment came from the British Business Bank.

Twelve months later TribeTech raised £1.5m from investors led by Northern Irish private equity Cordovan Capital.

While its equipment may be deployed in Australia and other rugged environments, Tribe Tech’s headquarters are in Belfast which is also its primary manufacturing and R&D site. King, who hails from Northern Ireland, says that one of his investors described the region as the Silicon Valley of metal bashing.

There is a heritage of heavy engineering here. If you want to make something and make it really well this is the place to do it. And because what we’re doing is very interesting we are able to attract and retain high-calibre, skilled people

Building Tribe Tech has been as testing as any mining project. 

The pandemic, supply chain crises, the rise in shipping prices, the conflict in Ukraine – we are a scaleup that has had everything including the kitchen sink thrown at us

The delays have meant that Tribe Tech has had to carry more inventory to offset the risk while the supply chain crisis has meant it has required further working capital. 

We are a working capital-hungry business; the more we grow, the more funding we will need

It was access to capital that was one of the reasons why Tribe Tech listed on AIM this year. The proceeds from the AIM fundraising went towards boosting Tribe Tech’s working capital to fulfil its existing order book and increase its inventory levels, as well as to strengthen its R&D and expand its engineering, sales and support staff.

And becoming a public company has had other advantages. It enhances Tribe Tech’s international profile with existing and potential customers. 

We may be small in comparison but we are on a peer basis with customers and partners such as Anglo American

It also gives Tribe Tech a platform for making acquisitions and investing in product development for new markets.

At the moment we’re focused on mining and renewables but we have built a world class team in automation and in manufacturing machines that can survive in rugged environments. We are designing machines that can deal with dust, vibration and heat and we are getting inquiries to solve major problems for huge multi-billion dollar companies

As the leader of a highly innovative company, King is clear about the need to support R&D.

If you want to scale up companies, help them leverage the amount they’re spending on IP and development. The UK has some great schemes such as EIS, VCTs, and the patent box but we need to review the R&D tax credits regime as the recent changes have been very negative. We should simply copy and paste the Australian model which is simple, generous and has limited exclusions

At the moment we’re focused on mining and renewables but we have built a world class team in automation and in manufacturing machines that can survive in rugged environments. We are designing machines that can deal with dust, vibration and heat and we are getting inquiries to solve major problems for huge multi-billion dollar companies

“I pinch myself every time I walk into our factory. Within four years, we have got a world class team and production facility producing for some of the largest players in the industry, and we are listed on AIM. It's phenomenal!”

Charlie King, CEO