Home / Business and Economy / AI Startup Secures $20M to Revolutionize Oil & Gas Data
AI Startup Secures $20M to Revolutionize Oil & Gas Data
16 Jul
Summary
- Applied Computing raised $20 million Series A led by KBR.
- Their AI model, Orbital, analyzes sensor, physics, and language data.
- The company opened a Houston office to expand its global reach.
Applied Computing, an AI startup based in London, has successfully raised $20 million in a Series A funding round spearheaded by KBR, with participation from Databricks Ventures. The company, founded in 2023, specializes in creating a foundation AI model named Orbital for the oil, gas, and petrochemical sectors.
Orbital is designed to process vast amounts of industrial data, combining time series, physics-based, and language models. This integration allows it to predict facility states, analyze sensor readings, and consider equipment constraints, offering rapid insights that can compress days of investigation into seconds. The startup claims significant traction, achieving double-digit millions in annual recurring revenue in under 18 months.
The new funding will facilitate Applied Computing's international expansion, bolster research and engineering teams, and explore new deployments with energy clients. The company recently established a presence in Houston, complementing its London headquarters and Bengaluru operational hub, strategically positioning itself closer to North American clients and planning further expansion into the Middle East.
