Zanskar Raises $115 Million Series C to Scale AI-Driven Geothermal Development Across Western U.S.

New updates have been reported about Zanskar.

Zanskar has secured a $115 million Series C round led by Spring Lane Capital, bringing its total equity funding to $180 million and positioning the company to accelerate a gigawatt-scale geothermal development pipeline across the Western United States. Existing investors including Obvious Ventures, Union Square Ventures, and Lowercarbon Capital joined more than a dozen additional energy and technology backers, making this the largest venture investment to date in AI-enabled geothermal resource discovery. The new capital will fund one of the most extensive geothermal exploration and development campaigns in U.S. history, supporting multiple new geothermal power plants slated to begin delivering firm, clean power before 2030, and expanding Zanskar’s AI-native discovery platform, exploration drilling programs, and strategic partnerships.

Zanskar’s model combines custom-built AI and software with field-based geoscience to cut discovery time and cost while increasing the size and productivity of geothermal fields, a strategy the company says has already uncovered multiple large, previously unknown geothermal systems in the Western U.S. and validated higher-than-expected energy yields through deeper drilling. Management frames this as a terawatt-scale opportunity, arguing that high-grade natural geothermal systems are abundant but historically hidden, and that their approach can make geothermal a scalable, cost-competitive baseload solution just as utilities and hyperscale data center operators are seeking clean, firm power. The company’s track record includes the turnaround of the Lightning Dock asset in New Mexico—now described as the most productive pumped geothermal well in the U.S.—and record-setting discoveries at Pumpernickel and Big Blind in Nevada, with Zanskar aiming to develop, build, own, and operate high-grade geothermal assets as core infrastructure for the modern grid. Investors such as Spring Lane and Obvious Ventures highlight Zanskar’s resource pipeline, its rate of anomaly identification in North America, and its operational capabilities as key reasons for backing rapid capacity build-out across the Western U.S.