SALT LAKE CITY, Jan. 21, 2026 (GLOBE NEWSWIRE) -- Zanskar, a company using custom-built AI to become the world's most successful geothermal explorer, today announced a $115 million Series C funding round led by Spring Lane Capital. The round included participation from Obvious Ventures, who led the Series B; Union Square Ventures and Lowercarbon Capital, who co-led the Series A; and more than a dozen other notable energy and technology investors, including Munich Re Ventures, Susquehanna Sustainable Investments, Clearvision Ventures, Orion Industrial Ventures, Safar Partners, Imperative Ventures, StepStone Group, University Growth Fund, Cross Creek, GVP Climate, Tranquillion, Carica Sustainable Investments, UP.Partners, and the All Aboard Fund; and brings Zanskar's total equity funding to date to $180 million.

This Series C positions Zanskar for rapid growth by enabling the company to advance its gigawatt-scale pipeline through a historic geothermal exploration and development campaign. Zanskar will spearhead one of the largest ever expansions of American geothermal power supporting construction on multiple geothermal power plants throughout the Western U.S., which are slated to begin delivering power before 2030. Zanskar will also expand its industry leading discovery platform and exploration drilling programs, and establish new relationships with strategic partners and customers.

This round marks the largest venture investment to date into AI-enabled discovery of geothermal resources, signaling a decisive shift in market confidence toward the commercial potential of undiscovered, naturally-occurring geothermal systems. By uncovering gigawatts of new geothermal potential in just a few years, and at a fraction of the traditional cost, Zanskar has proven that high-grade natural systems aren't rare: they are just hidden. This disrupts conventional thinking that these systems are too risky or too constrained to develop at any meaningful scale, and sets the stage for rapid growth in the geothermal sector.

"We started Zanskar ...