Applied Computing Raises $20 Million for Oil and Gas AI Platform
London-based Applied Computing has secured $20 million in Series A funding to build a foundational AI model for the oil, gas, and petrochemical industries.
Applied Computing, a London-based startup developing a foundational artificial intelligence model for the oil, gas, and petrochemical sectors, has raised $20 million in a Series A funding round. The investment was led by engineering firm KBR, with participation from Databricks Ventures.
Founded in 2023, the company targets oil, gas, refining, and petrochemical systems. These facilities often house thousands of sensors monitoring parameters such as temperature, pressure, flow rate, and viscosity. While a substantial market exists for helping energy companies manage their data, significant challenges arise from data fragmentation.
According to Applied Computing, facilities currently make operational decisions using less than 8% of their available data. Co-founder and CEO Callum Adamson stated that operators collect a large volume of data but struggle to rapidly integrate sensor readings, engineering documentation, and chemical and physical process information.
The new funding will enable Applied Computing to construct a comprehensive AI model designed to consolidate this diverse data. The objective is to provide a unified view of plant operations, aiming to enhance efficiency, safety, and decision-making across the energy industry.