Deep tech startup merger creates global powerhouse MagnaTerra Technologies

July 7th, 2025

A new deep tech company, MagnaTerra, has been formed after the merger of globally leading startups NextOre and MRead
MagnaTerra’s launch follows an $11 million capital raise and support from some of Australia’s leading investors in technology, science and mining.
The company combines more than two decades of world-class innovation in magnetic resonance (MR) sensing developed by Australia’s national science agency the CSIRO to detect minerals, explosives and drugs at a molecular level