- Beyond Limits — an industrial and enterprise-grade AI technology company built for the most demanding sectors — announced it raised a $113 million Series C funding round and another $20 million committed
Beyond Limits — an industrial and enterprise-grade AI technology company built for the most demanding sectors, including energy, utilities, and healthcare —announced a milestone Series C funding round with $113 million closed and another approximately $20 million committed. This funding round was led by Group 42 and bp ventures.
Beyond Limits’ Cognitive AI applies human-like reasoning to solve problems, just like how humans form conclusions using inference and logic. And this unique approach combines encoded human knowledge with available data sources, allowing systems to adapt and continue to operate in situations where data may be in short supply or missing altogether.
With this technology, Beyond Limits’ customers are able to elevate operational insights, improve operating conditions, enhance performance at every level, and increase profits as a result.
The $133 million funding round 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. This funding round will also accelerate Beyond Limits’ Cognitive AI application development and SaaS product portfolio and fuel the Beyond Labs R&D program.
KEY QUOTES:
“Today we are seeing unprecedented, world-wide demand for systems that go beyond the limitations of conventional AI. Our cognitive software has the ability to understand situations and place problems in real-world contexts as well as to learn over time. We’re excited to help more customers by applying our unique and powerful AI approach to solve some of the toughest problems facing industries and the world today.”
— AJ Abdallat, CEO and Founder of Beyond Limits
“bp ventures was established to identify and invest in high-potential, game-changing technology companies that can help us reimagine our global energy system. With this additional investment, we believe that Beyond Limits’ Cognitive AI could help create a more intelligent and sustainable future for the energy sector and indeed across industry as a whole.”
— Morag Watson, Senior Vice President, Digital Science and Engineering at bp
“We look forward to working together and exploring the many capabilities of this advanced technology. We believe Beyond Limits’ unique AI will bring new levels of efficiency to high-impact sectors and help drive future economic growth.”
— Martin Edelman, General Counsel, Group 42
