AI-Powered Efficiency: Applied Computing Raises $20M to Revolutionize Oil and Gas Operations

In a move that could transform the oil and gas industry, Applied Computing has raised $20 million in Series A funding to develop an AI model that optimizes plant operations. The startup's foundation model, Orbital, combines sensor readings, engineering documentation, and physics and chemistry to predict facility states and identify potential issues. By analyzing vast amounts of data in real-time, Orbital can flag anomalies, investigate their causes, and model the impact of proposed fixes – all within minutes.

The key to unlocking efficiency in oil and gas operations is getting sensor readings, engineering documentation, and physics and chemistry to talk to each other in real-time.

Applied Computing's CEO, Callum Adamson, emphasizes the need for speed in the industry, where operators currently use less than 8% of available data to make decisions. The startup claims its product can compress investigations that previously took days or weeks into seconds. Partners like KBR and Wipro are already integrating Orbital into their platforms, with KBR using it for ammonia production.

The funding round, led by engineering giant KBR, signals growing interest in AI-powered solutions for the oil and gas industry. As Applied Computing expands its customer base and product capabilities, it is likely to face increased competition from established industrial software suppliers. However, its focus on speed and real-time analysis may provide a competitive edge in the market.