Los Angeles based industrial and enterprise-grade AI technology company, Beyond Limits announced its Series C funding round raising US$ 113M on 22 September. The total funds raised by the company stands at US$ 158.5M.
This Series C funding round was led by Group 42, a prominent AI and cloud computing company, and BP Ventures, an existing two-time investor and customer of the company.
Their mission is to create automated solutions with human-like powers of reasoning that amplify the talents and capabilities of people. Beyond Limits specializes in complex challenges in extreme environments. They have extreme trust in Artificial Intelligence to drive autonomous decision-making beyond the reach of human experts.
The funds raised will be utilized to expand Beyond Limits’ operations 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. The funding will accelerate Beyond Limits’ Cognitive AI application development and SaaS product portfolio. The funds will also be used to fuel its Beyond Labs R&D program.
About Beyond Limits
Beyond Limit was founded in 2014 by AJ Abdallat and Mark James. Beyond Limits has developed powerful Cognitive AI that unifies human knowledge with machine learning techniques. It applies human-like reasoning to solve problems, just like how humans form conclusions using inference and logic. It provides efficient and reliable guidance, clear and understandable recommendations to decision-makers for the operational challenges that they face while solving critical situations.
“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,” said AJ Abdallat, CEO and co-founder of Beyond Limits.
What the investors have to say
“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 the industry as a whole,” said Morag Watson, Senior Vice President, Digital Science and Engineering at BP Ventures.
“We look forward to working together and exploring the many capabilities of this advanced technology,” said Martin Edelman, General Counsel, Group 42.
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