Auroraspace Exclusive
Applied Computing has secured a $20 million Series A investment led by engineering giant KBR, with Databricks Ventures participating. This strategic funding round positions the company to accelerate its international expansion, hire key research and engineering talent, and explore new deployment opportunities with energy clients.
The London-based company has made rapid strides since emerging from stealth mode, achieving double-digit millions in annual recurring revenue in under 18 months. Applied Computing's foundation AI model, Orbital, has garnered significant traction among upstream oil and gas, downstream refining, and petrochemicals companies.
Quick Explanation: Orbital is a hybrid AI model that combines a time series model, a physics-based model, and a language model to predict the state of a facility. It can flag anomalies, investigate their causes, and model potential problems elsewhere in the facility, all within minutes.
Applied Computing's partnerships with industry leaders, including Wipro and KBR, have been instrumental in driving adoption. KBR has integrated Orbital into its INSITE 3.0 digital platform for energy projects, further expanding its reach. The company is also working with a major U.S. upstream operator and plans to announce a partnership with a European oil major in the coming weeks.
"We are thrilled to have KBR and Databricks Ventures join our journey," said Callum Adamson, CEO of Applied Computing. "This investment will enable us to accelerate our international expansion, hire top talent, and explore new opportunities with energy clients. We are committed to delivering value to our customers through the power of AI."
The strategic funding round will see Applied Computing expand its presence globally, with a new office in Houston joining its headquarters in London and operational hub in Bengaluru. The company plans to use the $20 million to drive growth, enhance its research and engineering capabilities, and explore new deployment opportunities with energy clients.
The Market Reaction
The oil and gas industry has been at the forefront of AI adoption, with companies like Shell, AspenTech, AVEVA, Cognite, and Seeq investing heavily in AI-powered solutions. Applied Computing's success is a testament to the growing demand for AI-driven insights in the sector. The company's ability to combine physics-based models with language models has resonated with operators seeking to optimize their facilities and reduce downtime.
Applied Computing's partnerships with industry leaders have been instrumental in driving adoption, and its integration with KBR's INSITE 3.0 platform is a significant milestone. The company's plans to expand internationally and explore new deployment opportunities with energy clients are likely to further accelerate its growth.
Under The Hood
Applied Computing's Orbital model has been designed to provide real-time insights into facility operations. By combining time series models with physics-based models and language models, Orbital can identify anomalies, investigate their causes, and model potential problems elsewhere in the facility. This enables operators to take proactive measures to prevent downtime and optimize their facilities.
The company's use of a hybrid AI model has been a key differentiator in the market. By leveraging the strengths of multiple models, Applied Computing has been able to deliver a more comprehensive and accurate view of facility operations. This has resonated with operators seeking to optimize their facilities and reduce downtime.
The Strategic Pivot
Applied Computing's strategic pivot towards international expansion and new deployment opportunities with energy clients is a significant shift. The company's plans to hire top talent and enhance its research and engineering capabilities will be critical in driving growth and delivering value to its customers.
The partnership with KBR and Databricks Ventures will also provide Applied Computing with access to new markets and opportunities. The company's ability to leverage KBR's INSITE 3.0 platform will further accelerate its growth and expansion.
Regulatory Headwinds
The oil and gas industry is subject to strict regulations and guidelines. Applied Computing's AI model must comply with industry standards and regulations, including those related to data privacy and security.
The company's partnerships with industry leaders and its integration with KBR's INSITE 3.0 platform have been designed to ensure compliance with industry regulations. Applied Computing's ability to deliver value to its customers while complying with regulatory requirements will be critical in driving growth and expansion.
The Future Ahead
Applied Computing's $20 million Series A investment positions the company for significant growth and expansion. The company's plans to hire top talent, enhance its research and engineering capabilities, and explore new deployment opportunities with energy clients will be critical in driving growth and delivering value to its customers.
The partnership with KBR and Databricks Ventures will also provide Applied Computing with access to new markets and opportunities. The company's ability to leverage KBR's INSITE 3.0 platform will further accelerate its growth and expansion.
As Applied Computing continues to drive growth and expansion, it will be interesting to see how the company addresses the regulatory headwinds in the oil and gas industry. The company's ability to deliver value to its customers while complying with regulatory requirements will be critical in driving growth and expansion.
The Valuation Question
The valuation of Applied Computing after the $20 million Series A investment remains unclear. The company's rapid growth and expansion have been driven by its ability to deliver value to its customers, and its partnerships with industry leaders have been instrumental in driving adoption.
As Applied Computing continues to drive growth and expansion, it will be interesting to see how the company addresses the regulatory headwinds in the oil and gas industry. The company's ability to deliver value to its customers while complying with regulatory requirements will be critical in driving growth and expansion.