AI
Applied Computing wants to give oil and gas operators an AI model for the entire plant
London-based startup Applied Computing has raised a $20 million Series A funding round led by engineering giant KBR, with participation from Databricks
London-based startup Applied Computing has raised a $20 million Series A funding round led by engineering giant KBR, with participation from Databricks Ventures. The company's foundation model, Orbital, combines time series, physics-based, and language models to predict the state of oil, gas, and petrochemical facilities. The funding will be used to expand internationally, hire research and engineering talent, and open a new office in Houston.
In their words
“It’s getting those three data sources to talk to each other in real time. That’s the real key”
“It’s an AI problem. It’s not a data problem, and it’s not an energy problem”
By the numbers
- $20M
- Series A funding raised by Applied Computing
- 2023
- Year Applied Computing was founded
- 8%
- Proportion of available data used by facilities for decisions
- 18 months
- Time taken to go from stealth to double-digit millions ARR
How it unfolded
- Applied Computing is founded.
- Startup goes from stealth to double-digit millions in ARR.
- Announces $20M Series A and opening of Houston office.
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Common questions
- Where can I read the original report?
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