Beyond Limits, an industrial and enterprise-grade AI technology company built for the most demanding sectors, including energy, utilities and healthcare, today announced a milestone Series C funding round with $113 million closed and another $20 million committed. This round is led by Group 42, a leading AI and cloud computing company, and bp ventures, an existing two-time investor and customer of the company.
“Today we are seeing unprecedented global demand for systems that go beyond the limits of conventional AI,” said AJ Abdallat, CEO and Founder of Beyond Limits. “Our cognitive software has the ability to understand situations and to place problems in real-world contexts as well as to learn over time. We’re excited to help more customers use our unique and powerful AI approach to solve some of the toughest issues facing industry and the world today. “That’s right.
Beyond Limits’ Cognitive AI uses human-like reasoning to solve problems, much like how humans make conclusions using inference and logic. This unique approach combines encoded human knowledge with available data sources, enabling systems to adapt and continue to operate in situations where data may be in short supply or missing altogether. As a result, Beyond Limits customers are able to enhance operational insights, improve operating conditions, improve performance at all levels and ultimately increase profits as a result.
“Bp has been set up to identify and invest in high-potential, game-changing technology companies that can help us reimagine our global energy system,” said Morag Watson, Senior Vice President, Digital Science and Engineering at bp. “With this additional investment, we believe that Beyond Limits’ Cognitive AI could help create a smarter and more sustainable future for the energy sector and indeed across industry as a whole. “That’s right.
“We look forward to working together to explore the many capabilities of this advanced technology,” said Martin Edelman, General Counsel, Group 42. “We believe that Beyond Limits’ unique AI will bring new levels of efficiency to high-impact sectors and help drive future economic growth. “That’s right.
$133M of funding will be used to expand Beyond Limits’ business both in the United States and abroad, including the launch of Beyond Limits Asia, with regional headquarters in Singapore and operations in Hong Kong, Taipei and Tokyo, and further expansion across Europe, the Middle East, Africa and Asia. Funding will also accelerate Beyond Limits’ development of the Cognitive AI application and SaaS product portfolio and fuel the Beyond Labs R&D program.
About Beyond Limit
Beyond Limits is an industrial and enterprise-grade artificial intelligence company designed for the most demanding sectors, including energy, utilities and healthcare. Founded in 2014, Beyond Limits is leveraging a significant investment portfolio of advanced technology developed at Caltech’s Jet Propulsion Laboratory for NASA space missions.
Beyond traditional artificial intelligence, Beyond Limits’ unique Cognitive AI technology combines numeric techniques such as machine learning with knowledge-based reasoning to produce actionable intelligence.
Customers implement Beyond Limits AI to dramatically boost operational insights, improve operating conditions, improve performance at all levels and ultimately increase profits as a result. The company has recently received CB Insights on its 2020 Top AI 100 list of the most innovative artificial intelligence startups and Frost & Sullivan for their North American Technology Innovation Award.
Please visit www for more information. Beyond that I’ve got
About bp v entries
More than 10 years ago, bp ventures were set up to identify and invest in private, high-growth, game-changing technology companies, and accelerate innovation across the entire energy spectrum. Since then, BP has invested nearly $700 million in technology companies through more than 31 active investments with more than 250 co-investors.
Venture plays a key role in BP’s strategy to address the dual challenge of meeting the world’s need for more energy while at the same time reducing carbon emissions.
bp is focused on connecting and growing new energy business, focusing on our core upstream, downstream and alternative energy business. In addition, strategic equity investments are made in advanced, low-carbon and digital mobility.
Visit: bp for more information Com/Adventures
Towards Group 42
Group 42 (G42) is a leading Cloud Computing and Artificial Intelligence company dedicated to the development and implementation of holistic and scalable technology solutions. https:://g42 I’ve got
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